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Life Insurance in Cyprus, Key Trends and Opportunities to 2020

Life Insurance in Cyprus, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Cyprus, Key Trends and Opportunities to 2020' report provides a detailed analysis of the market trends, drivers and challenges in the Cypriot life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Cypriot economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Cyprus, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Cypriot life insurance segment, including:

  • The segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the segment
  • A comprehensive overview of the Cypriot economy and demographics
  • The various distribution channels in the segment
  • Details of the competitive landscape in the segment
  • Details of regulatory policy applicable to the Cypriot insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Cyprus:
  • It provides historical values for the segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the segment, and market forecasts to 2020.
  • It analyzes the various distribution channels for life insurance products in Cyprus.
  • It profiles the top life insurance companies in Cyprus and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Cypriot life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the segment.
  • Assess the competitive dynamics in the segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Cypriot insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • In January 2017, the new EU Pensions Directive (2341/2016/EC) on the activities and supervision of institutions for occupational retirement provisions (IORP II) became effective; EU members are required to implement the stipulated changes by January 13, 2019. The changes will mainly impact the governance of class VII pension products in Cyprus.
  • Solvency II came into force in Cyprus on January 1, 2016. It is based on three pillars: risk-based quantitative requirements, governance and supervision, and disclosure and transparency.
  • On January 1, 2016, American Life Insurance Co. converted its operations into a branch of Metlife Europe Ltd in Cyprus after transferring its portfolio to the company.


  • Key Facts and Highlights
    • Table Cypriot Life Insurance - Key Facts, 2015
    • Table Cypriot Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Cypriot Government Credit Ratings
  • Segment Outlook
    • Segment Indicators
      • Gross written premium
        • Table Cypriot Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2015-2020
        • Table Cypriot Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2015-2020
      • Policies sold
        • Table Cypriot Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Cypriot Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Assets and investments
        • Table Cypriot Life Insurance - Total Assets (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Life Insurance - Total Assets (EUR Million and US$ Million), 2015-2020
        • Table Cypriot Life Insurance - Total Investment Income (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Life Insurance - Total Investment Income (EUR Million and US$ Million), 2015-2020
        • Table Cypriot Life Insurance - Investment Portfolio (EUR Million), 2011-2015
        • Table Cypriot Life Insurance - Investment Portfolio (EUR Million), 2015-2020
  • Outlook by Sub-Segment
    • Table Cypriot Life Insurance - Gross Written Premium by Sub-Segment (EUR Million), 2011-2015
    • Table Cypriot Life Insurance - Gross Written Premium by Sub-Segment (EUR Million), 2015-2020
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Cypriot Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • EuroLife Insurance - company overview
        • Table EuroLife Insurance - Key Facts
        • Table EuroLife Insurance - Key Financials (EUR Million), 2011-2015
      • CNP Cyprialife Insurance- company overview
        • Table CNP Cyprialife Insurance - Key Facts
        • Table CNP Cyprialife Insurance Company - Key Financials (EUR Million), 2011-2015
      • Universal Life Insurance - company overview
        • Table Universal Life Insurance - Key Facts
        • Table Universal Life Insurance - Key Financials (EUR Million), 2011-2015
      • Allianz Hellas Insurance Company - company overview
        • Table Allianz Hellas Insurance Company- Key Facts
      • Prime Insurance - company overview
        • Table Prime Insurance - Key Facts
        • Table Prime Insurance - Key Financials (EUR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Cyprus - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Cyprus - Life Insurance Regulatory Framework
      • Property insurance
        • Table Cyprus - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Cyprus- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Cyprus - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Social security
      • Motor third-party liability insurance
      • Air carriers and aircraft operators insurance
        • Table Cyprus - Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Professional indemnity insurance for insurance intermediaries
      • Environmental liability insurance
      • Liability insurance for ships with respect to oil pollution
      • Clinical trials liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Insurance Companies Control Service
      • Insurance Association of Cyprus
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Cyprus - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Cypriot Life Insurance - Policies and Premium, 2011-2015
      • Table Cypriot Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Cypriot Life Insurance - Claims and Expenses, 2011-2015
      • Table Cypriot Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Cypriot Life Insurance - Assets and Investments, 2011-2015
      • Table Cypriot Life Insurance - Assets and Investments, 2015-2020
    • Individual Life Insurance
      • Table Cypriot Life Insurance - Individual Life Insurance, 2011-2015
      • Table Cypriot Life Insurance - Individual Life Insurance, 2015-2020
    • Group Life Insurance
      • Table Cypriot Life Insurance - Group Life Insurance, 2011-2015
      • Table Cypriot Life Insurance - Group Life Insurance, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Cypriot Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Cypriot Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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