Economy Minister highlights development of Georgia’s insurance sector at int’s conference

Georgian Economy Minister Levan Davitashvili on Thursday highlighted the development of the insurance sector in the country and noted related legislation was in the process of “intensive convergence” with the European Union and international requirements.

Speaking at the Central, Eastern European and Transcaucasia Regional Conference of the International Association of Insurance Supervisors, Davitashvili said the event was the first seminar of the kind hosted in Georgia, which proved the country was an “active member of the international insurance community”.

Established in 1994, the IAIS is a voluntary membership organisation of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97 percent of the world’s insurance premiums.