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

30 June 2022 — Andrei Victor
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 and download the latest Cyprus insurance market statistics.

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