Business
Credit rating upgrade of P&C insurance business
Credit rating upgrade of P&C insurance business.
About this update from Georgia Capital Plc
[{"type":"text","content":"\n\nLondon, 10 July 2025\n \n\n\n \nAM Best upgrades credit rating of Georgia Capital's P&C insurance business\n \nGeorgia Capital PLC (the \"Company\" or \"GCAP\") announces today that AM Best, a leading international credit rating agency, has upgraded the credit rating of Aldagi, the holding company of GCAP's P&C insurance business, to the investment grade level of \"bbb- (Stable)\" from \"bb+ (Positive)\", marking the first time a Georgian insurance company has been assigned an international investment-grade credit rating.\n \nThe rating upgrade reflects AM Best's view that Aldagi is well positioned to maintain resilient balance sheet strength and sustain its strongest level of risk-adjusted capitalisation, underpinned by prudent capital and underwriting management. The detailed rating announcement is available on AM Best's website.\n \nIrakli Gilauri, Georgia Capital's Chairman and CEO commented: \"We are proud of Aldagi's milestone achievement, which highlights the quality of the business. Achieving investment-grade status is a significant step for both Aldagi and the broader Georgian insurance sector.\"\n \n \n \n \nName of authorised official of issuer responsible for making notification: Shalva Bukia, Head of Investor Relations and Funding\nAbout Georgia Capital PLC\nGeorgia Capital (LEI: 213800Q65T5GNBOW7H65) is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Company's focus is typically on larger-scale investment opportunities in Georgia, which have the potential to reach at least GEL 300 million equity value over 3-5 years from the initial investment and to monetise them through exits, as investments mature. Georgia Capital currently has the following portfolio businesses: (i) a retail (pharmacy) business, (ii) an insurance business (P&C and medical insurance), and (iii) a healthcare services business. Georgia Capital also holds other small private businesses across different industries in Georgia; a 20% equity stake in the water utility business and a 19.3% equity stake (as at 31-Mar-25) in LSE listed Lion Finance Group PLC (\"Lion Finance Group\" or the \"Bank\"), formerly known as \"Bank of Georgia Group...