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Dividends declared (per SOCE filings): FY2022 15,228 · FY2023 15,734 · FY2024 18,934 — 3-yr total 49,896
JSC Insurance Company Aldagi is Georgia's oldest (founded 1990) and leading property & casualty (P&C) insurer, and the P&C insurance business of Georgia Capital PLC (LSE: CGEO), to which it passed in the 2018 Bank of Georgia demerger. It writes property, motor/CASCO, liability, cargo, agro and travel lines (it exited health insurance in the 2014 reorganization) and in 2022 launched Aldagi RE, the first reinsurer in the Caucasus.
Group parent — controls 1 company · ownership
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 | 40.1% | 36.9% | 40.5% | 43.6% | 48.7% | 45.4% | 55.6% | 54.4% | 53.2% |
| Acquisition / Commission Ratio | 8.7% | 10.7% | 13.1% | 8.6% | 8.6% | 8.1% | 9.9% | 10.1% | 11.2% |
| Admin Expense Ratio | 25.4% | 28.5% | 31.7% | 30.9% | 26.4% | 26.7% | 25.2% | 23.5% | 22.9% |
| Expense Ratio | 34.2% | 39.2% | 44.8% | 39.5% | 35.0% | 34.8% | 35.1% | 33.7% | 34.1% |
| Combined Ratio | 74.3% | 76.1% | 85.3% | 83.2% | 83.8% | 80.3% | 90.7% | 88.1% | 87.4% |
| Retention Ratio | 67.7% | 74.3% | 68.5% | 62.1% | 65.6% | 68.0% | 63.9% | 68.8% | 70.2% |
| Underwriting Margin | 51.1% | 52.4% | 46.4% | 47.7% | 42.6% | 46.4% | 34.5% | 35.4% | 35.6% |
| Investment Income / Net Premiums | 5.5% | 9.1% | 9.4% | 11.4% | 9.3% | 0.9% | 11.7% | 7.3% | 8.7% |
| Net Margin | 27.6% | 26.4% | 22.4% | 24.3% | 22.6% | 16.7% | 18.6% | 19.9% | 19.2% |
| ROE | 34.4% | 32.5% | 26.7% | 26.0% | 22.3% | 18.6% | 23.3% | 32.4% | 33.0% |
| ROA | 11.4% | 11.4% | 7.7% | 8.9% | 9.5% | 7.1% | 7.9% | 10.4% | 10.6% |
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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