STATISTICS:

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.

Per business segments, the value of life GWP was up by 0.7% y-o-y, totaling almost EUR 156 million, while the Cypriots non-life insurers generated a volume of EUR 225.84 million (~59% of total premiums), down by 0.53% y-o-y.

In case of non-life segment, in quantitative terms, the market was dominated by three major sub-classes: accidents & health (13.63% of total GWP), fire (14.42%) and motor insurance (21.63%), respectively. The three mentioned business lines generated in the analyzed period EUR 190 million in GWP, representing about a half of the total insurance industry or 84% of the non-life field.

As in the case of insurers' business, the value of incurred claims remained at a stable level: EUR 231.19 million, down by only 0.02% y-o-y. In case of life segment, the indicator decreased by 5.14% y-o-y to EUR 122.59 million "helped" by lower values in case of surrender claims (-10%) and death indemnities (-17%).

Access www.xprimm.com and download the 1H2015 Cyprus insurance market statistics.
  • Market portfolio (GWP/ Claims/ Growth rates)
  • Life and non-life market rankings (GWP/ Market shares/ Growth rates)

More about the Cypriot insurance market evolution in 1H2015 will be available in the forthcoming issue of XPRIMM Insurance Report 1H2015, to be released on October, 18th, on the occasion of the Baden-Baden XPRIMM Reception (Kurhaus Casino, Runder Saal, 18:30 - 20:30 hours).

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

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.

2018-06-25

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.

2017-06-22

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.

2016-12-08

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.

20.09.2018

photodune-3834701-laughing-girl-xs

LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

13.09.2018

Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

10.09.2018

See all