Georgia Insurance Market Size by Segment (Life, General and Reinsurance), Trends, Competitive Landscape and Forecast, 2022-2026
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Georgia Insurance Market Overview
The gross written premium of the Georgia insurance industry was $231.7 million in 2021. The market is expected to achieve a CAGR of more than 11% during the forecast period. The Georgia Insurance Industry research report provides in-depth market analysis, information, insights, and a detailed outlook by product category of the industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
Georgia Insurance Market Outlook 2021-2026 ($ Million)
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Georgian economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
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Key Georgia Insurance Industry Trends
JSC International Insurance Company IRAO launched remote services to help customers sign policies and pay remotely without the need to visit an office. Furthermore, customers can activate the payment of insurance premiums remotely. The services are available for auto insurance, pulse, travel, auto liability, and property insurance.
Irao launched a mobile app for a convenient and comfortable insurance management process. It is tailored to the needs of its users, with which reimbursement of medical expenses, letters of guarantee, or tracking of enrolled policies is possible. The app can also be used to activate the customer’s health insurance card. The e-card in the application replaces the plastic insurance card and customers will be able to get insurance services through it, such as in clinics or pharmacies.
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Georgia Insurance Market Segments
The key segments of the Georgia insurance industry are life insurance and general insurance. The general insurance segment dominates the market.
Life Insurance: In 2021, retail segment dominated the life insurance industry followed by the commercial segment.
General Insurance: Both commercial and retail general insurance includes property insurance, motor insurance, liability insurance, financial lines, MAT, and personal accident and health insurance. Commercial general insurance was the leading segment. PA&H insurance was the largest sub-segment, followed by motor insurance and property insurance.
Georgia Insurance Industry Analysis by Segments, 2021, (%)
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Georgia Insurance Market – Competitive Landscape
Some of the key insurance companies in the Georgia insurance industry are JSC Insurance Company GPI Holding, JSC Insurance Company Aldagi, JSC TBC Insurance SC Insurance Company Imedi L, JSC Ardi Insurance, JSC Insurance PSP, JSC Hualing Insurance, JSC International Insurance Company IRAO, and JSC Risk Management and Insurance Company Global Benefits Georgia.
Georgia Insurance Market Analysis by Companies, 2021 (%)
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Key Segments Covered in this Report.
Georgia Insurance Market Segment Outlook ($ Million, 2021-2026)
- Life Insurance
- General Insurance
Scope
This report provides:
- Comprehensive analysis of the Georgia insurance industry
- Historical values for the Georgian insurance industry for the report’s review period and projected figures for the forecast period
- A detailed analysis of the key categories in the Georgian insurance industry, and market forecasts to 2026
- Profiles of the top life insurance companies in Georgia and outlines the key regulations affecting them
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Georgian insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Georgian insurance industry.
- Assess the competitive dynamics in the Georgian insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
JSC Insurance Company Aldagi
JSC TBC Insurance SC Insurance Company Imedi L
JSC Ardi Insurance
JSC Insurance PSP
JSC Hualing Insurance
JSC International Insurance Company IRAO
Table of Contents
Frequently asked questions
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What was the Georgia insurance industry gross written premium in 2021?
The gross written premium of Georgia insurance industry was $231.7 million in 2021.
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What is the Georgia insurance industry growth rate?
The Georgia insurance industry is expected to achieve a CAGR of more than 11% during the forecast period.
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What are the key segments of the Georgia insurance industry?
The key segments of the Georgia insurance industry are life insurance and general insurance.
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What are the key companies in the Georgia insurance industry?
Some of the key insurance companies in the Georgia insurance industry are JSC Insurance Company GPI Holding, JSC Insurance Company Aldagi, JSC TBC Insurance SC Insurance Company Imedi L, JSC Ardi Insurance, JSC Insurance PSP, JSC Hualing Insurance, JSC International Insurance Company IRAO, and JSC Risk Management and Insurance Company Global Benefits Georgia.
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