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.

Including the death claims, maturities, surrenders and other insured events related to the life insurance segment, the total value of incurred claims was approximately EUR 328.3 million, of which EUR 154.4 million for life policies. On the non-life segment, most of the gross paid claims were related to motor insurance - about EUR 82.9 million.

Access www.xprimm.com and download the 3Q2016 Cyprus insurance market statistics.
  • Market portfolio (GWP/ Claims/ Growth rates)
  • Life and non-life rankings (GWP/ Market shares/ Growth rates)

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

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