Key Market Indicators
The Cypriot life insurance market is projected to experience steady growth, with revenue expected to climb to approximately €456 million by 2028. This marks an increase from around €403 million in 2023, representing a compound annual growth rate (CAGR) of 2%. Since 2018, the Cypriot market has shown an average annual growth rate of 2.3%, reflecting consistent expansion in this sector. In the 2023 ranking of European countries by life insurance revenue, Cyprus placed 22nd. Slovenia narrowly outperformed Cyprus, with revenue figures also standing at about €403 million. As for the top performers in this sector, Denmark, Germany, and Italy ranked second, third, and fourth, respectively.
