Cypriot insurers reported aggregate GWP of EUR 234.4 million in the first three months of 2017, up by 6.5% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.

GWP from non-life insurance lines totaled EUR 122.4 million (up by 4.7% y-o-y), while the life insurance segment generated premiums of EUR 112 million, or 8.7% more y-o-y.

In the analyzed period, the value of gross claims incurred was EUR 122.7 million (up by 15.9% y-o-y), of which EUR 54.4 million - life insurance, EUR 26.8 million - motor, EUR 23.9 million - accidents & health, EUR 12.5 million - fire, EUR 4.9 million - liability.

In life insurance, UNIVERSAL LIFE (a 42.2% market share as GWP) led the field ahead of EUROLIFE (18.8%) and CNP CYPRIALIFE (17%).

In non-life segment, the largest insurer as GWP was CNP ASFALISTIKI - 10.3% market share.

Access www.xprimm.com and download the 1Q2017 Cyprus insurance market statistics.