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Israeli Letter to the Prime Minister regarding Archimedes Global Georgia

Published: August 28, 2013 | 8:40 am
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Is there a deliberate marginalisation of Israeli investment in Georgia? Israeli investors have addressed the Prime Minister Bidzina Ivanishvili through an emergency letter, and asked for a clarification in this regard. The letter addresses and is critical of the current issues at the insurance company Archimedes Global Georgia, where interim management has been appointed. The Health Minister Davit Sergeenko has told TV3 that he is aware of the letter and its contents.
The decision to forcibly appoint an interim manager at Archimedes Global Georgia was taken by the Insurance Supervisory Service. According to the head of ISS Lasha Nikoladze, financial inspections carried out at the insurance companies found Archimedes to be the most heavily indebted one of them. With the company being unable to deal with the problems independently, the decision was made by the ISS to appoint an interim manager.
Commenting on the issue of the appointment of interim management, the head of Archimedes Global Georgia has stated that the company is fully cooperating with the ISS, and is willing to assist in any way necessary. However, he was unable to comment specifically on the letter sent to the Prime Minister by the company owners.
In spite of the existing problems and the appointment of interim management, Archimedes Global Georgia continues to operate and serve its customers as normal.

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