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PM: Georgia does not plan establishing of state insurance company

Business Materials 21 February 2011 18:51 (UTC +04:00)

Georgia, Tbilisi, Feb. 21 / Trend N. Kirtskhalia /
Georgia does not plan to create a state-owned insurance company, Prime Minister Nika Gilauri said live on TV channel Rustavi-2.

Law enforcement agencies and the Control Chamber revealed serious financial violations in the activity of private insurance companies. Roughly 16 people charged of embezzling huge sums within the public insurance program were arrested.

The idea of creating a state insurance company appeared. Although Prime Minister said that it was not planned and insurance sphere was developing in the right direction in the country. The violations related to the rapid development of insurance services.

He said that the state took the right course in this direction. So, the government has no plans to create a state insurance company.

"There will be such problems. We will solve them," Prime Minister said.

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