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Net profit of Georgian insurance companies increases

Finance Materials 18 September 2020 19:07 (UTC +04:00)
Net profit of Georgian insurance companies increases

BAKU, Azerbaijan, Sept. 18

By Tamilla Mammadova – Trend:

The premium attracted by Georgian insurance companies for 1H2020 amounted to 376.9 million lari (over $117.5 million), Trend reports via Georgian media.

The insurance profit amounted to 89.5 million lari ($28.4 million), and the net profit - 29.2 million lari ($9.2 million).

The sector's net profit increased by 10 million lari ($3.1 million) annually. The largest share among the sectors is still held by medical insurance, where the attracted premiums exceed 171 million lari ($54.3 million). Property insurance comes in second with a total premium of 59 million lari ($18.7 million), followed by auto insurance with a total premium of 58 million lari ($18.4 million).

By the numbers:

1) “GPI Holding” - the total amount of attracted premiums from direct insurance activities - 78.46 million lari ($24.9 million); The total amount of compensated losses from direct insurance - 28.81 million lari ($9.1 million);

2) "Aldagi" - the total amount of attracted premiums from direct insurance activities - 54.15 million lari ($17.2 million); The total amount of compensated losses from direct insurance - 23.71 million lari ($7.5 million);

3) Imedi L - the total amount of attracted premiums from direct insurance activities - 45.74 million lari ($14.5 million); the total amount of compensated losses from direct insurance - 22.67 million lari ($7.2 million);

4) "TBC Insurance" - the total amount of attracted premiums from direct insurance activities - 44.29 million lari ($14.08 million); the total amount of compensated losses from direct insurance - 15.84 million lari ($5.03 million);

5) "Ardi" - the total amount of attracted premiums from direct insurance activities - 32.80 million lari ($10.4 million); The total amount of compensated losses from direct insurance - 16.05 million lari ($5.1 million);

6) "Unison" - the total amount of attracted premiums from direct insurance activities 21.64 million lari ($6.8 million); The total amount of compensated losses from direct insurance - 5.8 million lari ($1.8 million);

7) "IRAO" - the total amount of attracted premiums from direct insurance activities 20.32 million lari ($6.4 million); The total amount of compensated losses from direct insurance - 7.78 million lari ($2.4 million);

8) “Euroins” - the total amount of attracted premiums from direct insurance activities 16.12 million lari ($5.1 million); The total amount of compensated losses from direct insurance - 7.27 million lari ($2.3 million);

9) “PSP Insurance” - the total amount of attracted premiums from direct insurance activities - 15.63 million lari ($4.9 million); The total amount of compensated losses from direct insurance - 7.50 million lari ($2.3 million);

10) "Global Benefits Georgia" - the total amount of attracted premiums from direct insurance activities 12.64 million lari ($4.01 million); The total amount of compensated losses from direct insurance - 5.27 million lari ($1.6 million);

11) "Alpha" - the total amount of attracted premiums from direct insurance activities - 8.69 million lari ($2.7 million); The total amount of compensated losses from direct insurance activities - 5.72 million lari ($1.8 million);

12) "Georgian Insurance Group" - the total amount of attracted premiums from direct insurance activities 8.32 million lari ($2.6 million); The total amount of compensated losses from direct insurance activities - 3.88 million lari ($1.2 million);

13) “Prime” - the total amount of attracted premiums from direct insurance activities 6.22 million lari ($1.9 million); The total amount of compensated losses from direct insurance is 1.28 million lari ($407,035);

14) "Kartu Insurance" - the total amount of attracted premiums from direct insurance activities - 3.16 million lari ($1.04 million); The total amount of compensated losses from direct insurance activities - 0.7 million lari ($222,597);

15) "Hualing Insurance" - the total amount of attracted premiums from direct insurance activities 2.8 million lari ($890,390); The total amount of compensated losses from direct insurance - 0.74 million lari ($235,317);

16) "Tao Insurance" - the total amount of attracted premiums from direct insurance activities - 2.7 million lari ($858,590); The total amount of compensated losses from direct insurance is 1.25 million lari ($397,495);

17) "Green Insurance Georgia" - the total amount of attracted premiums from direct insurance activities - 1.64 million lari ($521,514); The total amount of compensated losses from direct insurance - 0.09 million lari ($28,619);

18) "New Vision" - the total amount of attracted premiums from direct insurance activities - 1.56 million lari ($496,074); the total amount of compensated losses from direct insurance - 0.01 million lari ($3,179).

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