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Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
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.
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 | 75.3% | 60.9% | 62.3% | 59.1% | 68.1% | 66.2% | 61.4% | 61.1% | 57.4% |
| Acquisition / Commission Ratio | 3.6% | 6.1% | 4.8% | 4.4% | 3.0% | 0.9% | 0.2% | 2.1% | 5.0% |
| Admin Expense Ratio | 34.1% | 42.9% | 47.6% | 45.9% | 40.5% | 33.9% | 33.7% | 34.1% | 33.3% |
| Expense Ratio | 37.6% | 49.0% | 52.4% | 50.3% | 43.5% | 34.7% | 33.8% | 36.2% | 38.3% |
| Combined Ratio | 112.9% | 110.0% | 114.7% | 109.4% | 111.6% | 100.9% | 95.2% | 97.3% | 95.7% |
| Retention Ratio | 84.8% | 64.2% | 64.6% | 67.9% | 64.0% | 68.6% | 72.7% | 70.1% | 75.0% |
| Underwriting Margin | 28.3% | 45.2% | 42.5% | 45.3% | 34.9% | 34.7% | 38.5% | 36.8% | 37.6% |
| Investment Income / Net Premiums | 0.4% | 1.9% | 1.9% | 3.8% | 3.6% | 3.6% | 4.8% | 5.8% | 6.8% |
| Net Margin | -0.1% | 6.4% | -21.2% | -0.1% | 1.9% | 1.6% | 5.7% | 8.7% | 9.5% |
| ROE | -0.3% | 9.4% | -61.1% | -0.3% | 5.3% | 5.9% | 19.9% | 25.9% | 24.7% |
| ROA | -0.1% | 1.6% | -8.4% | -0.0% | 0.8% | 0.9% | 3.6% | 5.4% | 6.3% |
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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