EBRD Invests in Georgia’s Insurance Market

Georgia Materials 28 February 2007 14:55 (UTC +04:00)

( С ) - European Bank for Reconstruction and Development (EBRD) has purchased a 34% stake in the Georgian insurance company Imedi L, EBRD said on February 28.

Founded in 1995, Imedi L is an independent insurance company, licensed to underwrite a full range of life and non-life insurance products with a strong position in property insurance.

This is EBRD's first investment in the Georgia's insurance market. EBRD has so far signed more than 60 projects in the country covering energy, transport, agribusiness, general industry and banking for a total commitment of almost EUR 400 million.