Market Leader with Potential for Further Penetration
eurolife
Cyprus Market
eurolife Profitable Life Insurance Business - Valuable and Sustainable Contribution
Key Facts
Key Highlights
2%1
of
GDP
Life Insurance premiums vs 4.0% for Europe
Further Market penetration potential
5.5%
CAGR
C.27%2
20%3
ROE
2019-2022 Cyprus market premium growth vs
10.8% for Eurolife
Growing above Cyprus market
#1 in Market share
Cyprus Life Insurance Leader
Profitable in all years of operations
>200% Solvency ratio³
.
.
#1 in Life Insurance in Cyprus; established in 1989
Attractive tax incentives for Life insurance holders in Cyprus
Strong agency and bancassurance channels
Solid brand awareness (>95%) and excellent customer
satisfaction (9/10)
Life Insurance policies are predominantly Unit Linked
>€550 mn Assets under Management (leader at >35% market
share)
> €10 mn dividends to Group each year
Continuous portfolio growth with increasing profitability
>70k
customers
Highest # of individuals customers in
Cyprus with 72k life and 17k health
2)
723
1)
Source: Insurance Europe 2020
3)
Total regular income for Life, Health & Occupational Pension, FY2022
Based on 1Q2023 financials
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