Cyprus Mail
Business

Insurance firms under liquidity, capital adequacy, pressure resort to figure cooking

By Stelios Orphanides

Cypriot insurance companies saw their premiums in both life and non-life business follow a downward path as claims remained comparatively high, official data showed.

The gloomy picture was compounded by a circular forwarded by the Insurance Companies Control Service (ICCS), an independent body supervising insurance companies in Cyprus, which indicated that some companies resorted to practices aiming at inflating figures in order to meet regulatory requirements.



Related posts

MPs give government minimum wage deadline

Staff Reporter

Brexit will not unduly affect Cyprus shipping, minister says

Annette Chrysostomou

Special InvestCyprus unit to focus on tourism investments

Legal 500 welcomes guests to inaugural Cyprus Summit

Staff Reporter

Deadlock at EU budget summit as rival camps dig in (update)

Reuters News Service

Cyprus prepares for new world order: negative interest rates

Kyriacos Iacovides