STATISTICS: CYPRUS insurers' Q1 GWP compressed by 1.2% y-o-y

Cypriot insurers reported aggregate GWP of EUR 250.6 million in the first three months of 2019, down by 1.2% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.

GWP from non-life insurance lines totaled EUR 136.3 million (up by 6.9% y-o-y), while the life insurance segment generated premiums of EUR 114.3 million, or 9.5% less y-o-y.

In the analyzed period, the value of gross claims incurred was EUR 129.3 million (up by 7.4% y-o-y), of which EUR 51.8 million - life insurance, EUR 29.7 million - motor, EUR 32.5 million - accidents & health, EUR 9.4 million - fire, EUR 2.7 million - liability.

In life insurance, HELLENIC ALICO (a 22.5% market share as GWP) led the field ahead of EUROLIFE (20.5%) and CNP CYPRIALIFE (20.3%). In non-life segment, the largest insurer as GWP was UNIVERSAL - 10.4% market share.


Access www.xprimm.com and download the 1Q2019 Cyprus insurance market statistics.

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