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Dividends declared (per SOCE filings): FY2022 0 · FY2023 5,190 · FY2024 7,407 — 3-yr total 12,597
JSC Insurance Company GPI Holding is one of Georgia's three largest insurers, majority-owned by Vienna Insurance Group (VIG, Austria's largest insurer). It writes the full mix of P&C, motor, health and life lines through Georgia's largest agent network.
FY2023 basis change: the insurance industry adopted IFRS 17 in FY2023. Figures here come from the regulator's fixed-form 12-month returns (consistent line codes across all years), but the underlying measurement basis still shifts at that boundary. Read trends across the FY2022/FY2023 line with care.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Loss Ratio | 69.6% | 75.8% | 74.1% | 68.7% | 73.8% | 67.2% | 65.6% | 60.3% | 67.6% |
| Acquisition / Commission Ratio | 4.4% | 1.0% | 1.8% | 0.4% | 15.4% | 17.5% | 19.4% | 23.5% | 2.4% |
| Admin Expense Ratio | 28.0% | 30.2% | 36.2% | 30.1% | 53.3% | 51.0% | 55.3% | 54.0% | 31.6% |
| Expense Ratio | 32.4% | 31.2% | 38.1% | 30.5% | 68.7% | 68.4% | 74.7% | 77.5% | 34.0% |
| Combined Ratio | 101.9% | 106.9% | 112.1% | 99.2% | 142.5% | 135.6% | 140.3% | 137.8% | 101.6% |
| Retention Ratio | 81.1% | 82.1% | 75.4% | 77.1% | 39.9% | 40.2% | 40.6% | 40.9% | 66.5% |
| Underwriting Margin | 34.9% | 25.2% | 27.7% | 31.0% | 41.7% | 50.3% | 53.9% | 63.2% | 34.8% |
| Investment Income / Net Premiums | 1.3% | 1.3% | 0.9% | 3.2% | 7.2% | 8.0% | 8.0% | 6.7% | 5.1% |
| Net Margin | 8.4% | 3.6% | -8.7% | 2.2% | 0.0% | 5.5% | 6.1% | 16.2% | 6.5% |
| ROE | 23.9% | 7.8% | -21.9% | 6.2% | 0.0% | 8.9% | 11.1% | 30.5% | 21.5% |
| ROA | 6.3% | 2.8% | -6.1% | 1.5% | 0.0% | 2.5% | 2.7% | 7.4% | 5.3% |
Statements and underwriting KPIs come from the company's 12-month regulatory returns filed with the Insurance State Supervision Service (insurance.gov.ge); reportal.ge annual-report PDFs stay linked on the year headers where available.
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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