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Georgia: Insurance market declines in first quarter 2014 to $50.8 million


Georgia's insurance market declined 20% year on year in the first quarter of 2014 to 88.5 million Georgian laris ($50.8 million), reports Xprimm.

The decline has been attributed to lower premiums in the accident and health insurance segments.

The Georgian insurance market is dominated by JSC Aldagi BCI Insurance Co. and JSC GPI Holding Insurance Co., with market shares of 29.5% and 29.3%, respectively, reported Xprimm.

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