According to Global Benefits Georgia Supervisory Board Chair Nino Kobakhidze, the ongoing conflict in the Middle East has had a notable impact on Georgia’s insurance sector, particularly through its effect on reinsurance and logistics-related risks. She told BM.GE that insurance premiums across different categories could rise by up to 15% this year.
Kobakhidze explained that the war has significantly influenced pricing policies, especially in cargo insurance, where insurers have been heavily involved. She noted that rising fuel and electricity costs also feed into higher insurance prices, as the sector is closely linked to healthcare services and imported auto parts used in repairs.
She warned that while the market is still growing, price increases combined with inflation could discourage some customers from purchasing insurance altogether. As a result, companies are trying to remain cautious and balance pricing with consumer affordability.
Kobakhidze said exact increases will vary by product and client segment, but premiums in some areas could rise between 7% and 15%, depending on risk exposure and insurance type.
