The Parliament hosted the sitting of the Supervisory Board of the Insurance State Supervision Service.

The meeting was attended by the Chair of the Board, Paata Kvizhinadze, the standing members of the Board: Finance Minister, Lasha Khutsishvili, the Environmental Protection and Agriculture Minister, David Songulashvili, the IDPs, Labor, Health and Social Protection Minister, Mikheil Sarjveladze, the President of the Business Association, Soso Pkhakadze, and the President of the Employers’ Association, Elguja Meladze; as well as the Head of the Insurance State Supervision Service, David Onoprishvili, and the Deputy Economic and Sustainable Development Minister, Irakli Nadareishvili.

D. Onoprishvili introduced the insurance sector report for 2024, the 5-month report for 2025, and the strategy for 2025-2029.

The discourse encompassed the achievements, challenges and plans in the sector.

According to Paata Kvizhinadze, Chair of the Budget and Finance Committee, the insurance sector is experiencing significant growth. Currently, 19 companies operate in the country, and the sums they attracted in 2024 amounted to 259 ml GEL. This figure surpasses the index for 2023 by 18%.

“The insurance sector is expanding in all directions, but medical insurance remains the leading field. Notably, in 2024, the sector implemented the Estonian model of profit taxation, which facilitated increased reinvestment. Additionally, we have emphasised the importance of consumer rights and the need to enhance the qualifications of our personnel”, - he noted.