The Cypriot insurance sector recorded a notable increase in premiums during 2023, surpassing €1 billion in turnover for another consecutive year, it emerged this week.
Specifically, total premiums for 2023 reached €1.204 billion, marking a 14.3 per cent rise from €1.053 billion in 2022, according to data presented at the 46th annual general meeting of the Insurance Association of Cyprus (IAC). The event was held on Tuesday afternoon in Nicosia.