STATISTICS: Cypriot Q1 insurers' business expanded to EUR 330 million

2 July 2024 — Andrei VICTOR
STATISTICS: Cypriot Q1 insurers' business expanded to EUR 330 million

The insurance market of Cyprus totaled EUR 330 million at the end of Q1 2024, up by 7.8% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 10.8% y-o-y to EUR 143.1 million, of which EUR 71.9 million - life indemnities (+21% y-o-y), EUR 71.2 million - non-life (up by 2.1%).

GWP from non-life insurance lines totaled EUR 157.5 million (up by 5.3% y-o-y), while the life insurance segment generated premiums of EUR 172.5 million, or 10.3% more y-o-y.

The largest life insurer in the country was EUROLIFE (31.8% market share), while the non-life field was led by GENERAL INS. CYPRUS (10.7%).

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

88 views