The insurance market of Cyprus totaled EUR 346.5 million at the end of Q1 2025, up by 5% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 7% y-o-y to EUR 153.27 million, of which EUR 89.8 million - life indemnities (+24.86% y-o-y), EUR 63.5 million - non-life (down by almost 11%).

GWP from non-life insurance lines totaled EUR 168.24 million (up by 6.8% y-o-y), while the life insurance segment generated premiums of EUR 178.25 million, or 3.3% more y-o-y.

The largest life insurer in the country was EUROLIFE (28.12% market share), while the non-life field was led by GENERAL INS. CYPRUS (11.4%).

Access xprimm.com and download the latest Cyprus insurance market statistics.