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

  • September 2016
  • -
  • Timetric
  • -
  • 116 pages

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Synopsis
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.

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