Just Published: "Governance, Risk and Compliance - The Georgian Insurance Industry"

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Georgia, including:

* An overview of the insurance regulatory framework in Georgia.
* The latest key changes and changes expected in Georgian insurance regulatory framework.
* Key regulations and market practices related to different types of insurance product in the country.
* Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Georgia.
* Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital, solvency and reserve requirements, and investment regulations.
* Details of the tax and legal systems in the country."

Full Report Details at
- http://www.fastmr.com/prod/1019717_governance_risk_compliance.aspx?afid=301

Report Highlights

* National Bank of Georgia is the government regulatory body supervising and regulating the Georgian insurance industry.
* 100% FDI is permitted in the Georgian insurance industry.
* National Bank does not permit insurance companies to carry out both life and non-life insurance business under a composite insurance license.
* The placement of non-admitted insurance is not permitted in the Georgian insurance industry. However Lloyd's underwriters are permitted to sell reinsurance business without license.
* All insurance companies registered as limited liability companies are required to change their legal status to form joint-stock companies before July 1, 2015."

Report Scope

* This report covers details of the insurance regulatory framework in Georgia.
* The report contains details of rules and regulations governing insurance products and insurance entities.
* The report lists and analyzes key trends and developments pertaining to the Georgian insurance regulatory framework.
* The report analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
* The report provides details of taxation imposed on insurance products and companies.

Reasons to Get this Report

* Gain insights into the insurance regulatory framework in Georgia.
* Track latest regulatory changes and expected changes impacting the Georgian insurance industry
* Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country
* Understand key regulations and market practices relating to various types of insurance product.

Companies Mentioned in this Report: Selbi insurance company, Eurospace, Aldagi BCI

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