BAKU, Azerbaijan, Oct. 15
By Maryana Akhmedova – Trend:
The declared revenues of enterprises engaged in financial services in Georgia in 2020 amounted to 5.8 billion Georgian lari ($1.8 billion), Trend reports via National Statistics Office (Geostat)
According to Geostat, 76.6 percent of the revenues accounted for interest and related income, 8.8 percent for commissions, and the remaining 14.6 percent for other types of income.
Money held by enterprises engaged in financial services by the end of 2020 amounted to 2.1 billion Georgian lari ($665.1 million) in cash, the report said.
Fixed and non-produced assets balance sheet value reached 1.7 billion Georgian lari ($538.5 million) by the end of 2020, Geostat said.
According to the report, the average annual number of employees in financial services enterprises was 36,000 people, of which 61.1 percent were women.
The earned premium of insurance companies in 2020 amounted to 620.2 million Georgian lari ($196,465), 40 percent of which fell on medical (health) insurance, 16 percent – on property insurance, 7.9 percent – on life insurance, 6.1 percent – on civil liability insurance related to the use of land transport, 1.8 percent - on accident insurance. The rest (28.2 percent) is allocated to other types of insurance.
The accrued insurance loss incurred by insurance companies in 2020 amounted to 378.7 million Georgian lari ($119,963, of which 51.9 percent is assigned to medical (health) insurance, 14.1 percent – to property insurance, 5.7 percent – to life insurance, 2.9 percent – to civil liability insurance related to the use of land transport, 0.2 percent – to accident insurance, the rest (25.2 percent) is allocated on other types of insurance.
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