Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2019

Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2019


  • Products Id :- IS1271MR
  • |
  • Pages: 116
  • |
  • |
  • |
  Request for Sample Report
  Request A Quote

Executive Summary

Timetric's 'Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2019' 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 period (2010-2014) and forecast period (2014-2019).

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 2019' report provides in-depth market analysis, information and insights into the Cypriot non-life insurance segment, including:

The Cypriot non-life insurance 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 Cypriot non-life insurance segment

Detailed analysis of natural hazards and their impact on the Cypriot insurance industry

Details of the competitive landscape in the non-life insurance segment in Cyprus

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 Cypriot non-life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period.

It offers a detailed analysis of the key categories in the Cypriot non-life insurance segment, and market forecasts to 2019.

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 Cypriot non-life insurance segment.

Assess the competitive dynamics in the non-life insurance 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

Motor insurance was the largest non-life category, accounting for 54.3% of the segment's gross written premium in 2014.

Insurers are looking to strengthen their positions and gain a market share by launching new products and widening product portfolios.

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.

Insurers' affiliation to banks makes bancassurance a leading distribution channel, as the largest insurers in Cyprus are subsidiaries or affiliates of banks.

The Cypriot non-life insurance segment is concentrated, with the 10 leading companies accounting for 73.3% of the gross written premium in 2015.



Read More



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications

+91-9015378249

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Profitability

4.2.5 Assets and investments

5 Outlook by Category

5.1 Property Insurance

5.1.1 Product overview

5.1.2 Premium

5.1.3 Claims

5.1.4 Profitability

5.2 Motor Insurance

5.2.1 Product overview

5.2.2 Premium

5.2.3 Claims

5.2.4 Profitability

5.3 Liability Insurance

5.3.1 Product overview

5.3.2 Premium

5.3.3 Policies

5.3.4 Claims

5.3.5 Profitability

5.4 Marine, Aviation and Transit Insurance

5.4.1 Product overview

5.4.2 Premium

5.4.3 Policies

5.4.4 Claims

5.4.5 Profitability

6 Distribution Channel Outlook

6.1 Analysis by Distribution Channel

7 Natural Hazards

7.1 Droughts

7.2 Earthquakes

7.3 Extreme Temperatures

7.4 Storms

7.5 Wildfires

7.6 Coastal Floods

7.7 Exposure

8 Competitive Landscape

8.1 Company Rankings

8.2 Comparison of the Top Five Insurers

8.2.1 Gross written premium

8.3 Company Profiles

8.3.1 CNP Asfalistiki Ltd-company overview

8.3.2 General Insurance Company of Cyprus Ltd-company overview

8.3.3 Pancyprian Insurance Ltd-company overview

8.3.4 Trust International Insurance Company (Cyprus) Ltd-company overview

8.3.5 AIG Europe Ltd-company overview

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes in Regulations

9.3 Legislation and Market Practice by Type of Insurance

9.3.1 Life insurance

9.3.2 Property insurance

9.3.3 Motor insurance

9.3.4 Liability insurance

9.3.5 Marine, aviation and transit insurance

9.3.6 Personal accident and health insurance

9.4 Compulsory Insurance

9.4.1 Social security

9.4.2 Motor third-party liability insurance

9.4.3 Air carriers and aircraft operators insurance

9.4.4 Professional indemnity insurance for alternative investment fund managers

9.4.5 Environmental liability insurance

9.5 Supervision and Control

9.5.1 International Association of Insurance Supervisors

9.5.2 European Insurance and Occupational Pensions Authority

9.5.3 Insurance Companies Control Service

9.5.4 Insurance Association of Cyprus

9.6 Non-Admitted Insurance Regulations

9.6.1 Overview

9.6.2 Intermediaries

9.6.3 Market practices

9.6.4 Fines and penalties

9.7 Company Registration and Operations

9.7.1 Types of insurance organization

9.7.2 Establishing a local company

9.7.3 Foreign ownership

9.7.4 Types of license

9.7.5 Capital requirements

9.7.6 Solvency margins

9.7.7 Reserve requirements

9.7.8 Investment regulations

9.7.9 Statutory return requirements

9.7.10 Fee structure

9.8 Taxation

9.8.1 Insurance premium or policy taxation

9.8.2 Withholding taxes on premium paid overseas

9.8.3 Corporate tax

9.8.4 VAT

9.8.5 Captives

9.9 Legal System

9.9.1 Introduction

9.9.2 Access to court

9.9.3 Alternative dispute resolution (ADR)

10 Databook

10.1 Policies and Premium

10.2 Claims and Expenses

10.3 Assets and Investments

10.4 Property Insurance

10.5 Property Insurance by Product

10.6 Motor Insurance

10.7 Liability Insurance

10.8 Marine, Aviation and Transit Insurance

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About Timetric

12.1 Contact Timetric

12.2 About Timetric

12.3 Timetric's Services

12.4 Disclaimer

Figure 1: Cypriot Real GDP (EUR Billion), 2010-2019

Figure 2: EUR-USD Exchange Rate, 2010-2019

Figure 3: Cypriot Consumer Price Inflation, 2010-2019

Figure 4: Cypriot Current Account Balance as Percentage of GDP (%), 2010-2014

Figure 5: Cypriot Unemployment Rate, 2010-2019

Figure 6: Cypriot Population by Age Group, 1991-2025

Figure 7: Cypriot Non-Life Insurance Penetration-Regional Comparison (%), 2014

Figure 8: Cypriot Insurance Segment Direct Written Premium Shares-Regional Comparison (%), 2014

Figure 9: Cypriot Non-Life Insurance-Gross Written Premium (EUR Million), 2010-2019

Figure 10: Cypriot Non-Life Insurance-Penetration (%), 2010-2019

Figure 11: Cypriot Non-Life Insurance-Premium per Capita (EUR), 2010-2019

Figure 12: Cypriot Non-Life Insurance-Number of Policies Sold (Thousand), 2010-2019

Figure 13: Cypriot Non-Life Insurance-Paid Claims (EUR Million), 2010-2019

Figure 14: Cypriot Non-Life Insurance-Profitability Ratio (%), 2010-2019

Figure 15: Cypriot Non-Life Insurance-Total Assets (EUR Million), 2010-2019

Figure 16: Cypriot Non-Life Insurance-Investment Portfolio (EUR Million), 2010-2019

Figure 17: Cypriot Non-Life Insurance-Investment Portfolio Dynamics by Category, 2010-2019

Figure 18: Cypriot Non-Life Insurance-Gross Written Premium by Category (EUR Billion and USD Million), 2010-2019

Figure 19: Cypriot Non-Life Insurance-Gross Written Premium Dynamics by Category, 2010-2019

Figure 20: Cypriot Property Insurance-Gross Written Premium by Sub-Category (EUR Million), 2010-2019

Figure 21: Cypriot Property Insurance-Gross Written Premium Dynamics by Sub-Category, 2010-2019

Figure 22: Cypriot Property Insurance-Paid Claims (EUR Million), 2010-2019

Figure 23: Cypriot Property Insurance-Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019

Figure 24: Cyprus-Total number of registered vehicles, 2010-2015

Figure 25: Cypriot Motor Insurance-Gross Written Premium (EUR Million), 2010-2019

Figure 26: Cypriot Motor Insurance-Paid Claims (EUR Million), 2010-2019

Figure 27: Cypriot Motor Insurance-Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019

Figure 28: Cypriot Liability Insurance-Gross Written Premium (EUR Million), 2010-2019

Figure 29: Cypriot Liability Insurance-Number of Policies Sold (Thousand), 2010-2019

Figure 30: Cypriot Liability Insurance-Paid Claims (EUR Million), 2010-2019

Figure 31: Cypriot Liability Insurance-Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019

Figure 32: Cypriot Goods Exports and Imports (EUR Billion), 2010-2014

Figure 33: Cypriot Marine, Aviation and Transit Insurance-Gross Written Premium (EUR Million), 2010-2019

Figure 34: Cypriot Marine, Aviation and Transit Insurance-Number of Policies Sold (Thousand), 2010-2019

Figure 35: Cypriot Marine, Aviation and Transit Insurance-Paid Claims (EUR Million), 2010-2019

Figure 36: Cypriot Marine, Aviation and Transit Insurance-Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019

Figure 37: Cypriot Frequency of Hazards by Type, 1990-2014

Figure 38: Cypriot Mortality of Hazards by Type, 1990-2014

Figure 39: Cypriot Economic issues of Hazards by Type, 1990-2014

Figure 40: Cypriot Non-Life Insurance-Segment Shares (%), 2015

Figure 41: Cypriot Non-Life Insurance-Top Insurers' Gross Written Premium Growth Relative to Segment Overall (%), 2012-2015

Figure 42: Cyprus-The Three Pillars of Solvency II

Figure 43: Cyprus-Insurance Supervision and Control at Various Levels

Figure 44: Cyprus-Insurance Regulatory Frameworks for Company Registration and Operation

Table 1: Cypriot Non-Life Insurance-Key Facts, 2014

Table 2: Cypriot Non-Life Insurance-Segment Shares of the Top Insurers, 2015

Table 3: Cypriot Government Credit Ratings

Table 4: Cypriot Non-Life Insurance-Gross Written Premium (EUR Million and USD Million), 2010-2014

Table 5: Cypriot Non-Life Insurance-Penetration (%), 2010-2014

Table 6: Cypriot Non-Life Insurance-Gross Written Premium (EUR Million and USD Million), 2014-2019

Table 7: Cypriot Non-Life Insurance-Penetration (%), 2014-2019

Table 8: Cypriot Non-Life Insurance-Premium per Capita (EUR and USD ), 2010-2014

Table 9: Cypriot Non-Life Insurance-Premium per Capita (EUR and USD ), 2014-2019

Table 10: Cypriot Non-Life Insurance-Number of Policies Sold (Thousand), 2010-2014

Table 11: Cypriot Non-Life Insurance-Number of Policies Sold (Thousand), 2014-2019

Table 12: Cypriot Non-Life Insurance-Paid Claims (EUR Million and USD Million), 2010-2014

Table 13: Cypriot Non-Life Insurance-Paid Claims (EUR Million and USD Million), 2014-2019

Table 14: Cypriot Non-Life Insurance-Profitability Ratio (%), 2010-2014

Table 15: Cypriot Non-Life Insurance-Profitability Ratio (%), 2014-2019

Table 16: Cypriot Non-Life Insurance-Total Assets (EUR Million and USD Million), 2010-2014

Table 17: Cypriot Non-Life Insurance-Total Assets (EUR Million and USD Million), 2014-2019

Table 18: Cypriot Non-Life Insurance-Investment Portfolio (EUR Million), 2010-2014

Table 19: Cypriot Non-Life Insurance-Investment Portfolio (EUR Million), 2014-2019

Table 20: Cypriot Non-Life Insurance-Gross Written Premium by Category (EUR Million), 2010-2014

Table 21: Cypriot Non-Life Insurance-Gross Written Premium by Category (EUR Million), 2014-2019

Table 22: Cypriot Property Insurance-Gross Written Premium by Sub-Category (EUR Million), 2010-2014

Table 23: Cypriot Property Insurance-Gross Written Premium by Sub-Category (EUR Million), 2014-2019

Table 24: Cypriot Property Insurance-Paid Claims (EUR Million and USD Million), 2010-2014

Table 25: Cypriot Property Insurance-Paid Claims (EUR Million and USD Million), 2014-2019

Table 26: Cypriot Property Insurance-Loss Ratio (%), 2010-2014

Table 27: Cypriot Property Insurance-Loss Ratio (%), 2014-2019

Table 28: Cypriot Motor Insurance-Gross Written Premium by (EUR Million), 2010-2014

Table 29: Cypriot Motor Insurance-Gross Written Premium (EUR Million), 2014-2019

Table 30: Cypriot Motor Insurance-Paid Claims (EUR Million and USD Million), 2010-2014

Table 31: Cypriot Motor Insurance-Paid Claims (EUR Million and USD Million), 2014-2019

Table 32: Cypriot Motor Insurance-Loss Ratio (%), 2010-2014

Table 33: Cypriot Motor Insurance-Loss Ratio (%), 2014-2019

Table 34: Cypriot Liability Insurance-Gross Written Premium (EUR Million), 2010-2014

Table 35: Cypriot Liability Insurance-Gross Written Premium (EUR Million), 2014-2019

Table 36: Cypriot Liability Insurance-Number of Policies Sold (Thousand), 2010-2014

Table 37: Cypriot Liability Insurance-Number of Policies Sold (Thousand), 2014-2019

Table 38: Cypriot Liability Insurance-Paid Claims (EUR Million and USD Million), 2010-2014

Table 39: Cypriot Liability Insurance-Paid Claims (EUR Million and USD Million), 2014-2019

Table 40: Cypriot Liability Insurance-Loss Ratio (%), 2010-2014

Table 41: Cypriot Liability Insurance-Loss Ratio (%), 2014-2019

Table 42: Cypriot Marine, Aviation and Transit Insurance-Gross Written Premium (EUR Million), 2010-2014

Table 43: Cypriot Marine, Aviation and Transit Insurance-Gross Written Premium (EUR Million), 2014-2019

Table 44: Cypriot Marine, Aviation and Transit Insurance-Number of Policies Sold (Thousand), 2010-2014

Table 45: Cypriot Marine, Aviation and Transit Insurance-Number of Policies Sold (Thousand), 2014-2019

Table 46: Cypriot Marine, Aviation and Transit Insurance-Paid Claims (EUR Million and USD Million), 2010-2014

Table 47: Cypriot Marine, Aviation and Transit Insurance-Paid Claims (EUR Million and USD Million), 2014-2019

Table 48: Cypriot Marine, Aviation and Transit Insurance-Loss Ratio (%), 2010-2014

Table 49: Cypriot Marine, Aviation and Transit Insurance-Loss Ratio (%), 2014-2019

Table 50: Cypriot Average Annual Loss by Hazard, 1990-2014

Table 51: Cypriot Non-Life Insurance-Segment Shares (%), 2015

Table 52: CNP Asfalistiki Ltd-Key Facts

Table 53: General Insurance Company of Cyprus Ltd-Key Facts

Table 54: Pancyprian Insurance Ltd-Key Facts

Table 55: Trust International Insurance Company (Cyprus) Ltd-Key Facts

Table 56: AIG Europe Ltd-Key Facts

Table 57: Cyprus-Insurance Regulatory Framework Key Features

Table 58: Cyprus-Life Insurance Regulatory Framework

Table 59: Cyprus-Property Insurance Regulatory Framework

Table 60: Cyprus-Motor Insurance Regulatory Framework

Table 61: Cyprus-Liability Insurance Regulatory Framework

Table 62: Cyprus-Minimum Coverage for Aircraft Third-Party Liability Per Accident Per Aircraft

Table 63: Cyprus-Capital Requirements for Insurers

Table 64: Cyprus-Corporate Tax Rates for the Financial Year 2015

Table 65: Cypriot Insurance Industry-Policies and Premium, 2010-2014

Table 66: Cypriot Insurance Industry-Policies and Premium, 2014-2019

Table 67: Cypriot Non-Life Insurance-Claims and Expenses, 2010-2014

Table 68: Cypriot Non-Life Insurance-Claims and Expenses, 2014-2019

Table 69: Cypriot Non-Life Insurance-Assets and Investments, 2010-2014

Table 70: Cypriot Non-Life Insurance-Assets and Investments, 2014-2019

Table 71: Cypriot Non-Life Insurance-Property Insurance, 2010-2014

Table 72: Cypriot Non-Life Insurance-Property Insurance, 2014-2019

Table 73: Cypriot Non-Life Insurance-Property Insurance by Product, 2010-2014

Table 74: Cypriot Non-Life Insurance-Property Insurance by Product, 2014-2019

Table 75: Cypriot Non-Life Insurance-Motor Insurance, 2010-2014

Table 76: Cypriot Non-Life Insurance-Motor Insurance, 2014-2019

Table 77: Cypriot Non-Life Insurance-Liability Insurance, 2010-2014

Table 78: Cypriot Non-Life Insurance-Liability Insurance, 2014-2019

Table 79: Cypriot Non-Life Insurance-Marine, Aviation and Transit Insurance, 2010-2014

Table 80: Cypriot Non-Life Insurance-Marine, Aviation and Transit Insurance, 2014-2019

Table 81: Insurance Industry Definitions

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to query [@] kenresearch.com
 

CNP Asfalistiki Ltd

General Insurance Company of Cyprus Ltd

Pancyprian Insurance Ltd

Trust International Insurance Company (Cyprus) Ltd

AIG Europe Ltd

Atlantic Insurance Public Company Ltd

Cosmos Insurance Company Public Ltd

Allianz Hellas Insurance Company SA

Prime Insurance Company Ltd

GAN Direct Insurance Ltd

Non-life insurance

Economy and demographics

Motor insurance

Property insurance

Liability insurance

Marine insurance

Aviation insurance

Transit insurance

Distribution channels

Natural Hazards

Leading companies

Legislation

Compulsory insurance

Supervision and control

Non-admitted insurance

Types of insurance organization

select a license

Single User License
USD 1450 INR 93322
Site License
USD 2900 INR 186644
Corporate User License
USD 4350 INR 279966

NEWSLETTER BY CATEGORY




Testimonials

The report sent to us was on the point, and its information was quite extensive, well structured, and well researched. More importantly what we valued was your response time and professionalism. As a leading global consulting firm, our clients expect high quality deliverables in short periods of time, so a reliable research partner is essential. For the price that you have charged the quality of your services were exceptional. We look forward to continue our relationship with your team on future engagements....

This is with regards to your report on India PVC pipes and fitting market outlook industry outlook to 2019. This is a very well written report and accept my compliments on the same.... ...

I am pleased to see the very useful and productive information in the report..Very well structured great presentation reflect professionalism in your research studies....

While we still are studying and analysing your reports about Vietnam & Thailand, we would like to convey to your research team that they have done a very good job in compiling so much of information together. We hope to see more of such well researched reports. All the best & keep it up. ...

We would like to appreciate Ken Research for their great efforts and wonderful support in providing the Market Intelligence Report for ITPC. The information, statistics and research are well understandable and very clear to the point. We are happy with Ken research for their good client service, on-time delivery of the report and as said the report itself. Thank you Ken research for bringing the valuable output for us. We would be looking forward to have more research with you in the near future. Wish you a success in your business!...



Ken Research Pvt. Ltd. Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India

download

Company Brochure

Engage with Us

query [@] kenresearch.com