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IC Group Insurance Company Generated Insurance Premium worth 51 892 032 GEL in 2009

IC Group insurance company generated insurance premium worth 51 892 032 GEL in 2009.

In spring 2009 IC Group acquired People’s Insurance. In 2008 both companies generated insurance premium worth 42 155 434 GEL, including IC Group - 17 988 511 GEL. Consequently, following the merger the company improved the annualized indicator by 23 percent.

In 2009 IC Group paid claims worth 27 706 688 GEL, up 158 percent year on year.

Health insurance product ranks first in the IC group insurance portfolio in terms of generated insurance premium with 42 484 484 GEL. Aviation risks insurance ranks second with 4 682 782 GEL and insurance of fulfillment of liabilities rank third with 1 962 263 GFEL.

IC Group acquired a 100 percent stake of People’s Insurance in May 2009 for 11 million GEL.