STATISTICS: CYPRUS, 1H2020: Local insurers' GWP expanded by 1.8% y-o-y

19 November 2020 — Andrei Victor
Cypriot insurers reported aggregate GWP of EUR 457 million in the first six months of 2020, up by 1.8% y-o-y, according to the quarterly market figures report published by the Insurance Association of Cyprus - IAC.

During the period, the value of gross claims incurred was almost EUR 228 million (down by 10% y-o-y), of which EUR 120 million related to life insurance, EUR 47.5 million - motor, EUR 49.5 million - accidents & health.

GWP from non-life insurance lines totaled EUR 259 million (down by 0.5% y-o-y), while the life insurance segment generated premiums of EUR 198 million, or 5% more y-o-y.

In life insurance, EUROLIFE (a 27.4% market share as GWP) led the field, while the largest non-life insurer as GWP was GENERAL INS. CYPRUS - 10.2% market share.


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