Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020

All the vital news, analysis, and commentary curated by our industry experts.

$1450

Buy Report Download FREE Resources

Published: August 04, 2017 Report Code: GD-IS1541MR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s 'Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020' report provides a detailed analysis of the trends, drivers, challenges in the Cypriot personal accident and health insurance segment.

It provides 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, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’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.

Scope

This report provides a comprehensive analysis of the personal accident and health 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 personal accident and health insurance companies in Cypriot and outlines the key regulations affecting them.

Key Highlights

• On June 16, 2017, the House Plenum approved the establishment of the National Health Scheme (NHS), a single payer health financing system that will unify both public and private healthcare facilities for availing health related services.

• 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.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Cypriot personal accident and health 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.

Universal Life Insurance
Metlife Insurance
Eurolife Insurance
CNP Cyprialife Insurance
Ethniki General Insurance
Altius Insurance
Atlantic Insurance
Cosmos Insurance
Trust International Insurance
General Insurance of Cyprus

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Segment Indicators

4.1.1 Gross written premium and penetration

4.1.2 Policies sold

4.1.3 Profitability

4.1.4 Assets and investments

5 Distribution Channel Outlook

6 Competitive Landscape

6.1 Company Profiles

6.1.1 Universal Life Insurance – company overview

6.1.2 Metlife Insurance – company overview

6.1.3 Eurolife Insurance – company overview

6.1.4 CNP CypriaLife Insurance – company overview

6.1.5 Ethniki General Insurance – company overview

7 Governance, Risk and Compliance

7.1 Legislation Overview and Historical Evolution

7.2 Latest Changes in Regulation

7.3 Legislation and Market Practice by Type of Insurance

7.3.1 Life insurance

7.3.2 Property insurance

7.3.3 Motor insurance

7.3.4 Liability insurance

7.3.5 Marine, aviation and transit insurance

7.3.6 Personal accident and health insurance

7.4 Compulsory Insurance

7.4.1 Social security

7.4.2 Motor third-party liability insurance

7.4.3 Air carriers and aircraft operators insurance

7.4.4 Professional indemnity insurance for alternative investment fund managers

7.4.5 Professional indemnity insurance for insurance intermediaries

7.4.6 Environmental liability insurance

7.4.7 Liability insurance for ships with respect to oil pollution

7.4.8 Clinical trials liability insurance

7.5 Supervision and Control

7.5.1 International Association of Insurance Supervisors

7.5.2 European Insurance and Occupational Pensions Authority

7.5.3 Insurance Companies Control Service

7.5.4 Insurance Association of Cyprus

7.6 Non-Admitted Insurance Regulations

7.6.1 Overview

7.6.2 Intermediaries

7.6.3 Market practices

7.6.4 Fines and Penalties

7.7 Company Registration and Operations

7.7.1 Type of insurance organization

7.7.2 Establishing a local company

7.7.3 Foreign ownership

7.7.4 Types of license

7.7.5 Capital requirements

7.7.6 Solvency margin

7.7.7 Reserve requirements

7.7.8 Investment regulations

7.7.9 Statutory return requirements

7.7.10 Fee structure

7.8 Taxation

7.8.1 Insurance premium or policy taxation

7.8.2 Withholding taxes on premium paid overseas

7.8.3 Corporate tax

7.8.4 VAT

7.8.5 Captives

7.9 Legal System

7.9.1 Introduction

7.9.2 Access to court

7.9.3 Alternative dispute resolution

8 Databook

8.1 Policies and Premium

8.2 Claims and Expenses

9 Definitions and Methodology

9.1 Definitions

9.2 Methodology

10 About GlobalData

10.1 Contact GlobalData

10.2 About GlobalData

10.3 GlobalData’s Services

10.4 Disclaimer

Table

Table 1: Cypriot Personal Accident and Health Insurance – Key Facts, 2015

Table 2: Cypriot Personal Accident and Health Insurance – Segment Shares (%) of the Top Insurers, 2015

Table 3: Cypriot Government Credit Ratings

Table 4: Cypriot Personal Accident and Health Insurance – Gross Written Premium (EUR Million and US$ Million), 2011–2015

Table 5: Cypriot Personal Accident and Health Insurance – Gross Written Premium (EUR Million and US$ Million), 2015–2020

Table 6: Cypriot Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 7: Cypriot Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 8: Cypriot Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2015

Table 9: Cypriot Personal Accident and Health Insurance – Profitability Ratio (%), 2015–2020

Table 10: Cypriot Personal Accident and Health Insurance – Total Assets (EUR Million and US$ Million), 2011–2015

Table 11: Cypriot Personal Accident and Health Insurance – Total Assets (EUR Million and US$ Million), 2015–2020

Table 12: Cypriot Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2015

Table 13: Universal Life Insurance – Key Facts

Table 14: Metlife Insurance – Key Facts

Table 15: Eurolife Insurance – Key Facts

Table 16: CNP Cyprialife Insurance – Key Facts

Table 17: Ethniki General Insurance – Key Facts

Table 18: Cyprus – Insurance Regulatory Framework Key Features

Table 19: Cyprus – Life Insurance Regulatory Framework

Table 20: Cyprus – Property Insurance Regulatory Framework

Table 21: Cyprus– Motor Insurance Regulatory Framework

Table 22: Cyprus – Liability Insurance Regulatory Framework

Table 23: Cyprus – Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft

Table 24: Cyprus – Corporate Tax Rates for the Financial Year 2017

Table 25: Cypriot Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015

Table 26: Cypriot Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020

Table 27: Cypriot Personal Accident and Health Insurance – Claims and Expenses, 2011–2015

Table 28: Cypriot Personal Accident and Health Insurance – Claims and Expenses, 2015–2020

Table 29: Insurance Industry Definitions

Figures

Figure 1: Cypriot Real GDP (EUR Billion), 2011–2020

Figure 2: Cypriot Consumer Price Inflation (%),2011–2020

Figure 3: Cypriot Current Account Balance as Percentage of GDP (%), 2011–2015

Figure 4: Cypriot Unemployment Rate, 2011–2020

Figure 5: Cypriot Population by Age Group, 1990–2025

Figure 6: Cypriot Personal Accident and Health Insurance – Gross Written Premium (EUR Million), 2011–2020

Figure 7: Cypriot Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 8: Cypriot Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2020

Figure 9: Cypriot Personal Accident and Health Insurance – Total Assets (EUR Million), 2011–2020

Figure 10: Cypriot Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2015

Figure 11: Cyprus – The Three Pillars of Solvency II

Figure 12: Cyprus – Insurance Supervision and Control at Various Levels

Figure 13: Cyprus – Insurance Regulatory Frameworks for Company Registration and Operation

Frequently asked questions

Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020 standard reports

Currency USD

Single User

$1,450

Can be used by individual purchaser only

Undecided about purchasing this report?

Enquire Before Buying Download FREE Resources

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Sample Report

Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

Assess the relevance of the report
Evaluate the quality of the report
Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Financial Services reports

Financial Services

New

Mexico Cards and Payments: Opportunities and Risks to 2030

Financial Services

New

Global M&A Deals in H1 2026 - Top Themes by…

Financial Services

New

NatWest Private Banking and Wealth Management: Competitor Profile, 2026

Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020 in real time.

Access a live Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020 dashboard for 12 months, with up-to-the-minute insights.
Fuel your decision making with real-time deal coverage and media activity.
Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.

Tell me more

Reports

Reports by Sector

Report Type

Personal Accident and Health Insurance in Cyprus, Key Trends and Opportunities to 2020

Scope

Key Highlights

Reasons to Buy

Table of Contents

Table

Figures

Frequently asked questions

Undecided about purchasing this report?

Get in touch to find out about multi-purchase discounts

Sample Report

Below is a sample report to understand what you are buying

Related reports