100% FDI is Permitted in the Georgian Insurance Industry

Date: 2015-09-10

“• National Bank of Georgia is the government regulatory body supervising and regulating the Georgian insurance industry.

• 100% FDI is permitted in the Georgian insurance industry.

• National Bank does not permit insurance companies to carry out both life and non-life insurance business under a composite insurance license.

• The placement of non-admitted insurance is not permitted in the Georgian insurance industry. However Lloyd’s underwriters are permitted to sell reinsurance business without license.

• All insurance companies registered as limited liability companies are required to change their legal status to form joint-stock companies before July 1, 2015.”

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