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The monographic study is dedicated to identifying the main prospects for the improvement of the current state of the Georgian insurance market based on the analysis and assessment. The study findings are presented in three chapters.Chapter One - "General overview of the Georgian insurance market" - discusses the history of the Georgian insurance market and the products that are in demand in the Georgian insurance market.Chapter two - "Insurance State Supervision Service of Georgia" - examines and assesses the goals, functions, and powers of the supervisory service; The rule for calculating the amount of regulatory capital and the insurer's solvency margin; The procedure for issuing and revoking an insurance license; the Procedure for Compulsory Administration, Liquidation and Bankruptcy of the Insurer.Chapter Three - "Challenges and Prospects for the Development of the Insurance Market of Georgia" - is devoted to identifying problems in the insurance market in Georgia, defining the priorities and prospects for the development of the insurance market in Georgia, and preparing recommendations related to the relevant legislative and methodological provisions.