Market Leader with Potential for Further Penetration
Genikes
Insurance
Most Profitable Non-Life Company in Cyprus, with Potential to Further Penetrate the Market
High profitability
More profitable than the market in all major classes
Profit margins by class¹
Highest share of market profits
Shares in market profits (%)¹
32%
29%
26%
26%
24%
Strategy for prudent
underwriting
21%
19%
20%
19%
standards and careful
growth in Motor
10%
11%
results in a high profit
margin in a low
>
margin class
29%
21%
15%
-2%
Property Motor Liability A&H
Other
Total
Genikes
Market
With further growth prospects
Low Penetration of Cyprus vs Europe 2
Penetration: Total P&C premiums/GDP
2.5%
1.7%
Genikes
Insurance
Peer 1
Peer 2
Low Density of Cyprus vs Europe 2
Density: Total P&C premiums / Inhabitant (€)
Consistently increasing market share³ %
>
694
394
CY
EU
CY
EU
1)
2021 data
2)
Source: Insurance Europe 2020
3) Excluding A&H of life companies
13.7%
13.1%
12.6%
FY2020
FY2021
FY2022 FY20205
32View entire presentation