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Dividends declared (per SOCE filings): FY2022 1,050 · FY2023 5,061 · FY2024 6,428 — 3-yr total 12,539
JSC Insurance Company Imedi L is Georgia's market-leading medical (health) insurer and the core of Georgia Capital PLC's (LSE: CGEO) medical-insurance business, which it also serves with personal-accident, travel and bundled-life products. Imedi L dates to the late 1990s and was the group's dedicated health carrier under Georgia Healthcare Group; in Georgia Capital's 2024 reorganization it was carved out of GHG into a separate common-control entity within the insurance business (alongside ARDI).
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 | 79.3% | 70.3% | 74.8% | 70.6% | 71.2% | 70.7% | 70.1% | 70.3% | 68.9% |
| Acquisition / Commission Ratio | 6.5% | 4.2% | 2.6% | 4.4% | 5.2% | 5.1% | 4.4% | 3.9% | 4.4% |
| Admin Expense Ratio | 19.1% | 18.6% | 14.8% | 19.0% | 19.8% | 23.3% | 20.1% | 19.3% | 19.4% |
| Expense Ratio | 25.6% | 22.8% | 17.4% | 23.4% | 25.0% | 28.4% | 24.5% | 23.2% | 23.7% |
| Combined Ratio | 105.0% | 93.0% | 92.2% | 94.0% | 96.2% | 99.1% | 94.6% | 93.4% | 92.6% |
| Retention Ratio | 107.8% | 90.1% | 93.5% | 101.4% | 101.7% | 93.5% | 97.8% | 93.0% | 92.1% |
| Underwriting Margin | 14.1% | 25.5% | 22.6% | 25.0% | 23.6% | 24.2% | 25.5% | 25.9% | 26.7% |
| Investment Income / Net Premiums | 0.8% | 2.1% | 1.9% | 3.8% | 4.0% | 4.0% | 3.9% | 3.6% | 3.4% |
| Net Margin | -5.6% | 5.3% | 7.2% | 6.4% | 5.5% | 5.0% | 7.0% | 8.4% | 9.3% |
| ROE | -33.5% | 13.4% | 21.3% | 16.1% | 13.9% | 11.8% | 19.0% | 32.9% | 38.3% |
| ROA | -6.8% | 4.9% | 7.6% | 5.9% | 5.4% | 4.3% | 6.8% | 9.5% | 10.8% |
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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