The FINANCIAL — According to the decision of the Shareholder Meeting of GPI Holdings, one of the leading insurance groups in Georgia, 10 hospitals will be built or renovated in 12 regions across the country.
Modern style in-patient and out-patient clinics will offer high quality medical service to insured as well as non-insured patients.
The project was initiated as a follow up to recent changes in the state medical insurance programme. GPI Holding won the tender of the mentioned programme in 12 regions of Georgia – the company will run insurance to 120,000 socially vulnerable people for the next three years and at the same time develop hospital infrastructure.
“We are glad to announce our full commitment to the hospital development project in Georgia. Although the main goal of this project may not be the generation of large profit in the nearest future the ultimate result will definitely bring positive changes to our business and to the quality of life to many people in the regions of the country,” Ofer Yehudai, Head of GPI Holding’s Supervisory Board, Vienna Insurance Group Representative, commented.
GPI Holdings Shareholder Meeting was held last week in Batumi. The meeting was attended by the supervisory Board members from Georgia, Austria, Israel and the Czech Republic. The General Director presented his report and recent activity was evaluated by the attendees. Out of several issues the major decision was made concerning the hospital development project.
“Vienna Insurance Group is the leading insurance company in central and eastern Europe, represented in 23 countries through 50 companies. Development of our business in Georgia is viewed more as a long term perspective,” said Ofer Yehudai, Head of Supervisory Board.
“We’ve been active in the Georgian market for almost 10 years and our assessment of local market progress as well as our companies’ growth is more than positive. We of course highly appreciate the country’s potential at large, prospects of economic growth and business climate. At the same time we do believe that progress cannot be viewed in isolation – we as a company can also stimulate positive changes for not only our clients, employees or shareholders, but for the whole country.”
“We decided to hold a shareholder’s meeting in this beautiful city of Batumi on purpose – we wanted to see for ourselves how rapidly this region and the country is developing, how things are being changed and new perspectives are born day to day,” Vladimir Mraz, Member of GPI Holding’s Supervisory Board, Vienna Insurance Group Representative, commented.
“Just 4 years ago only 60 people was working in GPI Holding, while today we employ more than 300 persons and our activity has expanded throughout the whole country. Development of the regional network was one of the most challenging tasks for our company, but it proved to be successful. Today’s decision bring new opportunities and challenges and of course will have its positive impact on the development of the country’s medical sector as a whole,” Vladimir Mraz said.
GPI Holding was established in 2001 as a first private pension fund in Georgia. Development of social insurance lines is one of the highest priorities for the company. GPI Holding maintains the leader’s position in this direction, namely health and pension insurances. At the same time GPI Holding is among the leading companies in other lines of insurance: auto, property, etc. GPI Holding is a member of Vienna Insurance Group – one of Europe’s leading insurance companies.
About Vienna Insurance Group: Vienna Insurance Group was established in 1824. In the early ‘90s the company started to expand its activity through central and eastern Europe. Today the company holds assets in 50 companies in 23 countries. Vienna Insurance Group is one of the largest insurers in Europe with the S&P rating: A+.