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The Insurance Industry in Georgia, Key Trends and Opportunities to 2020

  • October 2016
  • -
  • Timetric
  • -
  • 127 pages

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Synopsis
Timetric’s '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 Timetric’s 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.

Summary
Timetric’s '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

Scope
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.

Key Highlights
- 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.



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