REG - Georgia Capital PLC - Credit rating upgrade of P&C insurance business

Georgia CapitalAnnouncement

10/07/2025 12:15

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RNS Number : 5890Q  Georgia Capital PLC  10 July 2025

London, 10 July 2025

 

 

AM Best upgrades credit rating of Georgia Capital's P&C insurance business

 

Georgia 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.

 

The 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.
(https://news.ambest.com/PR/PressContent.aspx?altsrc=10&RefNum=36194&URatingId=2970370&_gl=1*vysaz4*_ga*MTg0NTkyMTU4OC4xNzQ0Nzk5MjM3*_ga_VNWYD5N5NL*czE3NTIwNDkzOTAkbzgkZzEkdDE3NTIwNjg1NzMkajEyJGwwJGgw)

 

Irakli 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."

 

 

 

 

Name of authorised official of issuer responsible for making notification:
Shalva Bukia, Head of Investor Relations and Funding

About Georgia Capital PLC

Georgia 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 PLC", the holding company of leading
universal banks in Georgia and Armenia.

 JSC Georgia Capital has, as of the date hereof, the following credit rating:

 S&P Global      'BB-'/FC & 'BB-'/LC

 For further information, please visit www.georgiacapital.ge
(http://www.georgiacapital.ge) or contact:

 

 Irakli Gilauri                  Giorgi Alpaidze                 Michael Oliver                     Shalva Bukia
 Chairman and Chief Executive    Chief Financial Officer         Adviser to the Chairman & CEO      Head of Investor Relations
 ir@gcap.ge (mailto:ir@gcap.ge)  +995 322 005 000                +44 203 178 4034                   + 995 322 005 045
                                 ir@gcap.ge (mailto:ir@gcap.ge)  ir@gcap.ge (mailto:ir@gcap.ge)     ir@gcap.ge (mailto:ir@gcap.ge)

This news report is presented for general informational purposes only and
should not be construed as an offer to sell or the solicitation of an offer to
buy any securities.

 

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