Boston, MA -- (SBWIRE) -- 04/10/2014 -- The Cypriot healthcare system is characterized by absence of universal coverage. Although designed to provide comprehensive coverage, the general health insurance system (GHIS) has not been implemented due to cost overruns and pressure on government finances from the financial crisis. In terms of total healthcare expenditure, the share of the private sector stood at 57%, higher than public expenditure which stood at 43% in 2011. The current public system lacks efficiency and technological capability and has resulted in an increased dependence on private sector insurance. The personal accident and health segment's written premium increased at a CAGR of 7.8% during the review period (2008-2012). The troubled state of the economy, rising unemployment figures and a decline in disposable income is impacting demand for personal accident and health products.

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Report Highlights

- Changing lifestyle patterns and improving health awareness among the Cypriot population resulted in an increase in per capita healthcare expenditure during the review period
- The personal accident and health segment's written premium increased at a CAGR of 7.8% during the review period (2008-2012)
- The personal accident insurance category is the largest in the segment, accounting for an industry share of 51.5% in 2012
- Over the forecast period, rising health expenditure, an aging population and increased co-ordination between the public and private sector will underline growth
- The segment is highly concentrated with the 10 leading companies accounting for 83.2% of the total personal accident and health gross written premium in 2012

Report Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Cyprus:

- It provides historical values for the Cypriot personal accident and health insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key sub-segments in Cypriot personal accident and health insurance segment, along with market forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for personal accident and health insurance products in Cyprus.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Cyprus for the personal accident and health insurance segment.
- It provides a detailed analysis of the reinsurance segment in Cyprus and its growth prospects.
- It profiles the top personal accident and health insurance companies in Cyprus and outlines the key regulations affecting them."

Reasons to Get this Report

Companies Mentioned in this Report: Universal Life Insurance Public Company Ltd, MetLife Alico, Euro Life Ltd, Laiki CypriaLife, Laiki Insurance Ltd, General Insurance Company of Cyprus Ltd, Cosmos Insurance Company Public Ltd, Alpha Insurance, AIG Europe Ltd, Ethniki Insurance (Cyprus) Ltd

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