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Changes on the Insurance Market caused by Aldagi BCI’s Decision to become Independent

Published: July 5, 2013 | 11:52 am
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What will change on the Georgian insurance market if Aldagi BCI were to split from the Bank of Georgia? A rebranding process has already started at Aldagi BCI, whereby the name, the colours and the logo of the company are to be changed, as it seeks to become independent. The company will henceforth be simply known as Aldagi, and its primary colour will be green. The head of the Insurance Association Devi Khechinaishvili has told TV3 that there is nothing unusual taking place in this process, and he therefore expects no significant changes to occur on the insurance market.

Aldagi was the first insurance company on the Georgian market. Its name was changed to Aldagi BCI following the company’s acquisition by the Bank of Georgia. In recent years, it has become the largest insurance company in Georgia, and also a significant fixture on the hospitality market. Aldagi has acquired another one of the oldest local insurance companies, Imedi-L. However, the latter’s founders have claimed to have been forced into the sale under the previous government, and are naming the former Prime Minister and the Bank of Georgia as the chief culprits.

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