Georgia Capital PLC Financial and Operational Report
Private large
portfolio companies
EXTERNALLY VALUED
P&C INSURANCE BUSINESS OVERVIEW
Distribution Mix (GPW %) | 9M23
COMBINED RATIO
GEORGIA
CAPITAL
MTPL Channel
3%
+22.8ppts
+10.1ppts.
Partnerships with
Financial
Institutions
99.5%
89.7%
73.9% 77.5%
72.6% 75.2% 75.4%
82.1% 81.5% 80.8% 79.2%
76.7%
79.6%
31%
63.3%
35.6% 42.8% 35.4% 40.0% 38.2%
41.6% 44.0% 48.4% 47.3% 45.9%
55.3%
47.3%
Direct Sales &
Brokers
66%
38.3% 34.7% 37.2% 35.2% 37.3% 40.6% 37.6% 32.4%
2014
2015
2016
2017
2018
2019
2020
2021
34.1% 33.7%
-2.2% -2.9% 1.0% -1.7% -0.4%
2022 3Q22 3Q23 9M22 9M23
35.2% 34.0% 34.8%
Expense Ratio Loss Ratio
Finance ratio
Combined Ratio
Operating Metrics
3Q23
9M23
PROFIT & DIVIDEND PAYOUT RATIO
Number of policies written
35,841
88,393
(corporate)
28%
37% 37% 38% 34% 30% 25%
25% 30%
36% 13%
30% 23%
Change (y-o-y)
32.2%
33.4%
-15.3%
Number of policies written
CAGR 14%
21
51,305
153,801
(retail)
18
18
18
16
14
Change (y-o-y)
30.4%
25.1%
7
11
64%
17
88%
-61.4%
15.7
13.3
81%
68%
61%
55%
Number of claims reported
Change (y-o-y)
9,337
51%
20,896
6.5
2.5
144.9%
65.3%
2014 2015 2016 2017
2018 2019
2020
Profit
20211 2022 3Q22 3Q23
Dividend Payout Ratio
9M22 9M23
Georgia Capital PLC | General note: ROAE is calculated based on net income, adjusted for non-recurring items and average equity, adjusted for preferred shares. 1. Adjusted for non-recurring items.
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