At the end of March 2013, the insurance market of Cyprus totaled EUR 211.8 million or 6.7% less than in the first quarter of 2012, according to the report of the Insurance Association of Cyprus on insurers' performance.

On the main insurance classes, the largest decrease in GWP was recorded in life insurance, from EUR 100 million to EUR 90 million (or 10% less y-o-y), while the non-life segment decreased by 2.7% y-o-y to EUR 121.8 million.

In the life insurance segment, the top three businesses remained the same as in 1Q2012, with slight changes in the companies' market shares: EUROLIFE with a 26% market share, LAIKI CYPRIALIFE with 24% and UNIVERSAL Life Company with a 13.5% market share.

In non-life insurance, LAIKI Insurance (a 13.1% market share) led the field ahead of GENERAL INSURANCE of Cyprus (10.6%), as data from the Insurance Association of Cyprus shows.

On the life insurance market, eight of eleven insurers recorded a decrease in GWP, while on non-life, 18 of the 28 active companies reported negative dynamics.

Access www.xprimm.com and download the 1Q2013 Cyprus insurance market statistics.

• Market portfolio (GWP/Growth rates)
• Life and non-life market rankings (GWP/Market shares/Growth rates)