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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Cyprus non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Cyprus' insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Cyprus non-life (P&C) market as well as trends by line of business. Axco analysts also report on Cyprus' economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Cyprus' insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Cyprus, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Cyprus, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Cyprus with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
he insurance market in Cyprus is well developed and penetration in the non-life sector is good. In 2018 Cyprus ranked 108th in the world by GDP, but the non-life market was ranked 85th. Awareness of the benefits of insurance is generally high and a wide range of covers is available from some sophisticated insurers.
Olympic Insurance Company was put into liquidation in August 2018 and, after some legal disputes with the shareholders ....
This is a brief extract of information; more updated information may be available in the latest published report