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.
Cypriot insurers reported aggregate GWP of EUR 457 million in the first six months of 2020, up by 1.8% y-o-y, according to the quarterly market figures report published by the Insurance Association of Cyprus - IAC.
At the end of 2019 the SEE insurance market (the region formed by Cyprus, Greece and Turkey) totaled about EUR 15.3 billion in terms of GWP, 12.5% more y-o-y, according to preliminary figures centralized by XPRIMM.
Last year, the insurance industry of Cyprus totaled EUR 892 million, up by almost 4% y-o-y, according to end-year preliminary market figures published on the IAC website - the local professional association.
The Cypriote insurance market increased by 4.66% y-o-y at the end of 3Q2019 according to the data published by The Insurance Association of Cyprus - IAC, amounting to a figure over EUR 678.55 million in GWP.
During January-June 2019, the Cypriot insurance industry increased by 2.5% y-o-y to EUR 468 million, according to half-year market figures published on the IAC website - the local professional association.
Cypriot insurers reported aggregate GWP of EUR 250.6 million in the first three months of 2019, down by 1.2% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.
CNP Cyprus Insurance Holdings announced that its majority shareholder - the France's insurer CNP Assurances which owns 50.1% of its share capital, came to an agreement with Bank of Cyprus to acquire the remaining 49.9% stake in CNP Cyprus Insurance Holdings.
The cabinet of Ministers approved in February, 2019 the creation of a new insurance system for farmers that seeks to offer financial support to producers of all crops, as well as for sheep and goat farmers.