Cyprus
STATISTICS: CYPRUS, 1H2018: Local insurance industry increased in almost all LoBs
During the first half of the current year, the local insurance industry increased in almost all business classes, with total GWP being up by almost 8% to EUR 458 million, according to half-year market figures published on the IAC website - the local professional association.
11 October 2018UPDATE: New findings suggest Olympic Insurance was already bankrupt in 2015
The Cypriot Auditor General Odysseas MICHAELIDES claimed that his office had spotted Olympic's insolvency issues during a 2014 audit. Yet, the situation broke out only four years later, when the company went bankrupt leaving some 200,000 clients uninsured.
30 August 2018Olympic's 200,000 drivers in Cyprus and Bulgaria without cover
29 August 2018London Club to set up a new office in Cyprus over Brexit
British ship insurer London P&I Club will set up a new subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access, wrote Reuters.
6 August 2018Cypriot biggest life insurer appointed new CEO
At the beginning of June, UNIVERSAL Life - the Cypriot largest life insurer announced that its Board of Directors has decided to appoint Evan GAVAS as the new CEO - Chief Executive Officer of the Company.
25 June 2018STATISTICS: CYPRUS, 1Q2018: A life & pensions insurer dominates the market rankings
The insurance market of Cyprus totaled EUR 251 million in the first three months of 2018 in terms of GWP, up by 7.2% y-o-y, according to the quarterly preliminary market figures published by the Insurance Association of Cyprus - IAC.
25 June 2018STATISTICS: CYPRUS, FY2017: Non-life underwriting result increased by more than 10%
Total FY2017 GWP amounted to EUR 816.6 million, compared to EUR 765.3 million in 2016, representing a healthy 6.5% growth, according to the market figures published by the Insurance Association of Cyprus - IAC.
19 April 2018STATISTICS: CYPRUS: The insurance market exceeded EUR 600 million at the end of September
The quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), shows that at the end of September 2017 the local insurance market totaled EUR 605.6 million in premiums, up by 6.6% y-o-y.
14 December 2017STATISTICS: CYPRUS, 1H2017: Life policies generate about half of the incurred claims
In the first half of the year, the total volume of GWP by the Cypriot insurers member of IAC - the local professional association - was EUR 427 million, up by 6% y-o-y.
28 September 2017CYPRUS: Insurance company refuses to help car knocked down by car in Cyprus
On the night of Sunday, 30 July, an 56-year-old tourist from Chelyabinsk Elena Lvovskaya was shot down near the Flamingo Beach Hotel in Larnaca. She was operated in the Central Hospital of Nicosia and will soon be withdrawn from the state of an artificial coma. Transportation of Elena to Russia will cost 50 thousand euros. The insurance company refuses to cover these costs. The culprit of the accident - 28-year-old Cypriot - was drunk at the time of the accident. She does not render any assistance to the victim.
7 August 2017CYPRUS: Laiki depositors claim buyer was 'paid' to buy Ukrainian bank
The buyer of Laiki bank's subsidiary in Ukraine was "gifted" the bank along with a EUR 1.5m to top it off, former Laiki depositors (Sykala) alleged on Monday.
22 June 2017STATISTICS: CYPRIOT insurers' Q1 GWP up by 6.5% y-o-y
Cypriot insurers reported aggregate GWP of EUR 234.4 million in the first three months of 2017, up by 6.5% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.
22 June 2017STATISTICS: CYPRUS, FY2016: GWP up by 2.6% y-o-y, mostly supported by the non-life lines
Cypriot insurers posted aggregate GWP of EUR 764 million last year, up by 2.6% y-o-y, according to the FY2016 market statistics published by the Insurance Association of Cyprus - IAC.
27 April 2017STATISTICS: CYPRUS, 3Q: The GWP growth-rate was supported by both market segments
According to the quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), at the end of September 2016 the local insurance industry totaled EUR 565 million in GWP, up by 2.7% y-o-y. Per business segments, the value of life GWP was up by 3.3% y-o-y to EUR 235.7 million, while the non-life insurers generated a volume of EUR 329.4 million (approximately 58.3% of the total premiums), up by 2.4% y-o-y.
8 December 2016STATISTICS: CYPRUS, 1H: A&H, fire and motor policies generated a half of the total market
According to the figures published by the Insurance Association of Cyprus - IAC, in the first half-year, the total volume of gross written premiums by the member companies totaled EUR 400 million, up by 4.8% y-o-y. According IAC's web-site, there are 29 insurance company members which account for about 95% of the annual GWP.
13 October 2016STATISTICS: CYPRUS, 1Q2016: Life policies pushed the market up by 13.5%
At the end of March 2016, the insurance market of Cyprus totalled about EUR 218 million or 13.5% more than in the first quarter of 2015, according to a report of the Insurance Association of Cyprus.
4 August 2016STATISTICS: CYPRUS, FY2015: Subunit growth rate for the insurance market
According to data published by the Insurance Association of Cyprus - IAC, last year, the total volume of GWP by the member companies remained approximately at the FY2014 level: EUR 732 million, up by 0.68% y-o-y.
7 April 2016CYPRUS: Motor vehicles registration on the up
The total registrations of motor vehicles has increased by just over 15%
according to recent figures released by the Statistical Service of
Cyprus (Cystat).
24 February 2016Travel insurance costs to increase in Cyprus, Malta, Spain
If you're going to Spain, Malta or Cyprus you'll now pay more for your travel insurance. This
is because the cost of medical treatment in some of these sunny holiday
hotspots is rocketing. That's because they are starting to rely more on
private healthcare for tourists to help to ease the strain on public
resources.
16 February 2016STATISTICS: CYPRUS, 3Q2015: The market remained relatively at the previous year's level
According to the quarterly report on insurers' performance published by the Insurance Association of Cyprus (IAC), between January and September 2015 the local insurance industry remained approximately at the 3Q2014 level, the volume of gross premiums written by the member companies totaling EUR 550 million (up by 0.2% y-o-y).
8 December 2015
