David Onoprishvili, head of the Insurance Supervision Agency, expects the sector's revenue will exceed GEL 1.2 billion this year.
As of him, regarding the sector's results, the increase is obvious compared to the last year.
"In 2023, insurance premiums exceeded GEL 1 billion, while this year insurance sector's revenue will already exceed GEL 1.2 billion and may even reach GEL 1.3 billion, the increase is obvious," Onoprishvili noted.
He points out that the population has become more aware of the product and trust has increased towards the insurance sector.
"According to our assessment, people's demand and trust towards the insurance have increased, because insurance protects a person from possible financial risks. When you are not insured and an accident happens to you, if it is a car, property, health or other case, you will have to pay much more if you do not have insurance. We have been observing for years that the population has become much more aware of the product. Now, we are working significantly on financial education," Onoprishvili said.
