The revenue of enterprises operating in Georgia’s financial services sector reached GEL 12.1 billion in 2024, up from GEL 10.5 billion in 2023,- according to data published by Geostat. The majority of income (76.9%) was generated from interest and related earnings, while 9.5% came from commission fees and the remaining 13.6% from other types of revenue.
By the end of 2024, companies in the financial services sector held GEL 2.9 billion in cash, and the residual value of their fixed and non-produced assets stood at GEL 2.5 billion. The average annual number of employees in the sector was 42,500, with women accounting for 65.9% of the workforce, underscoring the strong representation of women in Georgia’s financial industry.
Insurance companies also reported notable figures during the year. Gross premiums from direct insurance activities totaled GEL 1.1 billion, distributed across several categories: 41.7% for health insurance, 11.8% for property insurance, 9.2% for life insurance, 6.7% for motor liability, 1.4% for accident insurance, and 29.2% for other types.
Meanwhile, total insurance claims paid (gross) amounted to GEL 707.6 million. Of this amount, 52.6% was for health insurance, 5.5% for life insurance, 4.6% for motor liability, 4.5% for property insurance, and 0.3% for accident insurance, while the remaining 32.5% covered other categories.
