Cypriot insurers reported FY2025 aggregate GWP of EUR 1.41 billion, up by 8.29% y-o-y, according to the year-end market figures report published by the Insurance Association of Cyprus – IAC. The overall evolution of the market remained in line with that of the previous year.

The GWP from non-life insurance lines totaled EUR 661.57 million (up by 7.7% y-o-y), while the life insurance segment generated premiums of EUR 750.13 million, or 8.8% more y-o-y.

During the period, the value of gross claims incurred was EUR 642.78 million (up by 15.49% y-o-y), of which EUR 354.2 million related to life insurance, and EUR 288.58 million to non-life insurance. Whitin the non-life insurance scope, the segments with the largest claim expenses were: motor - EUR 148.35 million and accidents & health - EUR 62.63 million.

The Top 3 life insurers in the country in terms of GWP were ERB CYPRIALIFE, EUROLIFE and UNIVERSAL LIFE, accounting together for 72.84% of the life premiums. On the non-life side, the Top 3 consists of ERB ASFALISTIKI, GENERAL INS. CYPRUS and TRUST, with a total market share of 38.5%.

Both market leaders are the companies that resulted after the merger of the Cypriot insurance companies of the Eurobank Group - completed on 10 October 2025 -, with the transfer of all insurance portfolios, assets and liabilities of Hellenic Life Insurance Company Limited and Pancyprian Insurance Limited to ERB Cyprialife Limited and ERB Asfalistiki Limited respectively.

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