The Insurance Supervision Service of Georgia was created according to the order N330 by the president of Georgia in June 29, 1997

The Service is a Legal Entity of Public Law, which was created to implement state objectives in the insurance sphere and to provide state regulation of the insurance activity. Service is independent in its activity and is accountant to the President of Georgia.

Financial means of the Service is made by 1% of insurance premiums of insurers and founders of non-state pension scheme

Main objectives of the Service are the coordination of the insurance activity, furthering to evolution of insurance in Georgia, making perfect insurance mechanisms, the regulation of the insurance market and supervision of insurance activities.