About Civil.ge
Eng | Geo | Rus
Last updated: 16:16 - 20 Jan.'18
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 Jan.'18 16:16
HRW Report on Georgia
The rights group says that constitutional reform approved without “broader political consensus.”
19 Jan.'18 16:16
Georgian Parliamentary Chairman Visits Ukraine
Irakli Kobakhidze met with his Ukrainian counterpart and Prime Minister.
18 Jan.'18 16:14
Media Organizations Urge Parliament to Uphold Presidential Objections to Broadcasting Law
51 media organizations seek meeting with the Parliamentary Chairman and the majority group.
18 Jan.'18 14:22
Political Ratings in NDI-Commissioned Poll
GD enjoys strongest public support in the poll carried out after the October municipal elections.
17 Jan.'18 18:56
Three Pankisi Gorge Residents Questioned
Georgian State Security Service questioned three individuals for alleged ties with terrorism suspects.
17 Jan.'18 16:16
NATO Military Committee Holds Session on Georgia
Georgia’s progress on its defense reform and Substantial NATO-Georgia Package were discussed.
17 Jan.'18 12:41
Georgian, Latvian Parliaments Sign Strategic Partnership Memorandum
Georgian Parliament Speaker held talks with his Latvian counterpart, Foreign and Economy Ministers.
16 Jan.'18 17:53
CSOs Urge Parliament to Uphold Presidential Objections to Broadcasting Law
A group of thirty-six civil society organizations released a statement on the controversial GPB-related bill.
16 Jan.'18 16:28
The Weekly Tripwire - Issue 22
Civil.ge’s news digest covering developments in Abkhazia and Tskhinvali Region/South Ossetia.
16 Jan.'18 12:59
NDI-Commissioned Public Opinion Survey
Support for EU membership 72%, for NATO membership 64%.

About Civil Georgia
Civil.Ge © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
75