The insurance industry entered 2026 on the right foot, continuing the upward trend of recent years for another quarter, and specefically the first quarter of the year, reaffirming its great potential, but also its resilience in the face of significant challenges.
According to the statistical data collected by the Insurance Association of Cyprus, premiums in the Life Sector, including accident and health insurance premiums from Life companies, recorded an annual increase of 10.5% and, excluding accident and health premiums from Life companies, an increase of 10.4%.
At the same time, General Insurance premiums showed an annual increase of 5.2%.
The shares of the Life Sector
Regarding the life sector, according to Association data, total gross premiums, including accident and health premiums from Life companies, amounted to €230,041,613 in the first quarter of 2026, compared to €208,174,074 in the corresponding quarter of 2025, showing an increase of 10.5%.
Further analysis of the same data shows that the largest share in Life insurance premiums is held by Eurolife (30.9%) with €71 million compared to €62 million in the first quarter of 2025, recording a decrease of 14.6%.
In second place is ERB Cyprialife, holding 30.4% of premiums, which amounted to €70 million compared to €61.2 million in the first quarter of 2025, recording an increase of 14.4%, while in third place was Universal Life (14.3%), whose Life insurance premiums amounted to €32.9 million compared to €34.8 million in the first quarter of 2025, recording a decrease of 5.4%.
Metlife (8.7%) was in fourth place with €20 million compared to €18.2 million in the first quarter of 2025, recording an increase of 9.6%, while the top five was completed by Ancoria (6%) with €13.7 million compared to €12.1 million in the first quarter of 2025, recording an increase of 13.4%.
Excluding accident and health insurance premiums
Excluding accident and health insurance premiums from Life companies, total Life insurance premiums amounted to €196,762,511 in the first quarter of 2026 compared to €178,246,119 in the corresponding quarter of 2025, recording an increase of 10.4%.
An analysis of the data shows that, in this case, ERB Cyprialife holds the largest share at 33.3%, with premiums reaching €65.5 million compared to €56.7 million in the first quarter of 2025, showing an increase of 15.6%.
Eurolife was in second place, holding 31.4% of premiums, which amounted to €61.8 million compared to €55.1 million in the first quarter of 2025, recording an increase of 12%, while Universal Life (10.5%) was in third place, whose premiums reached €20.6 million compared to €23 million in the first quarter of 2025, recording a decrease of 10.3%.
In fourth place was Ancoria (7%) with €13.7 million compared to €12.1 million in the first quarter of 2025, recording an increase of 13.4%, while the top five was completed by Metlife (6.5%) with €12.8 million compared to €11.6 million in the first quarter of 2025, showing an increase of 10.9%.
The course of the general sector
As regards the General Sector, total gross premiums excluding accident and health premiums from Life companies amounted to €142,922,674 in the first quarter of 2026 compared to €135,875,367 in the corresponding quarter of 2025, showing an increase of 5.2%.
From further analysis of the same data, it emerges that the largest share in general insurance premiums, excluding accident and health insurance premiums from Life companies, is held by ERB Asfalistiki (21.4%) with €30.5 million compared to €29.9 million in the first quarter of 2025, showing an increase of 2%.
In second place was Genikes Insurance (16%) with €22.8 million compared to €23.2 million in the first quarter of 2025, showing a decrease of 1.6%, followed by Trust (11.9%) with €17 million compared to €15.6 million in the first quarter of 2025, recording an increase of 8.6%.
In fourth place was AIG (8.4%) with €12 million compared to €10.5 million in the first quarter of 2026, recording an increase of 14.9%, while the top five is completed by Atlantic (5.2%) with €7.4 million compared to €6.7 million in the first quarter of 2025, showing an increase of 10.1%.
(Source: InBusinessNews)
