Your SlideShare is downloading. ×
The Insurance Industry in Georgia, Key Trends and Opportunities to 2016
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

The Insurance Industry in Georgia, Key Trends and Opportunities to 2016

459
views

Published on


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
459
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. The Insurance Industry in Georgia, Key Trends andOpportunities to 2016Report Details:Published:December 2012No. of Pages: 128Price: Single User License – US$1950SynopsisThe report provides in depth industry analysis, information and insights into the insurance industryin Georgia, including:• The Georgian insurance industry’s growth prospects by insurance segments and sub-segments• The competitive landscape in the Georgian insurance industry• The current trends and drivers of the Georgian insurance industry• The challenges facing the Georgian insurance industry• The regulatory framework of the Georgian insurance industrySummaryThe Georgian insurance industry underwent multiple changes during the review period. Numerousreforms have been initiated and implemented by the government, especially in the healthcaresystem. This led to an increase in the number of people obtaining medical care and supported thecountry’s health insurance business. Despite industry growth, Georgia remains prone to variouschallenges, such as a lack of strong professional skill sets and rising levels of dissatisfactionamong the insured population. During the review period, two insurance companies went out ofbusiness on account of rising financial difficulties.ScopeThis report provides a comprehensive analysis of the insurance industry in Georgia:• It provides historical values for the Georgian insurance industry for the report’s 2007–2011review period and forecast figures for the 2012–2016 forecast period• It offers a detailed analysis of the key segments and sub-segments in the Georgian insuranceindustry, along with forecasts until 2016• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,commissions and expenses, combined ratio, total assets, total investment income and retentions• It profiles the top insurance companies in Georgia and outlines the key regulations affecting them
  • 2. Reasons To Buy• Make strategic business decisions using in depth historic and forecast industry data related tothe Georgian insurance industry and each segment within it• Understand the demand-side dynamics, key trends and growth opportunities within the Georgianinsurance industry• Assess the competitive dynamics in the Georgian insurance industry• Identify the growth opportunities and market dynamics within key segments• Gain insights into key regulations governing the Georgian insurance industry and its impact oncompanies and the industrys futureKey Highlights• Georgia’s insurance industry is dominated by the personal accident and health segment.• The Georgian insurance industry underwent multiple changes during the review period.• Numerous reforms have been initiated and implemented by the government, especially in thehealthcare system.• This led to an increase in the number of people obtaining medical care and supported thecountry’s health insurance business.• Despite industry growth, Georgia remains prone to various challenges, such as a lack of strongprofessional skill sets and rising levels of dissatisfaction among the insured population.• During the review period, two insurance companies went out of business on account of risingfinancial difficulties.Get your copy of this report @http://www.reportsnreports.com/reports/209584-the-insurance-industry-in-georgia-key-trends-and-opportunities-to-2016.htmlMajor points covered in Table of Contents of this report includeTable of Contents1 Executive Summary2 Introduction2.1 What is this Report About?2.2 Definitions2.3 Methodology3 Georgian Insurance Industry Overview3.1 Insurance Industry Overview3.2 Georgian Insurance Industry – Market Size, 2007–20163.3 Key Industry Trends and Drivers3.4 Challenges3.5 Regulation4 Market Segmentation4.1 Life Insurance Growth Prospects by Category4.2 Non-Life Insurance Growth Prospects by Category4.2.1 Property insurance category4.2.2 Motor insurance category
  • 3. 4.2.3 Liability insurance category4.2.4 Marine, aviation and transit insurance category4.3 Personal Accident and Health Insurance Growth Prospects by Category4.3.1 Personal accident insurance category4.3.2 Health insurance category4.3.3 Travel insurance category4.4 Reinsurance Market Size by Insurance Segment, 2007–20165 Competitive Landscape5.1 Overview5.2 Leading Companies5.2.1 GPI Holding – company overview5.2.2 Aldagi - BCI Insurance Company – company overview5.2.3 Alpha Insurance Company Limited (Georgia) – company overview5.2.4 IC Group Insurance – company overview5.2.5 Irao Group – company overview5.2.6 Unison – company overview5.2.7 Archimedes Global Georgia – company overview5.2.8 IMEDI L Insurance Co. – company overview5.2.9 Cartu Insurance Company Ltd – company overview5.2.10 Taoinsurance – company overview6 Macroeconomic Indicators6.1 GDP at Constant Prices (US dollar)6.2 GDP Per Capita at Constant Prices (US dollar)6.3 GDP at Current Prices (US dollar)6.4 Construction Output at Current Prices (US$ Billion)6.5 Construction Net Output at Current Prices as a Percentage of GDP6.6 Arable Land6.7 Exports as a Percentage of GDP6.8 Number of Air Passengers6.9 Healthcare Expenditure Per Capita6.1 Employed Population6.11 Annual Disposable Income6.12 Annual Disposable Income Per Capita6.13 Total Population7 Appendix7.1 Methodology7.1 Contact Us7.2 About Timetric7.3 DisclaimerList of TablesTable 1: Insurance Industry Definitions
  • 4. Table 2: Georgian Insurance Overall Written Premium by Segment (GEO Billion), 2007–2011Table 3: Georgian Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011Table 4: Georgian Insurance Overall Written Premium by Segment (GEO Billion), 2011–2016Table 5: Georgian Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016Table 6: Georgian Insurance Segmentation (Percentage Share), 2007–2016Table 7: Georgian Life Insurance – Paid Claims (GEO Billion), 2007–2011Table 8: Georgian Life Insurance – Paid Claims (GEO Billion), 2011–2016Table 9: Georgian Life Insurance – Incurred Loss (GEO Billion), 2007–2011Table 10: Georgian Life Insurance – Incurred Loss (GEO Billion), 2011–2016Table 11: Georgian Life Insurance – Loss Ratio (%), 2007–2011Table 12: Georgian Life Insurance – Loss Ratio (%), 2011–2016Table 13: Georgian Life Insurance – Combined Ratio (%), 2007–2011Table 14: Georgian Life Insurance – Combined Ratio (%), 2011–2016Table 15: Georgian Life Insurance – Total Assets (GEO Billion), 2007–2011Table 16: Georgian Life Insurance – Total Assets (GEO Billion), 2011–2016Table 17: Georgian Life Insurance – Total Investment Income (GEO Billion), 2007–2011Table 18: Georgian Life Insurance – Total Investment Income (GEO Billion), 2011–2016Table 19: Georgian Life Insurance – Retentions (GEO Billion), 2007–2011Table 20: Georgian Life Insurance – Retentions (GEO Billion), 2011–2016Table 21: Georgian Non-Life Insurance Written Premium by Category (GEO Billion), 2007–2011Table 22: Georgian Non-Life Insurance Written Premium by Category (US$ Billion), 2007–2011Table 23: Georgian Non-Life Insurance Written Premium by Category (GEO Billion), 2011–2016Table 24: Georgian Non-Life Insurance Written Premium by Category (US$ Billion), 2011–2016Table 25: Georgian Non-Life Insurance Market – Paid Claim (GEO Billion), 2007–2011Table 26: Georgian Non-Life Insurance Market – Paid Claim (GEO Billion), 2011–2016Table 27: Georgian Non-Life Insurance Market – Loss Ratio (%), 2007–2011Table 28: Georgian Non-Life Insurance Market – Loss Ratio (%), 2011–2016Table 29: Georgian Non-Life Insurance – Incurred Loss (GEO Billion), 2007–2011Table 30: Georgian Non-Life Insurance – Incurred Loss (GEO Billion), 2011–2016Table 31: Georgian Non-Life Insurance – Combined Ratio (%), 2007–2011Table 32: Georgian Non-Life Insurance – Combined Ratio (%), 2011–2016Table 33: Georgian Non-life Insurance – Total Assets (GEO Billion), 2007–2011Table 34: Georgian Non-life Insurance – Total Assets (GEO Billion), 2011–2016Table 35: Georgian Non-life Insurance – Total Investment Income (GEO Billion), 2007–2011Table 36: Georgian Non-life Insurance – Total Investment Income (GEO Billion), 2011–2016Table 37: Georgian Non-life Insurance – Retentions (GEO Billion), 2007–2011Table 38: Georgian Non-life Insurance – Retentions (GEO Billion), 2011–2016Table 39: Georgian Property Insurance Category – Written Premium (GEO Billion), 2007–2011Table 40: Georgian Property Insurance Category – Written Premium (GEO Billion), 2011–2016Table 41: Georgian Motor Insurance Category – Written Premium (GEO Billion), 2007–2011Table 42: Georgian Motor Insurance Category – Written Premium (GEO Billion), 2011–2016Table 43: Georgian Liability Insurance Category – Written Premium (GEO Billion), 2007–2011
  • 5. Table 44: Georgian Liability Insurance Category – Written Premium (GEO Billion), 2011–2016Table 45: Georgian Marine, Aviation and Transit Insurance Category – Written Premium (GEOBillion), 2007–2011Table 46: Georgian Marine, Aviation and Transit Insurance Category – Written Premium (GEOBillion), 2011–2016Table 47: Georgian Insurance Written Premium by Category (GEO Billion), 2007–2011Table 48: Georgian Personal Accident and Health Insurance Written Premium by Category (US$Billion), 2007–2011Table 49: Georgian Personal Accident and Health Insurance Written Premium by Category (GEOBillion), 2011–2016Table 50: Georgian Personal Accident and Health Insurance Written Premium by Category (US$Billion), 2011–2016Table 51: Georgian Personal Accident and Health Insurance Market – Paid Claim (GEO Billion),2007–2011Table 52: Georgian Personal Accident and Health Insurance Market – Paid Claim (GEO Billion),2011–2016Table 53: Georgian Personal Accident and Health Insurance Market –Loss Ratio (%), 2007–2011Table 54: Georgian Personal Accident and Health Insurance Market – Loss Ratio (%), 2011–2016Table 55: Georgian Personal Accident and Health Insurance – Incurred Loss (GEO Billion),2007–2011Table 56: Georgian Personal Accident and Health Insurance – Incurred Loss (GEO Billion),2011–2016Table 57: Georgian Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011Table 58: Georgian Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016Table 59: Georgian Personal Accident and Health Insurance – Total Assets (GEO Billion),2007–2011Table 60: Georgian Personal Accident and Health Insurance – Total Assets (GEO Billion),2011–2016Table 61: Georgian Personal Accident and Health Insurance – Total Investment Income (GEOBillion), 2007–2011Table 62: Georgian Personal Accident and Health Insurance – Total Investment Income (GEOBillion), 2011–2016Table 63: Georgian Personal Accident and Health Insurance – Retentions (GEO Billion),2007–2011Table 64: Georgian Personal Accident and Health Insurance – Retentions (GEO Billion),2011–2016Table 65: Georgian Personal Accident Insurance Category – Written Premium (GEO Billion),2007–2011Table 66: Georgian Personal Accident Insurance Category – Written Premium (GEO Billion),2011–2016Table 67: Georgian Health Insurance Category – Written Premium (GEO Billion), 2007–2011Table 68: Georgian Health Insurance Category – Written Premium (GEO Billion), 2011–2016
  • 6. Table 69: Georgian Travel Insurance Category – Written Premium (GEO Billion), 2007–2011Table 70: Georgian Travel Insurance Category – Written Premium (GEO Billion), 2011–2016Table 71: Georgian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 72: Georgian Life Insurance – Percentage of Reinsurance Ceded (%),2011–2016Table 73: Georgian Non-life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 74: Georgian Non-life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Table 75: Georgian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded(%), 2007–2011Table 76: Georgian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded(%), 2011–2016Table 77: Georgian Insurance Market Share, 2011Table 78: GPI Holding, Main ProductsTable 79: GPI Holding, Key EmployeesTable 80: Aldagi - BCI Insurance Company, Main ProductsTable 81: Aldagi - BCI Insurance Company, Key EmployeesTable 82: Alpha Insurance Company Limited (Georgia), Main ProductsTable 83: IC Group Insurance, Main ProductsTable 84: IC Group Insurance, Key EmployeesTable 85: Irao Group, Main ProductsTable 86: Irao Group, Key EmployeesTable 87: Unison, Main ProductsTable 88: Unison, Key EmployeesTable 89: Archimedes Global Georgia , Main ProductsTable 90: Archimedes Global Georgia , Key EmployeesTable 91: IMEDI L Insurance Co. , Main ProductsTable 92: IMEDI L Insurance Co. , Key EmployeesTable 93: Cartu Insurance Company Ltd, Main ProductsTable 94: Cartu Insurance Company Ltd, Key EmployeesTable 95: Taoinsurance , Main ProductsList of FiguresFigure 1: Georgian Insurance Overall Written Premium by Segment (GEO Billion), 2007–2016Figure 2: Georgian Insurance Market Dynamics by Segment, 2007–2016Figure 3: Georgian Life Insurance – Paid Claims (GEO Billion), 2007–2011Figure 4: Georgian Life Insurance – Paid Claims (GEO Billion), 2011–2016Figure 5: Georgian Life Insurance – Incurred Loss (GEO Billion), 2007–2011Figure 6: Georgian Life Insurance – Incurred Loss (GEO Billion), 2011–2016Figure 7: Georgian Life Insurance – Loss Ratio (%), 2007–2011Figure 8: Georgian Life Insurance – Loss Ratio (%), 2011–2016Figure 9: Georgian Life Insurance – Combined Ratio (%), 2007–2011Figure 10: Georgian Life Insurance – Combined Ratio (%), 2011–2016Figure 11: Georgian Life Insurance – Total Assets (GEO Billion), 2007–2011
  • 7. Figure 12: Georgian Life Insurance – Total Assets (GEO Billion), 2011–2016Figure 13: Georgian Life Insurance – Total Investment Income (GEO Billion), 2007–2011Figure 14: Georgian Life Insurance – Total Investment Income (GEO Billion), 2011–2016Figure 15: Georgian Life Insurance – Retentions (GEO Billion), 2007–2011Figure 16: Georgian Life Insurance – Retentions (GEO Billion), 2011–2016Figure 17: Georgian Life Insurance – Investment (GEO Billion), 2007–2011Figure 18: Georgian Life Insurance Penetration (Percentage of GDP), 2007–2011Figure 19: Georgian Life Insurance – Premium Per-capita (GEO), 2007–2011Figure 20: Georgian Non-Life Insurance Written Premium by Category (GEO Billion), 2007–2016Figure 21: Georgian Non-Life Insurance Written Premium by Category (% Share), 2011 and 2016Figure 22: Georgian Non-Life Insurance Market Dynamics by Category, 2007–2016Figure 23: Georgian Non-Life Insurance – Paid Claims by Category (GEO Billion), 2007–2011Figure 24: Georgian Non-Life Insurance – Paid Claims (GEO Billion), 2011–2016Figure 25: Georgian Non-Life Insurance – Loss Ratio (%), 2007–2011Figure 26: Georgian Non-Life Insurance – Loss Ratio (%), 2011–2016Figure 27: Georgian Non-Life Insurance – Incurred Loss (GEO Billion), 2007–2011Figure 28: Georgian Non-Life Insurance – Incurred Loss (GEO Billion), 2011–2016Figure 29: Georgian Non-Life Insurance – Combined Ratio (%), 2007–2011Figure 30: Georgian Non-Life Insurance – Combined Ratio (%), 2011–2016Figure 31: Georgian Non-life Insurance – Total Assets (GEO Billion), 2007–2011Figure 32: Georgian Non-life Insurance – Total Assets (GEO Billion), 2011–2016Figure 33: Georgian Non-life Insurance – Total Investment Income (GEO Billion), 2007–2011Figure 34: Georgian Non-life Insurance – Total Investment Income (GEO Billion), 2011–2016Figure 35: Georgian Non-life Insurance – Retentions (GEO Billion), 2007–2011Figure 36: Georgian Non-life Insurance – Retentions (US$ Billion), 2011–2016Figure 37: Georgian Non-life Insurance – Investment (GEO Billion), 2007–2011Figure 38: Georgian Non-life Insurance Penetration (Percentage of GDP), 2007–2011Figure 39: Georgian Non-life Insurance – Premium Per Capita (GEO), 2007–2011Figure 40: Georgian Property Insurance Category – Written Premium (GEO Billion), 2007–2011Figure 41: Georgian Property Insurance Category – Written Premium (GEO Billion), 2011–2016Figure 42: Georgian Motor Insurance Category – Written Premium (GEO Billion), 2007–2011Figure 43: Georgian Motor Insurance Category – Written Premium (GEO Billion), 2011–2016Figure 44: Georgian Liability Insurance Category – Written Premium (GEO Billion), 2007–2011Figure 45: Georgian Liability Insurance Category – Written Premium (GEO Billion), 2011–2016Figure 46: Georgian Marine, Aviation and Transit Insurance Category – Written Premium (GEOBillion), 2007–2011Figure 47: Georgian Marine, Aviation and Transit Insurance Category – Written Premium (GEOBillion), 2011–2016Figure 48: Georgian Personal Accident and Health Insurance Written Premium by Category (GEOBillion), 2007–2016Figure 49: Georgian Personal Accident and Health Insurance Written Premium by Category (%Share), 2011 and 2016
  • 8. Figure 50: Georgian Personal Accident and Health Insurance Market Dynamics by Category,2007–2016Figure 51: Georgian Personal Accident and Health Insurance – Paid Claims by Category (GEOBillion), 2007–2011Figure 52: Georgian Personal Accident and Health Insurance – Paid Claims (GEO Billion),2011–2016Figure 53: Georgian Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011Figure 54: Georgian Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016Figure 55: Georgian Personal Accident and Health Insurance – Incurred Loss (GEO Billion),2007–2011Figure 56: Georgian Personal Accident and Health Insurance – Incurred Loss (GEO Billion),2011–2016Figure 57: Georgian Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011Figure 58: Georgian Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016Figure 59: Georgian Personal Accident and Health Insurance – Total Assets (GEO Billion),2007–2011Figure 60: Georgian Personal Accident and Health Insurance – Total Assets (GEO Billion),2011–2016Figure 61: Georgian Personal Accident and Health Insurance – Total Investment Income (GEOBillion), 2007–2011Figure 62: Georgian Personal Accident and Health Insurance – Total Investment Income (GEOBillion), 2011–2016Figure 63: Georgian Personal Accident and Health Insurance – Retentions (GEO Billion),2007–2011Figure 64: Georgian Personal Accident and Health Insurance – Retentions (US$ Billion),2011–2016Figure 65: Georgian Personal Accident and Health Insurance – Investment (GEO Billion),2007–2011Figure 66: Georgian Personal Accident and Health Insurance Penetration (Percentage of GDP),2007–2011Figure 67: Georgian Personal Accident and Health Insurance – Premium Per Capita (GEO),2007–2011Figure 68: Georgian Personal Accident Insurance Category – Written Premium (GEO Billion),2007–2011Figure 69: Georgian Personal Accident Insurance Category – Written Premium (GEO Billion),2011–2016Figure 70: Georgian Health Insurance Category – Written Premium (GEO Billion), 2007–2011Figure 71: Georgian Health Insurance Category – Written Premium (GEO Billion), 2011–2016Figure 72: Georgian Travel Insurance Category – Written Premium (GEO Billion), 2007–2011Figure 73: Georgian Travel Insurance Category – Written Premium (GEO Billion), 2011–2016Figure 74: Georgian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 75: Georgian Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
  • 9. Figure 76: Georgian Non-life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 77: Georgian Non-life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Figure 78: Georgian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded(%), 2007–2011Figure 79: Georgian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded(%), 2011–2016Figure 80: Georgian Insurance Market – Market Share 2011Figure 81: Georgian GDP at Constant Prices (US$ Billion), 2007–2011Figure 82: Georgian GDP Per Capita at Constant Prices (US$), 2007–2011Figure 83: Georgian GDP at Current Prices (US$ Billion), 2007–2011Figure 84: Georgian Construction Net Output at Current Prices (US$ Billion), 2007–2011Figure 85: Georgian Construction Output at Current Prices as a Percentage of GDP (%),2007–2011Figure 86: Georgian Arable Land (Hectares), 2007–2011Figure 87: Georgian Exports as a Percentage of GDP (%), 2007–2011Figure 88: Georgian Number of Air Passengers (Million), 2007–2011Figure 89: Georgian Healthcare Expenditure Per Capita (US$), 2007–2011Figure 90: Georgian Employed Population (%), 2007–2011Figure 91: Georgian Annual Disposable Income (US$ Billion), 2007–2011Figure 92: Georgian Annual Disposable Income Per Capita (US$), 2007–2011Figure 93: Georgian Total Population (Million), 2007–2011Contact: sales@reportsandreports.com for more information.