Governance, Risk and Compliance - The Georgian Insurance Industry, New Report Launched

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Georgia, including:

• An overview of the insurance regulatory framework in Georgia.
• The latest key changes and changes expected in Georgian insurance regulatory framework.
• Key regulations and market practices related to different types of insurance product in the country.
• Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Georgia.
• Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital, solvency and reserve requirements, and investment regulations.
• Details of the tax and legal systems in the country.

Governance, Risk and Compliance - The Georgian Insurance Industry report is the result of extensive research into the insurance regulatory framework in Georgia. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operations of insurance and reinsurance companies and intermediaries.

The report brings together Publisher’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, recent and upcoming changes in regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Scope

• This report covers details of the insurance regulatory framework in Georgia.
• The report contains details of rules and regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments pertaining to the Georgian insurance regulatory framework.
• The report analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
• The report provides details of taxation imposed on insurance products and companies.

Reasons to Buy

• Gain insights into the insurance regulatory framework in Georgia.
• Track latest regulatory changes and expected changes impacting the Georgian insurance industry
• Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country
• Understand key regulations and market practices relating to various types of insurance product.

Key Highlights

• National Bank of Georgia is the government regulatory body supervising and regulating the Georgian insurance industry.
• 100% FDI is permitted in the Georgian insurance industry.
• National Bank does not permit insurance companies to carry out both life and non-life insurance business under a composite insurance license.
• The placement of non-admitted insurance is not permitted in the Georgian insurance industry. However Lloyd’s underwriters are permitted to sell reinsurance business without license.
• All insurance companies registered as limited liability companies are required to change their legal status to form joint-stock companies before July 1, 2015.

Spanning over 31 pages, “Governance, Risk and Compliance - The Georgian Insurance Industry” report covers Introduction, Governance, Risk and Compliance, Appendix. The report covered companies are - Selbi insurance company, Eurospace, Aldagi BCI

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

Other Reports;

1st- Governance, Risk and Compliance – The Maltese Insurance Industry - visit at: http://mrr.cm/4LY

2nd- Governance, Risk and Compliance – The Armenian Insurance Industry - visit at: http://mrr.cm/4Lg

3rd- Governance, Risk and Compliance – The Jamaican Insurance Industry - visit at: http://mrr.cm/4LM