The National Bank of Georgia published remarks by Governor Natia Turnava from an Insurance Day event organised by the State Insurance Supervision Service, where she underscored insurance as a core tool for building financial awareness and supporting the economy’s sustainable functioning. Turnava pointed to ongoing cooperation between the State Insurance Supervision Service and the National Bank of Georgia’s Banking Supervision, Consumer Rights Protection and Financial Education departments, and argued that a well-developed insurance market with informed consumers helps convert potential losses into manageable risks and supports stability in the financial system. She also highlighted the growing relevance of credit risk insurance used by lending institutions, describing it as a mechanism that mitigates risk for banks and can facilitate a more secure lending environment for small and medium-sized enterprises. Insurance Day has been celebrated annually since 2022 as part of Georgia’s National Financial Education Strategy, marking the enactment of Georgia’s first Law on Insurance on 2 May 1997.
National Bank of Georgia 2025-05-02
National Bank of Georgia governor highlights insurance’s role in financial education and SME lending at Insurance Day
Governor Natia Turnava of the National Bank of Georgia stressed the importance of insurance in financial awareness and economic sustainability at an Insurance Day event. She highlighted collaboration between the State Insurance Supervision Service and the National Bank's departments, noting that a developed insurance market aids financial stability. Turnava also emphasized credit risk insurance's role in mitigating risks for banks and enhancing lending security for SMEs.