About Civil.ge
Eng | Geo | Rus
Last updated: 20:51 - 27 Nov.'15
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
27 Nov.'15 20:51
Georgian, German Defense Ministers Meet in Berlin
In Berlin Khidasheli also met Chancellor Merkel’s foreign and security policy adviser Christoph Heusgen.
27 Nov.'15 17:48
Parliament Confirms New Chief Prosecutor
Irakli Shotadze, 32, became new chief prosecutor for a six-year term.
27 Nov.'15 15:41
EUR 100m EU Assistance Package for Georgia
New assistance package aims at supporting reforms related to the EU-Georgia Association Agreement.
26 Nov.'15 23:49
Informal Eastern Partnership Ministerial Meeting Held in Tbilisi
Ministers and senior officials from the foreign and healthcare ministries of EaP countries met in Tbilisi.
26 Nov.'15 23:13
Italy Ratifies EU-Georgia Association Agreement
Italy became the 27th EU-member state to ratify the treaty with Georgia.
26 Nov.'15 17:55
European Parliament Debates on Georgia
About two dozen MEPs spoke during hour-long debates in Strasbourg on November 25.
26 Nov.'15 14:50
Georgia’s Interior Minister Meets Azerbaijani President in Baku
Mgebrishvili met Aliyev in Baku on November 26.
25 Nov.'15 19:15
Sokhumi Condemns Turkey’s Downing of Russian Warplane
Both the Abkhaz leader and opposition bloc in the breakaway region released statements on the issue.
25 Nov.'15 17:53
Parliament Endorses Credentials of Two New MPs
New members joined the Parliament after winning October 31 MP by-elections in Sagarejo and Martvili.
25 Nov.'15 12:17
Tobacco, Alcohol Excise Tax Increase Planned
Government expects additional of GEL 90 million in tax revenues as a result of excise tax increase.

About Civil Georgia
Civil.Ge © 2001-2015, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.