Cypriot insurers posted H1 2022 aggregate GWP of EUR 528.9 million, up by EUR 52.4 million (or by 11%), according to the half-year market figures report published by the Insurance Association of Cyprus – IAC.
Non-life insurance segment totaled EUR 266.6 million (up by 3.4%), while the life insurance segment generated premiums of EUR 262.3 million, or 19.9% more.
At the “claims chapter”, the value of gross claims incurred was EUR 228.9 million (up by 7.8%), of which EUR 111.7 million related to life insurance, EUR 62.2 million – motor, EUR 32.2 million – accidents & health, EUR 13.1 million – fire.
The largest life insurer in the country was EUROLIFE (a 27.6%% market share as GWP), while in non-life insurance, GENERAL INS. CYPRUS le the field with – 12% market share (GWP worth EUR 32.1 million).