Cypriot insurers posted H1 2023 aggregate GWP of EUR 585.9 million, up by EUR 57 million (or by 11.8% y-o-y), according to the half-year market figures report published by the Insurance Association of Cyprus - IAC. Non-life insurance segment totaled EUR 292.5 million (up by 9.8% y-o-y), while the life insurance segment generated premiums of EUR 293.3 million, or 11.8% more y-o-y.

The value of gross claims incurred was EUR 248 million (up by 8.4% y-o-y), of which EUR 118 million related to life insurance, EUR 68.8 million - motor, EUR 36.1 million - accidents & health, EUR 15.6 million - fire.

The largest life insurer in the country was EUROLIFE (a 29.1%% market share as GWP), while in non-life insurance, GENERAL INS. CYPRUS le the field with – 12.1% market share (GWP worth EUR 35.5 million).

Access XPRIMM Database and download the H1 2023 Cyprus insurance market statistics.