Cyprus

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Location map
author: OCHA/ ReliefWeb


Location:
- Eurasian island located in the Eastern Mediterranean Sea;
- Cyprus is the third largest island in the Mediterranean Sea.
- Neighbours: Greece, Turkey, Syria, Lebanon, Egypt.

Climate:
- subtropical climate Mediterranean type of climate, with very mild winters (on the coast) and warm to hot summers;
- snow is possible only in the Mountains, in the central part of island;
- rains occurs mainly in winter, summer being generally dry.

Natural Hazards:
- moderate earthquake activity;
- droughts.


Macro indicators (* 2018 estimates)
Surface:9,251km2
Population*:0.9million
Pop. density*:93.0people/km2
GDP*:20.7EUR billion
GDP/capita*:23,987.4EUR

European Union:
EU member, since 2004


Currency: Euro
Code: EUR
Since: 2008


Sources:


 


Statistics

Cyprus 1Q2019 Insurance Companies Rankings

Cyprus 1Q2019 Market Portfolio


See all statistics

Latest news




Cypriot biggest life insurer appointed new CEO

At the beginning of June, UNIVERSAL Life - the Cypriot largest life insurer announced that its Board of Directors has decided to appoint Evan GAVAS as the new CEO - Chief Executive Officer of the Company.





CYPRUS: Insurance company refuses to help car knocked down by car in Cyprus

On the night of Sunday, 30 July, an 56-year-old tourist from Chelyabinsk Elena Lvovskaya was shot down near the Flamingo Beach Hotel in Larnaca. She was operated in the Central Hospital of Nicosia and will soon be withdrawn from the state of an artificial coma. Transportation of Elena to Russia will cost 50 thousand euros. The insurance company refuses to cover these costs. The culprit of the accident - 28-year-old Cypriot - was drunk at the time of the accident. She does not render any assistance to the victim.


STATISTICS: CYPRIOT insurers' Q1 GWP up by 6.5% y-o-y

Cypriot insurers reported aggregate GWP of EUR 234.4 million in the first three months of 2017, up by 6.5% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.


STATISTICS: CYPRUS, 3Q: The GWP growth-rate was supported by both market segments

According to the quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), at the end of September 2016 the local insurance industry totaled EUR 565 million in GWP, up by 2.7% y-o-y. Per business segments, the value of life GWP was up by 3.3% y-o-y to EUR 235.7 million, while the non-life insurers generated a volume of EUR 329.4 million (approximately 58.3% of the total premiums), up by 2.4% y-o-y.





Travel insurance costs to increase in Cyprus, Malta, Spain

If you're going to Spain, Malta or Cyprus you'll now pay more for your travel insurance. This is because the cost of medical treatment in some of these sunny holiday hotspots is rocketing. That's because they are starting to rely more on private healthcare for tourists to help to ease the strain on public resources.


STATISTICS: CYPRUS, 1H2015: Market's status almost unchanged in the last 12 months

According to the figures published by the Insurance Association of Cyprus - IAC, in the period January-June 2015, the total volume of gross written premiums by the member companies remained approximately at the 1H2014 level: EUR 381.74 million, down by 0.03% y-o-y. According IAC's web-site, there are 28 insurance company members which account for about 95% of the annual GWP.