The Insurance Industry in Georgia, Key Trends and Opportunities to 2018, New Report Launched

The report provides in-depth industry analysis, information and insights into the insurance industry in Georgia, including:

• The Georgian insurance industry’s growth prospects by insurance segment and category
• The competitive landscape in the Georgian insurance industry
• The current trends and drivers in the Georgian insurance industry
• Challenges facing the Georgian insurance industry
• The detailed regulatory framework of the Georgian insurance industry

Georgia is a small and open economy strategically located between Europe and Asia, and is a nodal point for regional trade flows. The country’s real GDP grew at an annual growth rate of 12.3% in 2007. The main reasons for this growth were the high flow of foreign investments and robust government spending on infrastructure. Fuelled by the improved economic performance, the Georgian insurance industry grew at a review-period (2009–2013) CAGR of 12.6%. The launch of a universal healthcare program in 2013 supported the entire industry’s growth. The industry’s premium is expected to be marginally impacted over the forecast period (2013–2018) due to the removal of private insurance companies from all the government’s projects, including the universal healthcare program.

The life segment was one of the fastest-growing in the Georgian insurance industry during the review period, although it only accounted for 4.2% of the total segment’s share in 2013. The strong performance of the Georgian construction sector and foreign inward investment supported the growth of the industry amid the global financial crisis.

Scope

This report provides a comprehensive analysis of the insurance industry in Georgia:

• It provides historical values for the Georgian insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
• It offers a detailed analysis of the key segments and categories in the Georgian insurance industry, along with forecasts until 2018.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
• It profiles the top insurance companies in Georgia, and outlines the key regulations affecting them.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast industry data related to the Georgian insurance industry and each segment within it.
• Understand the demand-side dynamics, key trends and growth opportunities in the Georgian insurance industry.
• Assess the competitive dynamics in the Georgian insurance industry.
• Identify the growth opportunities and market dynamics in key segments.
• Gain insights into key regulations governing the Georgian insurance industry, and their impact on companies and the industry's future.

Key Highlights

• The Georgian industry grew at a CAGR of 12.6% during the review period (2009 – 2013).
• The health category constituted 98.5% of the total personal accident and health segment’s share in 2013
• The country’s life insurance penetration stood at 0.09% in 2013, which is comparatively low when compared to countries such as Turkey, Bulgaria and Germany, which have respective penetration rates of 0.24%, 0.35% and 3.32%
• The Georgian insurance industry was served by 15 operational insurance companies as of 2012
• The National Bank of Georgia supervises and regulates the insurance industry of Georgia

Spanning over 161 pages, “The Insurance Industry in Georgia, Key Trends and Opportunities to 2018” report covering the Executive Summary, Introduction, Georgian Insurance Industry Overview, Industry Segmentation, Governance, Risk and Compliance, Competitive Landscape, Macroeconomic Indicators, Appendix. The report covered companies are - PSP Insurance, Aldagi BCI, Georgian Pension and Insurance Holding (GPI Holding), Imedi L Insurance Co., IC Group Insurance

For further information on this report, please visit- http://mrr.cm/4iA

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