STATISTICS: Cypriot insurers' business increased to EUR 274 million at the end of March

30 June 2022 —
STATISTICS: Cypriot insurers' business increased to EUR 274 million at the end of March
The insurance market of Cyprus totaled EUR 273.6 million at the end of Q1 2022, up by 12.8% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 10.9% y-o-y to EUR 115.1 million, of which EUR 58.8 million - life indemnities (+14.3% y-o-y), EUR 56.3 million - non-life (up by 7.5%).

GWP from non-life insurance lines totaled EUR 134.5 million (up by 2.1% y-o-y), while the life insurance segment generated premiums of EUR 139.1 million, or 25.5% more y-o-y.

The largest life insurer in the country was EUROLIFE (28.0% market share), while the non-life field was led by CNP ASFALISTIKI (11%).

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

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