Non-Life Insurance in Cyprus, Key Trends and Opportunities to 2017 | Researchmoz

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

  • The Cypriot non-life insurance segment’s growth prospects by non-life insurance categories
  • Key trends and drivers for the non-life insurance segment
  • The various distribution channels in the Cypriot non-life insurance segment
  • The detailed competitive landscape in the non-life insurance segment in Cyprus
  • Detailed regulatory framework of the Cypriot insurance industry
  • A description of the non-life reinsurance segment in Cyprus
  • Porter's Five Forces analysis of the non-life insurance segment
Full Report @

Executive summary
Losses in the Cypriot banking sector due to high exposure to Greek sovereign and corporate debt impacted the country’s economic growth. Cyprus became the fifth country in Europe to receive a bailout, amounting to EUR10 billion (US$13.9 billion) in 2012, and ongoing government-adopted austerity measures constrained private and public sector consumption. The country also recorded a decline in construction activity and automobile sales, which impacted the demand for non-life insurance products. Motor insurance accounted for a 52% share of the segment’s gross written premium in 2012, followed by property insurance with 34.1%. The segment is highly concentrated with the 10 leading insurers collectively accounting for a 74.3% share in 2012. Due to the government reforms, general business improvement measures will encourage growth in the segment over the forecast period (2012−2017).
Scope This report provides a comprehensive analysis of the non-life insurance segment in Cyprus:

  • It provides historical values for Cyprus’s non-life insurance segment for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period.
  • It offers a detailed analysis of the key categiories in Cyprus’s non-life insurance segment, along with market forecasts until 2017.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for non-life insurance products in Cyprus.
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Cyprus for the non-life insurance segment.
  • It provides a detailed analysis of the reinsurance segment in Cyprus and its growth prospects.
  • It profiles the top non-life insurance companies in Cyprus and outlines the key regulations affecting them.

All Countrywise Report @

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 within the Cypriot non-life insurance segment
  • Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Cypriot insurance industry and its impact on companies and the market's future

Key highlights
  • In 2012, motor insurance accounted for 52% of the segment’s written premiums, followed by property insurance with 34.1%
  • The segment is highly concentrated, with the 10 leading insurers collectively accounting for a market share of 74.3% in 2012
  • The non-life segment is populated by companies which are either subsidiaries or affiliates of major banks
  • Agencies accounted for 60.3% of total commission paid in 2012
  • From March 1, 2013, the stamp duty charge per new non-life contract increased by EUR2
  • The Cypriot non-life segment is competitive and contains both domestic and foreign insurers

For More Information Kindly Contact: