STATISTICS: Cypriot insurers posted over EUR 300 million in premiums at the end of Q1 2023

7 June 2023 —
STATISTICS: Cypriot insurers posted over EUR 300 million in premiums at the end of Q1 2023
The insurance market of Cyprus totaled EUR 306 million at the end of Q1 2023, up by 11.83% y-o-y, according to Insurance Association of Cyprus - IAC's data. Gross claims incurred increased by 12.22% y-o-y to EUR 129.16 million, of which EUR 59.40 million - life indemnities (+1% y-o-y), EUR 69.75 million - non-life (up by 23.96%).

GWP from non-life insurance lines totaled EUR 151.24 million (up by 12.42% y-o-y), while the life insurance segment generated premiums of EUR 154.77 million, or 11.26% more y-o-y.

The largest life insurer in the country was EUROLIFE (28.29% market share), while the non-life field was led by CNP ASFALISTIKI (11.14%).

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

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