XPRIMM: What is the significance of AM Best’s recent upgrade of Aldagi’s credit rating, and how does this enhancement influence the company’s competitive position in both domestic and international insurance markets?

Giorgi Baratashvili: We are honored that Aldagi’s international ratings have been upgraded by AM Best, a globally recognized and highly respected rating agency. The enhancement of our Financial Strength Rating to B+ and our credit rating to bbb- represents a significant milestone for Aldagi. This achievement not only reinforces our leadership position in the global insurance market but also underscores our commitment to being a reliable and trusted partner for both individual and corporate clients. These upgraded ratings reflect our long-term strategic vision, sound governance, and, importantly, the professionalism and dedication demonstrated by our entire team.

XPRIMM: What are the principal factors that contributed to the recent upgrade of the company’s credit rating?"

G.B.: According to AM Best, the recent upgrade in Aldagi’s credit rating is attributable to the company’s systematic and strategic initiatives aimed at ensuring the sustainability of its financial architecture, effective risk management, and successful underwriting outcomes.

A key determinant of the rating enhancement is Aldagi’s robust capital adequacy, as measured by AM Best’s Balanced Capital Adequacy Ratio (BCAR). The company has instituted comprehensive processes for risk identification, assessment, and mitigation, enabling timely and effective governance of operational and underwriting risks.

In summary, the convergence of these integrated components fortifies Aldagi’s financial resilience and establishes a solid foundation for sustainable, long-term growth, thereby affirming the company’s standing as a dependable and trusted partner within both the domestic and international insurance markets.

XPRIMM: How is the improved credit rating likely to affect Aldagi’s long-term strategic development and positioning?

G.B.: The recent improvement in Aldagi’s credit and financial strength ratings is a major milestone for the company’s strategic development. With this upgrade, Aldagi has entered the Investment Grade category, which highlights our credibility and reinforces our reputation as a reliable and stable partner in the global insurance and financial markets. This recognition not only strengthens our competitive position but also opens up new opportunities to build stronger partnerships and attract new investments.

For our international partners, the upgraded rating is a clear indicator that Aldagi is a well-managed, financially sound, and low-risk company. We’re proud to hold the highest credit rating among insurance providers in Georgia, and we are also committed to sustaining this positive momentum by continuing to invest in technology, customer experience and product innovation. We see this upgrade as an important recognition, but also a motivation to aim higher and keep delivering value to all our stakeholders.

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On July 9th, AM Best announced it has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of JSC Insurance Company Aldagi Group (Aldagi) (Georgia). The outlook of these Credit Ratings (ratings) has been revised to stable from positive..

Aldagi’s current rating now stands one notch above Georgia’s sovereign credit rating of 'BB', indicating a comparatively stronger assessment of the company’s creditworthiness

According to AM Best, the rating upgrade reflects Aldagi’s robust financial position, effective management of operational and underwriting risks, and sustained underwriting performance.