About Civil.ge
Eng | Geo | Rus
Last updated: 21:31 - 20 Apr.'15
 
RSS
Mobile
Twitter
Facebook
Bank of Georgia Buys into Aldagi Insurance Company
Civil Georgia, Tbilisi / 22 Dec.'06 / 12:50

Bank of Georgia (BOG) said on December 21 that its wholly-owned insurance subsidiary BCI has purchased 100% equity interest in Aldagi insurance company for USD 7.6 million.

After the acquisition of Georgia’s leading insurance company, BCI’s share in Georgia's insurance market is expected to exceed 40%. Aldagi’s merger into BCI is expected to be over by June, 2007.

Lado Gurgenidze, chief of BOG’s supervisory board, said that as a result of the deal BCI has turned into a leader on the Georgian insurance market, which is “poised for rapid growth over the next few years.”

Bank of Georgia is the largest bank in the country by total assets, gross loans and total equity in the country with 98 branches and over 380 thousand clients. The bank had its initial public offering at the London Stock Exchange in late November.

Latest News
20 Apr.'15 21:31
Georgian, EU Foreign Ministers Meet in Luxembourg
EU foreign policy chief, neighbourhood commissioner also participated in the Friends of Georgia meeting.
20 Apr.'15 11:56
Belarus President to Visit Georgia
Lukashenko will meet Georgian leadership in Tbilisi and will also visit Batumi on April 23-24.
20 Apr.'15 11:31
Georgian Fighting for Ukraine Killed at Shyrokyne
This is the fourth reported fatality among Georgians fighting in Ukraine.
19 Apr.'15 01:56
Georgian Parliament Speaker to Visit Ukraine
Parliamentary delegation will visit Kiev on April 19-21.
18 Apr.'15 14:40
Bill Criminalizing ‘Calls for Violent Actions’ Worries Rights Groups
Although revised, the bill still poses threat to freedom of expression, rights groups say.
17 Apr.'15 17:09
Bill Against Involvement with Illegal Armed Groups Abroad Discussed
The bill was expected to be voted on Friday, but was delayed because of thwarted session.
17 Apr.'15 16:43
UNM’s Protest over Detention of Ex-SWAT Commander Thwarts Parliament Session
Parliament failed to open session as UNM MPs refused to undergo registration.
16 Apr.'15 16:52
Remittances Down by 22.8% in Q1’15
Money transfers from Russia were down by 43.6% y/y in the first quarter.
16 Apr.'15 11:16
Georgian President Visits Latvia
Margvelashvili will meet his Latvian counterpart, as well as PM and parliament speaker.
15 Apr.'15 14:37
Tbilisi, Moscow Agree on Expanding Direct Regular Flights
Agreement reached as a result of series of meetings between Georgian and Russian aviation authorities.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
59