The insurance industry in Cyprus continued its upward trend in the first half of 2025, with total GWP amounting to EUR 696 million (+10.16% y-o-y), according to recent data from the Insurance Association of Cyprus - IAC.

This trend was demonstrated by both non-life and life insurance sectors. Life insurance, excluding Accident & Health premiums, reached EUR 363.94 million, up 12.7% y-o-y. Collections from life insurance amounted to EUR 323.46 million, while group pension plans collected EUR 40.48 million. At the same time, non-life saw a 7.5% increase to EUR 332.06 million.

Accident and Health premiums from all companies amounted to EUR 75.7 million in the first half of 2025, compared to EUR 71.32 million in 2024.

The motor industry saw an increase of 9.4%, reaching EUR 132.18 million in 1H2025, from EUR 120.8 million in the same period of 2024. Transport (MAT) recorded a growth rate of 9.8%, with premiums set at EUR 2.48 million, thus reversing the negative trend recorded one year before.

Fire insurance also saw an accelerated trend, with premiums increasing y-o-y by 8.3%, to EUR 76.9 million. Liability insurance recorded an increase of 4.8%, to GWP of EUR 40.9 million.

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