GPI Holding
JSC GPI Holding or GPI (Georgian known as სადაზღვევო კომპანია ჯიპიაი ჰოლდინგი) is one of Georgia's leading insurance companies.
The company was founded on May 8, 2001 as the first private pension fund in Georgia. From the very beginning, it made clear that in the nearest future, GPI Holding would be the only company within the Georgian insurance space who would mainly strive for the promotion of employees’ social protection in the country’s enterprises currently in operation. Among the Company founders, there are TBC Bank – a leading bank in the country and TBIH Group – one of the largest financial companies in the Eastern Europe, which holds and manages insurance and pension companies in Bulgaria, Romania, Croatia, Slovenia, Serbia, Ukraine and Russia.
GPI Holding actively got into the Georgian insurance market since the beginning of 2002 and achieved significant results for the very first year of operation in various fields of insurance.
According to data of the year 2006, the Company is in the lead of other insurance companies by the insurance premiums attracted and the market share achieved. During the year 2006, total sales of GPI Holding has comprised USD 8 149 061 while the growth in attracted premiums has achieved 87% as compared to the previous year.
In 2006, a market share of the Company came to 21.7%.
According to data of 2006, GPI Holding is also in lead of health insurance companies: here, the sales makes up USD 3,745,000. Retirement insurance is one of the strategic lines of the company and for the time being, GPI permanently keeps market leadership in this field: the company’s retirement plan encompasses up to 9000 individual members; total pension assets in 2006 exceeded USD 940,000 while its market share in this direction came to 42%. At present, GPI Holding possesses the largest agency network all over the country and therefore, offers flexible and comfortable services to its customers.
Innovative approach, unique insurance products tailored to local needs, high quality of service and motivated team of employees – these are the factors, which preconditioned the fast growing of GPI Holding on the Georgian market.
GPI Holding’s corporate clients are leading Georgian banks, real estate and construction companies, oil companies and several hundreds of medium and small size businesses. The company also takes a stable stand on the retail insurance market.