Insurance policy prices in Georgia are likely to continue rising this year, driven by market dynamics rather than any deliberate pricing policy, according to Davit Onoprishvili, head of the State Insurance Supervision Service. Speaking to BM.GE, he said health insurance premiums are particularly influenced by higher medical service costs, as insurers act as intermediaries between healthcare providers and customers. As a result, increases in healthcare expenses are typically reflected in policy prices when contracts are renewed.
Onoprishvili said it is difficult to estimate the exact scale of future price increases, but some growth is expected as inflation and economic expansion continue. He stressed that premium increases should remain in line with broader economic trends rather than outpace them. Rising wages, particularly in the public sector, where salaries have increased by around 10% annually in recent years, also help offset higher insurance costs for consumers.
The insurance sector grew by 15% during the first five months of 2026, maintaining the strong growth trajectory seen in recent years. According to the regulator, expansion has been recorded across all insurance segments, including health insurance. He also cited the introduction of mandatory insurance for foreign tourists as a key development, noting that the number of insured visitors has nearly doubled. Onoprishvili said the measure is consistent with international practice and strengthens both risk management and the insurance market.
Looking ahead, the regulator expects Georgia's insurance market to continue expanding, with the sector potentially doubling in size over the next five years. He also anticipates a wider range of insurance products becoming available as digitalization accelerates, with more consumers purchasing policies online and using digital platforms to compare insurance offers.
