STATISTICS: CYPRUS, 1H2019: Half-year premiums production maintained on ascending path by non-life LOBs

5 December 2019 — Andrei Victor
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.

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 and download the 1H2019 Cyprus insurance market statistics.
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