First International Ranking in Production
The international rating company AM Best, specializing in the insurance industry, has given Aldagi a global rating. This achievement makes Aldagi the first insurance company in Georgia to hold an international rating alongside Allianz, Hannover Re, Axis, Swiss Re, and Scor.
AM Best has assigned Aldagi a credit rating of bb+. The AM Best team assessed the company's credit history, operational performance, liability repayment history, solvency, and financial soundness.
According to AM Best's independent assessment, Aldagi has achieved the highest level of risk-adjusted capitalization as measured by AM Best's capital adequacy model. Additionally, Aldagi's liquid investment portfolio and reinsurance panel, consisting of financially strong international reinsurers, were significant factors in the evaluation. The company's long history of successful underwriting policies also played an important role.
"Aldagi is a recognized player with a leading share in Georgia's insurance industry. The company is known for its strong brand and solid competitive advantage due to its wide variety of insurance products and extensive distribution network. The strongest level of risk-adjusted capitalization characterizes Aldagi's balance sheet. The company's management of capital, assets, and liabilities and the adequacy of its reserves are robust. Additionally, its investment portfolio is highly liquid, and the investment strategy effectively minimizes risks associated with exchange rate fluctuations," stated AM Best's official report.
"Receiving the international ranking is a very significant milestone. Which is the first global ranking Aldagi has achieved, marking a major accomplishment for the industry. Being rated by an authoritative company like AM Best places us on the international map and validates our 33 years of achievements and results in the insurance industry. With the AM Best rating, we can successfully continue our operations in Georgia and the region, achieve our strategic goals, and create a unique insurance experience domestically and internationally," said Giorgi Baratashvili, General Director of Aldagi.
About AM Best:
AM Best is a global credit rating company founded in 1899 and headquartered in the United States. It operates in over 100 countries and specializes in insurance activities, with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore, and Mexico City. The company assesses the creditworthiness of approximately 16,000 insurance companies worldwide.
About Aldagi:
Aldagi was founded in 1990 and is one of the first private companies in Georgia. By 2023, it is still a leader in the insurance industry with up to 150,000 insured customers.
Aldagi is recognized as the best insurance company in Georgia and the Caucasus region (Euromoney, World Finance, Global Brand Magazine). In 2020, it received the Global Compact Georgia Social Responsibility Award for Innovation. In 2022, Aldagi established a reinsurance division, creating the first precedent in Georgia for an insurance company to operate in both the insurance and reinsurance segments.
Aldagi operates in the Property and Casualty (P&C) insurance business, offering customers more than 80 retail and corporate insurance products. Aldagi is one of the most recognized brands among insurance companies in Georgia. It employs about 600 employees and remains an employee-oriented company.
