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Dividends declared (per SOCE filings): FY2024 3,000
JSC ARDI is a Georgian insurer (founded 2010) whose book is dominated by medical/health insurance, with motor, property and travel lines alongside. Georgia Capital PLC (LSE: CGEO) took control in early 2024, combining ARDI with Imedi L in its medical-insurance business — together roughly a third of Georgia's medical-insurance market. ARDI is also a leading medical insurer for foreign residents and visitors.
| Ratio | 2024 | 2025 |
|---|---|---|
| Loss Ratio | 66.7% | 68.2% |
| Acquisition / Commission Ratio | 5.8% | 5.1% |
| Admin Expense Ratio | 17.8% | 19.6% |
| Expense Ratio | 23.6% | 24.7% |
| Combined Ratio | 90.3% | 92.8% |
| Retention Ratio | 58.8% | 88.9% |
| Underwriting Margin | 27.5% | 26.8% |
| Investment Income / Net Premiums | 2.8% | 3.8% |
| Net Margin | 11.5% | 10.1% |
| ROE | 19.6% | 27.3% |
| ROA | 7.3% | 9.4% |
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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