‘The Insurance Industry in Georgia, Key Trends and Opportunities to 2020′ report provides a detailed analysis of the Georgian insurance industry.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).
The report also gives a comprehensive overview of the Georgian economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural hazards on the insurance industry.
The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
‘The Insurance Industry in Georgia, Key Trends and Opportunities to 2020′ report provides in-depth market analysis, information and insights into the Georgian insurance industry, including:
• An overview of the Georgian insurance industry
• The Georgian insurance industry’s growth prospects by segment and category
• A comprehensive overview of the Georgian economy and demographics
• A comparison of the Georgian insurance segments with its regional counterparts
• The detailed competitive landscape in the Georgian insurance industry
• Overview of distribution channels in the Georgian insurance industry
• Details of regulatory policy applicable to the Georgian insurance industry
• An analysis of natural hazards and its impact on the Georgian insurance industry
This report provides a comprehensive analysis of the insurance industry in Georgia:
• It provides historical values for the Georgian insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
• It offers a detailed analysis of the key segments in the Georgian insurance industry, with market forecasts to 2020.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
• It profiles the top insurance companies in Georgia, and outlines the key regulations affecting them.
• It covers the economy and demographics structure of Georgia.
• It analyzes the impact of natural hazards in the Georgian insurance industry.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Georgian insurance industry and each segment and category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities in the Georgian insurance industry.
• Assess the competitive dynamics in the Georgian insurance industry.
• Identify growth opportunities and market dynamics in key segments.
• Gain insights into key regulations governing the Georgian insurance industry, and their impact on companies and the industry’s future.
• The industry was led by the non-life segment, with a gross written premium share of 47.8%.
• Property insurance accounted for 21.6% of the industry’s gross written premium in 2015. The category’s gross written premium grew at a review-period (2011–2015) compound annual growth rate (CAGR) of 6.8%.
• Life insurance was the fastest-growing segment in the Georgian insurance industry during the review period. Although it accounted for 7.0% of the industry’s gross written premium in 2015, it grew at a review-period CAGR of 11.5%.
• Currency devaluation and the increasing cost of medical services affected the health insurance category during the review-period.
• The industrial growth in non-metropolitan and semi-urban cities will increase the demand for life and non-life insurance products.
Key points in table of content
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demography
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Gross written premium
4.1.2 Policies sold
4.1.4 Assets and investments
5 Life Insurance
6 Non-Life Insurance
6.1 Property Insurance
6.1.1 Gross written premium
6.1.2 Policies sold
6.2 Motor Insurance
6.2.1 Gross written premium
6.2.2 Policies sold
6.3 Liability Insurance
6.3.1 Gross written premium
6.3.2 Policies sold
6.4 Marine, Aviation and Transit Insurance
6.4.1 Gross written premium
6.4.2 Policies sold
7 Personal Accident and Health Insurance
7.1 Personal Accident Insurance
7.1.1 Gross written premium
7.1.2 Policies sold
7.2 Health Insurance
7.2.1 Gross written premium
7.2.2 Policies sold
7.3 Travel Insurance
7.3.1 Gross written premium
7.3.2 Policies sold
8.1 Premium Ceded
9 Distribution Channel Outlook
10 Natural Hazards
11 Competitive Landscape
11.1 Company Profiles
11.1.1 Georgian Pension and Insurance Holding – company overview
11.1.2 Aldagi BCI – company overview
11.1.3 Imedi L Insurance Company – company overview
11.1.4 Unison Insurance Company Ltd – company overview
11.1.5 International Insurance Company (IRAO) – company overview
12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life Insurance
12.3.2 Property Insurance
12.3.3 Motor Insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third-party liability insurance
12.4.2 Social security insurance
12.5 Supervision and Control
12.5.1 International Association of Insurance Supervisors
12.5.2 The Insurance State Supervision Service of Georgia
12.5.3 Georgian Insurance Association
12.6 Non-Admitted Insurance Regulations
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.9 Legal System
12.9.2 Access to court
12.9.3 Alternative dispute resolution (ADR)
13.1 Life Insurance
13.1.1 Policies and premium
13.1.2 Claims and expenses
13.1.3 Assets and investments
13.2 Non-Life Insurance
13.2.1 Policies and premium
13.2.2 Claims and expenses
13.2.3 Assets and investments
13.2.4 Property insurance
13.2.5 Motor insurance
13.2.6 Motor insurance by product
13.2.7 Liability insurance
13.2.8 Marine, aviation and transit insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and premium
13.3.2 Claims and expenses
13.3.3 Assets and investments
13.3.4 Personal accident insurance
13.3.5 Health insurance
13.3.6 Travel insurance
14 Definitions and Methodology
15 About Timetric
15.1 Contact Timetric
15.2 About Timetric
15.3 Timetric’s Services
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