STATISTICS: CYPRUS, 3Q2014: The value of paid claims, down 30% y-o-y due to the reduction of "surrender and redemption phenomena"
At the same time, the value of paid claims by insurers decreased 30% to EUR 339 million due the 42% reduction of life indemnities (to EUR 183 million). In absolute values, the number of surrender claims almost halved from 25 thousand to 12.7 thousand claims.
On the life insurance segment, the top three insurers remained the same as in 3Q2013, with slight changes in the companies' market shares: EUROLIFE with a 27.3% market share, CNP CYPRIALIFE with 23.4% and UNIVERSAL Life Company with a 15.1% market share. In non-life insurance, General Insurance of Cyprus (a 12.8% market share) led the field ahead of CNP Asfalistiki (11.4%), as data from the IAC shows.
Access www.xprimm.com and download the 3Q2014 Cyprus insurance market statistics.
- Market portfolio (GWP/ Claims/ Growth rates)
- Life and non-life market rankings (GWP/ Market shares/ Growth rates)