The Supervisory Board of the Insurance State Supervision Service held a meeting in the Parliament of Georgia
Today, a meeting of the Supervisory Board of the Insurance State Supervision Service (ISSSG) was held at the Parliament of Georgia. The meeting was attended by the Chairman of the Supervisory Board, Mr. Paata Kvizhinadze (Chair of the Budget and Finance Committee of the Parliament) and Board members: Minister of Finance Mr. Lasha Khutsishvili; Minister of Environmental Protection and Agriculture Mr. David Songhulashvili; Deputy Minister of Economy and Sustainable Development Mr. Irakli Nadareishvili; Deputy Minister of IDPs, Labor, Health and Social Affairs Mr. Giorgi Tsagareishvili; President of the Business Association Mr. Soso Pkhakadze; and President of the Employers' Association Mr. Elguja Meladze.
The Chairman of the ISSSG, Mr. David Onoprishvili, presented an overview of the insurance sector's performance in 2025, along with the sector's results for the first five months of 2026. The members of the Supervisory Board positively assessed the ISSSG 's activities.
During the meeting the ISSSG’s initiative was also introduced to establish a training center to promote professional development in the insurance sector. The center will focus on training certified insurance specialists and providing professional training for employees in the insurance sector.
The Chairman of the ISSSG noted that the sector is growing steadily, and insurance premiums have doubled over the last five years. The gross written premium exceeded GEL 1.4 billion in 2025, which is 12% higher than the corresponding figure for the previous year. As of 2025, there are 19 insurance companies and 26 insurance brokers registered in Georgia. The largest share of the insurance market is held by health insurance with 43%, followed by motor vehicle insurance with 21% of the market.
The Chairman of the ISSSG emphasized the role of the supervisory authority, which primarily focuses on maintaining the financial stability of insurance companies and protecting consumers by ensuring that insurers are able to meet their obligations under insurance policies. In addition, the ISSSG's growing international recognition was highlighted, reflecting its active participation in the work of the International Association of Insurance Supervisors (IAIS), the global standard-setting body that develops global insurance policy and recommendations. The Chairman of the ISSSG has already been a member of the IAIS Executive Committee (ExCo) for two years, contributing directly to the organization's strategic decision-making process.