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Life Insurance in Cyprus, Key Trends and Opportunities to 2020

  • August 2017
  • 100 pages
  • Timetric
Report ID: 2065615

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Synopsis
Timetric’s ’Life Insurance in Cyprus, Key Trends and Opportunities to 2020’ report provides a detailed analysis of the market trends, drivers and challenges in the Cypriot life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, 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 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 ’Life Insurance in Cyprus, Key Trends and Opportunities to 2020’ report provides in-depth market analysis, information and insights into the Cypriot life insurance segment, including:
• The segment’s growth prospects by life insurance category
• Key trends, drivers and challenges for the segment
• A comprehensive overview of the Cypriot economy and demographics
• The various distribution channels in the segment
• Details of the competitive landscape in the segment
• Details of regulatory policy applicable to the Cypriot insurance industry

Scope
This report provides a comprehensive analysis of the life 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 analyzes the various distribution channels for life insurance products in Cyprus.
• It profiles the top 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 life 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.

Key Highlights
• In January 2017, the new EU Pensions Directive (2341/2016/EC) on the activities and supervision of institutions for occupational retirement provisions (IORP II) became effective; EU members are required to implement the stipulated changes by January 13, 2019. The changes will mainly impact the governance of class VII pension products in Cyprus.
• 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.
• On January 1, 2016, American Life Insurance Co. converted its operations into a branch of Metlife Europe Ltd in Cyprus after transferring its portfolio to the company.

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