Key Market Indicators
Cypriot insurance spending is projected to hit approximately €375 million by 2028, according to recent forecasts. This marks an increase from about €331 million in 2023, indicating an average annual growth rate of 2%. Since the turn of the millennium, the demand for insurance in Cyprus has seen a consistent rise. The sector has recorded an average annual growth rate of 4.4% since 2000, reflecting a steady increase in consumer and business interest in insurance products.
