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Cyprus

Location: is a Eurasian island located in the Eastern Mediterranean Sea, East of Greece, south of Turkey, west of Syria, Lebanon and Israel and north of Egypt. Cyprus is the third largest island in the Mediterranean Sea and the Republic of Cyprus is a Member State of the European Union.

Climate: Cyprus has a 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. Rain occurs mainly in winter, with summer being generally dry.

Natural Hazards: Moderate earthquake activity, droughts.

Currency: EURO

Sources:Insurance Association of Cyprus
Central Bank of Cyprus
Ministry of Economics Cyprus

Insurance statistics

3Q2016Market portfolioxlsx
3Q2016Insurance companies rankingsxlsx
1H2016Market Portfolioxlsx
1H2016Insurance Companies Rankingsxlsx
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FY2015Market Portfolioxlsx
FY2015Insurance Companies Rankingsxlsx
1H2015Market Portfolioxlsx
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1Q2015Insurance companies rankingsxlsx
FY2014Market Portfolioxlsx
FY2014Insurance Companies Rankingsxlsx
3Q2014Market portfolioxlsx
3Q2014Insurance companies rankingsxlsx
1H2014Insurance market overview pdf
1H2014Market Portfolioxlsx
1H2014Insurance Companies Rankingsxlsx
1Q2014
Insurance Companies Rankingsxlsx
1Q2014Market Portfolioxlsx
FY2013Insurance market overview pdf
FY2013Market Portfolioxlsx
FY2013Insurance Companies Rankingsxlsx
3Q2013Market Portfolioxlsx
3Q2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1H2013
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1H2013Market Portfolioxlsx
1Q2013Insurance Companies Rankingsxlsx
1Q2013Market Portfolioxlsx
FY2012Insurance market overview pdf
FY2012Market Portfolioxlsx
FY2012Insurance Companies Rankingsxlsx
3Q2012Insurance Companies Rankingsxlsx
3Q2012Market Portfolioxlsx
1H2012Market Portfolioxlsx
1H2012Insurance Companies Rankingsxlsx
1Q2012Insurance market overview pdf
1Q2012Insurance companies rankingsxlsx
1Q2012Market portfolioxlsx
FY2011Insurance market overview pdf
FY2011Market portfolioxlsx
FY2011Insurance companies rankingsxlsx



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. More
(08.12.2016)

STATISTICS: CYPRUS, 1H: A&H, fire and motor policies generated a half of the total market

According to the figures published by the Insurance Association of Cyprus - IAC, in the first half-year, the total volume of gross written premiums by the member companies totaled EUR 400 million, up by 4.8% y-o-y. According IAC's web-site, there are 29 insurance company members which account for about 95% of the annual GWP. More
(13.10.2016)

STATISTICS: CYPRUS, 1Q2016: Life policies pushed the market up by 13.5%

At the end of March 2016, the insurance market of Cyprus totalled about EUR 218 million or 13.5% more than in the first quarter of 2015, according to a report of the Insurance Association of Cyprus. More
(04.08.2016)

STATISTICS: CYPRUS, FY2015: Subunit growth rate for the insurance market

According to data published by the Insurance Association of Cyprus - IAC, last year, the total volume of GWP by the member companies remained approximately at the FY2014 level: EUR 732 million, up by 0.68% y-o-y. More
(07.04.2016)

CYPRUS: Motor vehicles registration on the up

The total registrations of motor vehicles has increased by just over 15% according to recent figures released by the Statistical Service of Cyprus (Cystat). More
(24.02.2016)

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. More
(16.02.2016)

STATISTICS: CYPRUS, 3Q2015: The market remained relatively at the previous year's level

According to the quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), between January and September 2015 the local insurance industry remained approximately at the 3Q2014 level, the volume of gross premiums written by the member companies totaling EUR 550 million (up by 0.2% y-o-y). More
(08.12.2015)

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. More
(08.10.2015)

STATISTICS: CYPRIOT insurers 1Q GWP down by 2.2% y-o-y

Cypriot insurers posted aggregate gross written premiums of EUR 191.92 million in the first three months of 2015, down by 2.19% y-o-y, according to the quarterly market statistics published by the Insurance Association of Cyprus - IAC. At the same time, in the analyzed period, the local insurers paid about EUR 115 million in life and non-life claims. More
(25.06.2015)

CYPRIOT insurance companies saw their premiums follow a downward path

Cypriot insurance companies saw their premiums in both life and non-life business follow a downward path as claims remained comparatively high, official data showed. More
(26.05.2015)

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