Page 59 - GEORptOct21

9.1.7 Property sector news
Abandoned rural homes now instant sellers in Georgia as city dwellers unsettled by coronavirus turn to remote working
Abandoned rural homes have reportedly become an instant seller in Georgia as the coronavirus (COVID-19) pandemic has lifted demand for out-of-town retreats.
Lekso Charkviani is said to be a man on a mission to revive forsaken villages. Moved by the plight of his own village, whose population has shrunk to a few families, Charkviani, according to a Thomson Reuters Foundation by phone.report, roams mountain roads in the former Soviet republic searching for deserted houses with character and a bit of land—and finds new owners for them.
“This is what I love to do when I have time,” the 45-year-old engineer, who has sold more than 70 properties in the Racha-Lechkhumi region in the last two years via his Facebook page “The Lost Eden”, was quoted as saying. Charkviani, who says he does not make any money from the sales, added: “I can’t stop—like a man who loves fishing and hunting.”
The reality of the coronavirus has boosted interest in rural and suburban living around the globe. People pursue larger homes suitable for remote working in cheaper, less crowded locations. There, they feel less at risk of infection. Charkviani finds a suitable property, tracks down the owners and, if they are willing to sell, posts their contact details online along with a video of the property, the news agency report added, citing him as also saying: “After the pandemic, many people from the city realised they need a village house as shelter, a place where you are always welcome to escape to in case of necessity.
“Before I used to get 150 to 200 messages a day; now I get about 500.” Charkviani said the houses he has discovered have sold for 2,000 Georgian lari ($654) to $17,000.
9.1.8 Healthcare sector news
Georgian insurance market grows by 19% in H1
The Georgian insurance market ended H1 with an expansion of 19% y/y, while gross written premiums (GWPs) reached GEL 448.64mn (€119.29mn), according to data published by the Georgian Insurance Supervision Service.
Life and non-life insurance had almost the same growth rates, also at 19%, while the market remained non-life oriented - non-life insurance occupies over 93% of the portfolio.
Of the largest market segments, the most impressive growth was recorded by Motor Hull, with GWP increased to GEL 74.49mn, while property insurance also grew by more than 25%, as well as accident insurance and health insurance.
Insurers' paid claims expanded by almost 26% to GEL 194.19mn. In terms of segments, the largest amount of paid claims fell on health insurance - almost GEL 105mn.
Out of 18 companies operating in the Georgian insurance market, GPI Holding continued to lead (GEL 86.11mn of GWP), Aldagi ranked second, while Imedi L and TBC Insurance swapped places, with Imedi L falling to fourth and TBC Insurance moving up to third.
59 GEORGIA Country Report October 2021 www.intellinews.com