ID 205023856 · FY 2017–2025 · 9 years
JSC IRAO (International Reinsurance and Insurance Company) is a long-standing Georgian general insurer founded in 1996, writing P&C, motor, health and travel lines and offering reinsurance capacity. Family-owned, mid-sized by premiums.
curated 2026-06-03irao.geinsurance.gov.ge
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.
| Line item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Earned Premium / Insurance Revenue | 20,166 | 18,700 | 22,739 | 25,832 | 31,397 | 43,127 | 50,927 | 58,787 | 68,274 | +16.5% |
| Net Insurance Claims & Benefits | -15,184 | -11,391 | -14,177 | -15,265 | -21,379 | -28,540 | -31,265 | -35,901 | -39,189 | +12.6% |
| Net Commission Income / (Expense) | 716 | 1,149 | 1,090 | 1,126 | 933 | 373 | -77 | -1,234 | -3,425 | nmf |
| Net Underwriting Result | 5,698 | 8,458 | 9,653 | 11,693 | 10,951 | 14,960 | 19,584 | 21,653 | 25,660 | +20.7% |
| Investment Income | 78 | 361 | 424 | 982 | 1,140 | 1,547 | 2,450 | 3,385 | 4,622 | +66.5% |
| Operating & Administrative Expenses | -6,871 | -8,022 | -10,816 | -11,861 | -12,721 | -14,602 | -17,140 | -20,047 | -22,706 | +16.1% |
| Other Income / (Expense), net | 1,174 | 262 | -4,237 | -466 | 1,228 | -924 | -1,436 | 126 | -1,122 | nmf |
| Profit Before Tax | 79 | 1,057 | -4,977 | 349 | 598 | 982 | 3,458 | 5,117 | 6,453 | +73.4% |
| Income Tax | -107 | 137 | 146 | -375 | -15 | -300 | -570 | -29 | 0 | -16.8% |
| Net Profit / (Loss) | -28 | 1,195 | -4,831 | -26 | 583 | 682 | 2,888 | 5,087 | 6,453 | nmf |
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.
| ₾3.8m |
4.3% |
| 34.4% |
| General TPL | ₾2.3m | 2.6% | -44.3% |
| Suretyships | ₾1.6m | 1.8% | 20.9% |
| Personal Accident | ₾1.0m | 1.2% | 2.7% |
| Travel | ₾847k | 1.0% | 17.5% |
| Misc. Financial Loss | ₾681k | 0.8% | -7.0% |
| Aviation Hull | ₾101k | 0.1% | 5.0% |
| Railway | ₾22k | 0.0% | 0.5% |
Ownership & directors from companyinfo.ge (public corporate registry).