GPI Holding Generated 25 percent more Insurance Premium in 2009 vs. 2008

GPI Holding insurance company generated insurance premium worth 63.124 million GEL, up 25 percent compared to 2008.

GPI Holding ranks second on the insurance market in terms of the volume of generated premium with a 17.5 percent market share.

In the reporting period GPI Holding paid claims worth 32.523 million GEL, up 32 percent year on year.

The health insurance services rank first in the company insurance portfolio with 44.453 million GEL. Land transport insurance is second with 6.556 million GEL and life insurance is third with 3.809 million GEL.

GPI Holding was founded in 2001 as the first pension fund in Georgia. Vienna Insurance Group owns a 50 percent stake in the company.

The insurance sector of Georgia consisted of 14 insurance companies in 2009 and they generated insurance premium worth 360 449 125 GEL, up 33 percent vs. 2008.