The Insurance State Supervision Service of Georgia took part in the 23rd meeting of the Central, Eastern and Southeastern European Insurance Supervisors Initiative (CESEE) in Hungary, where regional supervisors discussed current priorities for insurance oversight. The agenda covered Own Risk and Solvency Assessment (ORSA), implementation challenges linked to IFRS 17, risks related to insurers’ investments in crypto assets, and innovative supervisory approaches. The Georgian delegation, led by Head of the Service Davit Onoprishvili and joined by Edward Vakhtangishvili, Head of the Department of Supervision, also exchanged experience on ongoing supervisory practices, including approaches to consumer protection and insurance market development. On the sidelines in Budapest, Onoprishvili held bilateral working meetings with Austrian Financial Market Supervisory Authority head Peter Braumüller, Slovenia’s head of insurance supervision Gorazd Chibey, and Bosnia and Herzegovina Insurance Agency director Ivan Luburich to discuss regulatory experience and options to deepen cooperation. The Service indicated that Georgia will host the 24th CESEE meeting; the initiative includes 20 countries in the region.
Insurance State Supervision Service of Georgia 2025-02-27
Insurance State Supervision Service of Georgia participates in CESEE insurance supervisors meeting and will host the next session
The Insurance State Supervision Service of Georgia participated in the 23rd CESEE meeting in Hungary, discussing insurance oversight priorities such as ORSA, IFRS 17 challenges, and crypto asset investment risks. The Georgian delegation, led by Davit Onoprishvili, engaged in bilateral meetings with regional counterparts to explore regulatory cooperation. Georgia will host the 24th CESEE meeting, involving 20 countries.