Georgia’s insurance sector is expanding at a noticeably slower pace this year, according to the insurance company "Ardi". As General Director Mikheil Japaridze told BMG, the market’s growth rate for the first nine months dropped to around 11%, compared to 16 or 18% annual growth recorded in previous years.
Japaridze explained that the increase in premiums is driven more by price hikes than by a rise in the number of insured clients. In health insurance, the number of insured persons grew by only 4%, while premium volume increased by 11%. A similar trend is seen in auto insurance, where premiums rose by 20%, but insured vehicles increased by just 9%.
According to him, this indicates that insurance policy prices are growing two to three times faster than the customer base. He also noted a shift in market dynamics: retail insurance is expanding more rapidly than corporate insurance, as companies have become more cautious in adjusting budgets amid rising costs.
Data from the State Insurance Supervision Service confirms that insurers collected nearly GEL 1.1 billion in premiums during the first nine months of 2025, an 11.6% increase year-over-year—solid growth, but slower than in previous years.
