In terms of claims, the local insurance industry reported total incurred payments of about EUR 261 million - more than EUR 20 million over the previous year.
IAC report showed that non-life GWP grew by 7.5% y-o-y to EUR 268 million, the main contribution to this growth-rate being the 8.7% rise in accident & health insurance business, or EUR 6.5 million in absolute value. On the other hand, the life segment decreased by 3.6% y-o-y, totaling ~EUR 200 million.
In terms of premiums, the largest life insurer in the country was EUROLIFE (23.6% market share), while in the general insurance segment UNIVERSAL accounted for about 10.3% of non-life GWP.
Access xprimm.com and download the 1H2019 Cyprus insurance market statistics.