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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Georgian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Georgia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Georgia non-life (P&C) market as well as trends by line of business. Axco analysts also report on Georgia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Georgia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Georgia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Georgia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Georgia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Montenegro's economic dependence on tourism made it extremely vulnerable to the travel barriers erected against COVID-19, resulting in a 15.4% reduction in real GDP in 2020. Before this crisis, foreign investors had been ploughing money into new resort and marina developments, though most of the related insurance new business was written on a fronting basis and was therefore of little value to the local insurance industry. Domestic enterprises and consumers have extremely low insurance consciousness, which is reflected in the fact that there is almost no voluntary insurance: two of the largest lines are compulsory motor third party liability ....
This is a brief extract of information; more updated information may be available in the latest published report.