GBGI Limited GBGI partners with new Georgian insurance company

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GBGI Limited

19 April 2017

19 April 2017

GBGI Limited

("GBGI" or the "Group")

GBGI announces partnership with newly-launched Georgian insurance company

GBGI Limited, trading as Global Benefits Group ("GBG"), a leading integrated provider of international benefits insurance, today announces that it has entered into a strategic partnership with a new Georgia-based insurance company.

JSC Risk Management and Insurance Company, known as Global Benefits Georgia, entered the Georgian insurance market on March 29(th) 2017, with the objective of penetrating local and regional corporate insurance sectors both in Georgia and across Central and Eastern Europe.

The partnership will see Global Benefits Georgia offer the full suite of international insurance products currently available through GBG to the local and regional markets. Additionally, it has developed a full non-life insurance and risk management portfolio and is the only company in the Georgian market that has a reinsurance service.

GBGI is a minority shareholder in the newly formed Global Benefits Georgia with the partnership led by Mr. Alfred Strobel, Deputy Regional Vice President of GBGI and Ms. Nina Kobakhidze, General Director of Global Benefits Georgia.

Bob Dubrish, CEO of GBGI, said: "We are tremendously excited about this new partnership, Global Benefits Georgia, and its potential for growth in Georgia and across Central and Eastern Europe. This agreement is a great example of our highly scalable, flexible distribution capabilities which currently services clients in over 120 jurisdictions worldwide."

Commenting, Mr Strobel said: "The opportunity to expand our business not only in Georgia, but also to use Global Benefits Georgia as a hub for the region, is extremely attractive. Considering the insurance segment in the region is still maturing, the potential is huge for new entrants to obtain significant market share and become an active and successful player."

Ms. Kobakhidze commented: "GBGI Limited is the one of the largest independent, fully integrated global providers of international benefits and we are excited to partner with them. Global Benefits Georgia aims to create opportunities and establish new standards in the Georgian industry and together with the GBGI team, we are committed to achieving ambitious results in the area."

The management team of Global Benefits Georgia is comprised of highly professional individuals, with multiple years of insurance and financial sector experience:

-- Nina Kobakhidze, General Director - Ms. Kobakhidze has 15 years of experience in the Georgian and international insurance market. She was the founder and shareholder of an insurance brokerage company "Gras Savoye Georgia/Willis Towers Watson Georgia". She previously worked as Director at Service Agency of the Ministry of Internal Affairs of Georgia, and later, the Deputy Head of the Government Administration.

-- Kakhaber Amaghlobeli, Financial Director - Mr. Amaghlobeli has over 15 years of experience in the financial management industry, including as Chief Financial Officer at Georgian Industrial Group.

-- Niko Rizhamadze, Executive Director - Mr. Rizhamadze has 15 years of experience in the insurance market, including as the Chief Specialist at the State Insurance Supervision Service of Georgia.

To view a video of the Global Benefits Georgia launch event, covered by Georgian media, click here.

-ENDS-

About GBGI Limited

GBGI is a leading integrated provider of international benefits insurance, operating globally across over 120 jurisdictions. Trading principally as "Global Benefits Group" or "GBG", the Group distributes and underwrites health, life and disability, and travel insurance, with a client base that spans multinational corporations, expatriates, local HNWIs, international schools, non-profit organisations and international students. GBGI is a fully integrated insurance group providing services from policy sales to claims administration and servicing and is committed to delivering high levels of customer service. GBGI is incorporated in Guernsey.

On the web: www.gbg.com

For additional information

 
 Mr. Alfred Strobel              Ms. Miranda Milke 
 Global Benefits Group           Global Benefits Group 
 Deputy Regional Vice            Marketing & Communications 
  President, CEE                  Manager 
 [e-mail]          [e-mail] 
 [phone]                [phone] 
 
   Instinctif Partners 
   (Financial PR) 
   Giles Stewart or Lewis 
   Hill 
   [e-mail] 
   [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 19, 2017 03:55 ET (07:55 GMT)