Insurance company "Ardi" will have new investors by the end of the year. The general director of "Ardi", Mikheil Japaridze, confirms the negotiations on the sale of the company.
As Mikheil Japaridze explains while visiting BMGTV, negotiations with both international and local investors have been going on for a long time.
"Due to the company's size and regulations on the market, the company needs a more profiled investor, a larger one compared to the current situation," Mikheil Japaridze said.
The general director of "Ardi" states that the volume of the transaction will be one of the largest in the history of the Georgian insurance market industry, and it will probably be completed by the end of 2023, although he did not specify the investment amount.
According to data, in 9 months of 2023, the insurance company "Ardi" had an increase in the direction of the collected premium. The premium raised amounted to GEL 76 million, while the figure stood at GEL 64 million in the same period of 2022. "Ardi" compensated GEL 56 million losses in 2023, while this figure was GEL 39 million for 9 months of 2022.