The volume of the premium portfolio has increased in the insurance sector, while profitability is declined.
As of January-March of the current year, the consolidated net profit of 18 insurance companies has been reduced by almost 3 times. If in the first quarter of last year the companies received a net profit of GEL 13.5 million, this figure is reduced to GEL 4.7 million in the three months of 2022.
The portfolio of premiums attracted by the sector increased by GEL 34.4 million and reached 267.6 million over three months. Insurance profits are up by GEL 1.6 million. Assets increased by GEL 99.7 million and already exceeded GEL 1.1 billion.
TOP-10 Companies By The Volume of Attracted Premiums
• GPI - GEL 59.8 million (+ 8.5 million
• Imedi L - GEL 38.9 million (- 0.7 million)
• TBC Insurance - GEL 35.7 million (+ 8.7 million)
• Aldagi - GEL 22.5 million (-2.1 million)
• Ardi - GEL 22.4 million (+5 million)
• PSP Insurance - GEL 16.1 million (+5.6 million)
• Unison - GEL 16.1 million (+10.8 million)
• IRAO - GEL 12.5 million (+0.8 million)
• Benefits Georgia - GEL 9 million (+2.6 million)
• Insurance Group - GEL 8.2 million (-0.8 million)
Insurance companies have reimbursed GEL 110.1 million from direct insurance activities. The highest share – GEL 21.6 million accounts for GPI. TBC Insurance is in the second place with 14.7 million GEL; Ardi is in the third place with GEL 13.5 million.
