The Insurance State Supervision Service of Georgia briefed its Supervisory Board on the 2024 insurance sector report, the results for the first five months of 2025 and the Service’s 2025-2029 development strategy, with discussion focused on achievements, challenges and forward plans. The presentation highlighted 18% market growth in 2024, alongside increases in key indicators such as insurers’ assets and net profits. The Supervisory Board meeting was held in the Parliament of Georgia and attended by board members including ministers and representatives of the Business Association and Employers’ Association. The Service’s head also pointed to medical insurance as the largest segment, accounting for 42% of the market, alongside land transport, property and life insurance, and indicated that the possibility of voluntary private pension schemes would be added in 2025 to allow additional savings beyond the mandatory pension scheme.
Insurance State Supervision Service of Georgia 2025-07-17
Insurance State Supervision Service of Georgia presents 2024 sector report and 2025-2029 development strategy to its Supervisory Board
The Insurance State Supervision Service of Georgia presented its 2024 insurance sector report and 2025-2029 development strategy to the Supervisory Board, noting 18% market growth in 2024 and increases in insurers' assets and net profits. Medical insurance was identified as the largest segment, comprising 42% of the market, with plans to introduce voluntary private pension schemes in 2025. The meeting included board members, ministers, and representatives from the Business and Employers’ Associations.