Market Research Logo

Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2020

Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Cypriot non-life insurance segment, and a comparison of the Cypriot insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Cypriot insurance industry, 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 'Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Cypriot non-life insurance segment, including:

  • The segment’s detailed outlook by product category
  • A comprehensive overview of the Cypriot economy and demographics
  • A comparison of the Cypriot insurance industry with its regional counterparts
  • The various distribution channels in the segment
  • Detailed analysis of natural hazards and their impact on the Cypriot insurance industry
  • 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 non-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 profiles the top non-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 non-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 April 2017, the European Commission (EC) approved a EUR7.3 million (US$8.1 million) fund for a natural disaster that occurred in the country during 2015–2016.
  • 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.
  • The European Insurance and Occupational Pensions Authority issued guidelines on the application of outwards reinsurance arrangements to the non-life catastrophe risk sub-module, effective from April 1, 2015. These guidelines are part of the Pillar One requirements of the Solvency II framework.


  • Key Facts and Highlights
    • Table Cypriot Non-Life Insurance - Key Facts, 2015
    • Table Cypriot Non-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 and penetration
        • Table Cypriot Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Non-Life Insurance - Gross Written Premium (EUR Million and US$ Million), 2015-2020
      • Policies sold
        • Table Cypriot Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Cypriot Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Profitability
        • Table Cypriot Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Cypriot Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Cypriot Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2011-2015
        • Table Cypriot Non-Life Insurance - Total Assets (EUR Million and US$ Million), 2015-2020
  • Outlook by Category
    • Property Insurance
      • Product overview
      • Premium
        • Table Cypriot Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2011-2015
        • Table Cypriot Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2015-2020
      • Policies sold
        • Table Cypriot Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Cypriot Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Profitability
        • Table Cypriot Property Insurance - Loss Ratio (%), 2011-2015
        • Table Cypriot Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
        • Table Cyprus - Total number of registered vehicle by category, during 2015-2016
      • Premium
        • Table Cypriot Motor Insurance - Gross Written Premium (EUR Million), 2011-2015
        • Table Cypriot Motor Insurance - Gross Written Premium (EUR Million), 2015-2020
      • Policies sold
        • Table Cypriot Motor Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Cypriot Motor Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Profitability
        • Table Cypriot Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Cypriot Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Cypriot Liability Insurance - Gross Written Premium (EUR Million), 2011-2015
        • Table Cypriot Liability Insurance - Gross Written Premium (EUR Million), 2015-2020
      • Policies sold
        • Table Cypriot Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Cypriot Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Profitability
        • Table Cypriot Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Cypriot Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
      • Premium
        • Table Cypriot Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2011-2015
        • Table Cypriot Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Million), 2015-2020
      • Policies sold
        • Table Cypriot Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Cypriot Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Profitability
        • Table Cypriot Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Cypriot Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Table Cypriot Average Annual Loss by Hazard, 1990-2014
    • Extreme Temperature
    • Drought
    • Storms
    • Coastal Floods
    • Earthquakes
    • Wildfires
    • Exposure
  • Competitive Landscape
    • Table Cypriot Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • CNP Asfalistiki Insurance - company overview
        • Table CNP Asfalistiki Insurance - Key Facts
      • General Insurance of Cyprus - company overview
        • Table General Insurance of Cyprus - Key Facts
      • Pancyprian Insurance - company overview
        • Table Pancyprian Insurance - Key Facts
      • Trust International Insurance - company overview
        • Table Trust International Insurance - Key Facts
        • Table Trust International Insurance - Key Financials (EUR Million), 2011-2013
      • AIG Insurance - company overview
        • Table AIG Insurance - Key Facts
  • 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Cypriot Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Cypriot Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Cypriot Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Cypriot Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Cypriot Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Cypriot Non-Life Insurance - Property Insurance, 2011-2015
      • Table Cypriot Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Cypriot Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Cypriot Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Cypriot Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Cypriot Non-Life Insurance - Motor Insurance, 2015-2020
    • Liability Insurance
      • Table Cypriot Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Cypriot Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Cypriot Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Cypriot Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report