Significant contribution of the insurance industry to the Cypriot economy and the challenges faced by the sector were highlighted by the President of the Association, Evangelos Anastasiades, in his speech.
Presenting the impressive results of the sector, the President of SAEK mentioned that last year the insurance sector saw an increase of 8% and stressed that the sector constitutes a key pillar of the economy contributing 4% of the country’s GDP.
Referring to the Association’s demands, Mr. Anastasiades stressed that one of the biggest issues facing the insurance industry today, both in Cyprus and in other countries, is the regulatory framework, calling on the Government to strengthen supervision.
The Minister of Finance, Makis Keravnos, described the ceremony as “important, not only because we are entering 2025, a new year, but because it also marks 100 years of the insurance industry in Cyprus”.
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