The quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), shows that at the end of September 2017 the local insurance market totaled EUR 605.6 million in premiums, up by 6.6% y-o-y.

Per business lines, the value of life GWP increased by 8.9% y-o-y to EUR 260.5 million, while the non-life insurers generated a volume of EUR 345.1 million (57% of total GWP), up by 5% y-o-y.

Including the death claims, maturities, surrenders and other insured events related to the life insurance segment, the total value of incurred claims was approximately EUR 354 million, of which EUR 159 million for life policies.

On the non-life segment, most of the gross paid claims were related to motor insurance - about EUR 83.4 million.

Access www.xprimm.com and download the 3Q2017 Cyprus insurance market statistics.