Governance, Risk and Compliance - The Cypriot Insurance Industry

Published by Global Data on 15th October 2018 | Ref: 1107219 | This Report Is In Stock

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$3812 | SAVE $673 | Enterprise License

Introduction

Governance, Risk and Compliance - The Cypriot Insurance Industry

Summary

GlobalData’s 'Governance, Risk and Compliance - The Cypriot Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Cyprus.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Cyprus, including -

- An overview of the insurance regulatory framework in Cyprus.

- The latest key changes, and changes expected in the country’s insurance regulatory framework.

- Key regulations and market practices related to different types of insurance product in the country.

- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Cyprus.

- Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.

- Details of the tax and legal systems in the country.

Key Highlights

- Insurance Companies Control Service (ICCS) regulate the Cypriot insurance industry.

- The FDI regime of Cyprus allows up to 100% foreign participation in domestic insurance companies.

- Composite insurance is not permitted in Cyprus.

- Solvency II, which introduced new risk management standards for insurers, was implemented in the beginning of 2016.

- Employer’s liability insurance and motor third-party liability insurance are key compulsory insurance classes in Cyprus.

Scope

- The report covers details of the insurance regulatory framework in Cyprus.

- The report contains details of the rules and regulations governing insurance products and insurance entities.

- The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.

- The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

- The report provides details of taxation imposed on insurance products and insurance companies.

Reasons to buy

- Gain insights into the insurance regulatory framework in Cyprus.

- Track the latest regulatory changes, and expected changes impacting the Cypriot insurance industry.

- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.

- Understand key regulations and market practices pertaining to various types of insurance product.

Table of Contents

Table of Contents

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

2 GOVERNANCE, RISK AND COMPLIANCE

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulation

2.3 Legislation and Market Practice by Type of Insurance

2.4 Compulsory Insurance

2.5 Supervision and Control

2.6 Non-Admitted Insurance Regulations

2.7 Company Registration and Operations

2.8 Taxation

2.9 Legal System

3 APPENDIX

3.1 Methodology

3.2 Contact GlobalData

3.3 About GlobalData

3.4 GlobalData’s Services

3.5 Disclaimer

Additional Details

Publisher

Global Data

Publisher Information

Reference

1107219 | GDIS0015RR

Number of Pages

73

Report Format

PDF

This report is published by Global Data

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