Finance

Half of the market in life insurance is occupied by TBC insurance

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Tbilisi (GBC) - According to the January-September data, the premium collected from the life insurance in Georgia amounted to 66.11 million GEL, which was 20% higher than the figure of the same period of 2022 (55.1 million GEL). "TBC Insurance" was the leader in terms of premiums collected in life insurance, it held almost half (48%) of the market - 31.7 million GEL.

"Aldagi" was in the second place with 20.9 million GEL, it occupied 32% of the market. The third and fourth places were occupied by "Imedi L" and "GPIi", respectively with 5.4 million GEL and 2.7 million GEL. "Irao" completes the top five, the company had raised 1.5 million GEL and held only 2% of the market.

During 9 months of 2023, the insurance premium collected from direct insurance activities amounted to 818 million GEL, and in the third quarter of 2022 it was 704 million GEL.

According to the results of 9 months of this year, the insurance profit of the insurers was 190.9 million GEL, and the net profit was 63.5 million GEL, while in the same period last year, the insurance profit was 157 million GEL, and the net profit was 35 million GEL.

The total amount of assets of insurance companies is 1.314 billion GEL, and the capital is 370.2 million GEL. In the third quarter of 2022, assets were 1.152 billion GEL, and capital was 341 million GEL.

As of September 30, 2023, there are 18 registered insurance companies holding life and non-life insurance licenses.

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TBC switches to quarterly dividend payment, 1Q25 - GEL1.5

The 1Q 2025 Dividend will be payable in Pounds Sterling to ordinary shareholders of TBC PLC on the register of members at the close of business on the record date of 15 August 2025, pursuant to the following timetable: Ex-Dividend Date: 14 August 2025 Record Date: 15 August 2025 Currency Conversion Date: 15 August 2025 Payment Date: 5 September 2025 The Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payments on the conversion date of 15 August 2025 will be the average exchange rate of the National Bank of Georgia for the period of 11 August 2025 to and including of 15 August 2025 (5 days average).“I am pleased to announce that the Board has approved the decision to issue quarterly dividends, which will contribute to the regular growth of shareholder value. This step was made possible by the strong operating performance, business predictability and prudent capital management. Accordingly, the Board has declared an interim dividend for 1Q25 in the amount of 1.5 GEL per share,” said Vakhtang Butskhrikidze, CEO of TBC PLC.

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The CCI Increased By 2.2% In March Y-O-Y

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Georgian residents’ trips abroad down by 4.4%

From the total number of border crossings, visits by Georgian resident visitors amounted to 482,100, which is 7.6 per cent less than the same period in 2024.The GeoStat reports that Georgian residents made 323,100 tourist-type visits abroad, which is 1.7 per cent lower year-on-year. The majority of visits, 47.1 per cent, were made by Georgian residents aged 31-50, while visits made by women constituted 44.9 per cent of all visits.Additionally, according to GeoStat, during the first quarter of 2025, the largest portion of visits - 36.6 per cent - was made to visit friends and relatives. Most visits were to Turkey and Armenia, with 184,900 and 70,200 visits, respectively.The average number of nights spent during visits in the first quarter of 2025 was 6.7, which is 4.0 per cent higher than the figure recorded in the first quarter of 2024 (6.4 nights). Repeat visits accounted for 98.6 per cent of all visits.Expenses incurred during visits in the reporting period amounted to GEL 481.5 million, which is 5.7 per cent higher than last year. The average expenditure per visit increased by 14.4 per cent compared to the first quarter of 2024, reaching GEL 998.8.

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₾319 million profit, 23% ROE - TBC PLC publishes 1Q25 results

According to the statement of TBC PLC CEO Vakhtang Butskiridze, they had a significant increase in the issuance of new cards, both in the Georgian and Uzbek markets.“I am pleased to report a strong start to 2025, which is particularly welcome given the uncertain global backdrop. In 1Q 2025, our operating income increased by 25% year-on-year and amounted to GEL 774 million, while our net profit reached GEL 319 million, up 7% year-on-year, delivering above 23% ROE.It was a very active quarter in building out our recent pipeline of new product launches. This included excellent growth in the issuance of our new Georgian daily banking product, TBC Card, with new card issuance almost tripling in the first quarter of 2025 compared to the same period last year. Meanwhile, in Uzbekistan, our Salom Card daily banking product and Osmon credit card have both hit the ground running, with over 275,000 cards issued by the end of the first quarter”, - Butskhrikidze said.According to him, TBC recently extended their SME digital banking offering to include unsecured loans as they look to develop the huge untapped opportunity within the SME sector in Uzbekistan.As we offer new products and improved customer experience, we in turn continue to see strong customer growth, with digital monthly active users (“MAU”) reaching 7.2 million at the Group level, up by 1.6 million, or 28%, year-on-year.As of Butskhrikidze, over one-third of their users engage with TBC’s digital platforms on a daily basis, which is an excellent indicator of user loyalty and engagement.The group will present the results to investors today at 2:00 PM BST.

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GEL Volume Is Up In Circulation

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Paysera still could not make a profit in Q1/2025

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