Today, insurance market in Georgia has only one international investor “Vienna Insurance Group”, this is because reforms are not carried out, - Tinatin Stambolishvili, head of marketing communication department of GPI Holding told program BMGDRIVE.
She assessed the work of the Parliament and reforms implemented in the last 4 years. Stambolishvili noted, that the insurance business industry is growing very slowly, while it can be the fastest growing sector and attractive for the investors.
“Today, insurance market in Georgia has only one international investor “Vienna Insurance Group”, this is because reforms are not carried out. The one thing that had been done was the reform of the Supervision Service. According to which, all insurance companies pay 1% of their premium, which is very big pressure especially for small companies. However, we expressed readiness to participate in it, as we hoped that reforms and legislative initiatives would be implemented. Five years have passed and the promises are not being fulfilled. It will be a heavy burden on insurance companies," she said.
