Cyprus
STATISTICS: Cyprus insurance market ended 2020 with increasing GWP
Last year, the insurance industry of Cyprus totaled EUR 917 million, up by almost 3% y-o-y, according to end-year preliminary market figures published on the IAC website - the local professional association.
Non-life GWP reported subunit decrease (-0.7% y-o-y) to EUR 507 million, while the life segment accelerated by 7.5%% y-o-y, totaling ~EUR 410 million.
In terms of profitability, the life insurance market reported a gross underwriting profit of EUR 27.43 million vs. EUR 42.82 million in 2019, while the net underwriting profit was EUR 21.66 million. The underwriting result in non-life insurance increased to EUR 44.65 million vs. EUR 24.42 million in 2019.
Non-life GWP reported subunit decrease (-0.7% y-o-y) to EUR 507 million, while the life segment accelerated by 7.5%% y-o-y, totaling ~EUR 410 million.
In terms of profitability, the life insurance market reported a gross underwriting profit of EUR 27.43 million vs. EUR 42.82 million in 2019, while the net underwriting profit was EUR 21.66 million. The underwriting result in non-life insurance increased to EUR 44.65 million vs. EUR 24.42 million in 2019.
3 June 2021SSL Endeavour rebranded to OneGlobal Insurance Broking, in Greece & Cyprus
SSL Endeavour in Greece & Cyprus has now officially rebranded to OneGlobal Insurance Broking Ltd in full alignment with the Group's businesses globally. The group's rebranding operation started in June 2020, announcing ambitious plans for organic growth and the acquisition of like-minded broking businesses and talented individuals.
15 February 2021STATISTICS: Cyprus insurance market posted Q3 subunit growth rate
The Cyprus insurance market increased by 0.74% y-o-y at the end of 3Q2020 according to the data published by The Insurance Association of Cyprus - IAC, amounting EUR 66823 million.
14 January 2021STATISTICS: CYPRUS, 1H2020: Local insurers' GWP expanded by 1.8% y-o-y
Cypriot insurers reported aggregate GWP of EUR 457 million in the first six months of 2020, up by 1.8% y-o-y, according to the quarterly market figures report published by the Insurance Association of Cyprus - IAC.
19 November 2020Steamship Mutual sets its European business unit in Cyprus
With the UK leaving the European Union, Steamship Mutual chose to set up a new insurance company in Cyprus to service its clients all over Europe and started writing business in February 2020.
15 October 2020STATISTICS: CYPRUS, 1Q2020: Cypriot insurers reported Q1 increasing GWP and claims
The insurance market of Cyprus totaled EUR 255.63 million at the end of Q1 2020, up by 4.46% y-o-y, according to the most recent market figures published by the Insurance Association of Cyprus - IAC.
10 September 2020STATISTICS: SEE region, FY2019: Regional insurance market expanded to more than EUR 15 billion at the end of the year
At the end of 2019 the SEE insurance market (the region formed by Cyprus, Greece and Turkey) totaled about EUR 15.3 billion in terms of GWP, 12.5% more y-o-y, according to preliminary figures centralized by XPRIMM.
21 May 2020STATISTICS: CYPRUS, FY2019: The market accelerated almost 4% y-o-y
Last year, the insurance industry of Cyprus totaled EUR 892 million, up by almost 4% y-o-y, according to end-year preliminary market figures published on the IAC website - the local professional association.
16 April 2020STATISTICS: SEE, 3Q2019: regional market expanded more than a quarter in Q3 2019 to EUR 11.5 billion
At the end of 3Q2019, the SEE insurance market (inclusing Cyprus, Greece and Turkey) totaled about EUR 11.5 billion in GWP, 26.44% more y-o-y, according to preliminary figures centralized by XPRIMM.
23 January 2020STATISTICS: CYPRUS, 3Q2019: Non-life insurers supported the market GWP positive rate
The Cypriote insurance market increased by 4.66% y-o-y at the end of 3Q2019 according to the data published by The Insurance Association of Cyprus - IAC, amounting to a figure over EUR 678.55 million in GWP.
12 December 2019STATISTICS: CYPRUS, 1H2019: Half-year premiums production maintained on ascending path by non-life LOBs
During January-June 2019, the Cypriot insurance industry increased by 2.5% y-o-y to EUR 468 million, according to half-year market figures published on the IAC website - the local professional association.
5 December 2019STATISTICS: CYPRUS insurers' Q1 GWP compressed by 1.2% y-o-y
Cypriot insurers reported aggregate GWP of EUR 250.6 million in the first three months of 2019, down by 1.2% y-o-y, according to the quarterly market figures published by the Insurance Association of Cyprus - IAC.
13 June 2019French takeover of CNP Cyprus will invigorate insurance sector
9 June 2019Cypriot economy grows by 3.2% in Q1 2019
9 June 2019CYPRUS: BoC offloads unwanted CNP insurance for EUR 97.5 mln
9 June 2019Cyprus: CNP Assurance acquires Bank of Cyprus stake in insurance units
CNP Cyprus Insurance Holdings announced that its majority shareholder - the France's insurer CNP Assurances which owns 50.1% of its share capital, came to an agreement with Bank of Cyprus to acquire the remaining 49.9% stake in CNP Cyprus Insurance Holdings.
5 June 2019Bomb explosion at Nicosia insurance company
23 May 2019Legal saga over Olympic Insurance's liquidation
8 May 2019CYPRUS: Health insurance GWP increased by 12.6% in 2018
Insurance Association of Cyprus (IAC) figures show an increase of EUR 17.8 million (+12.6%) in the local market Health insurance business line; the segment reached EUR 159.2 million in 2018.
2 May 2019STATISTICS: CYPRUS, FY2018: Insurance market expanded by 7% y-o-y
The insurance market of Cyprus totaled about EUR 871.5 million at the end of 2018, up by 7% y-o-y, according to year-end market figures published by the Insurance Association of Cyprus, IAC.
4 April 2019
