Cyprus residents gave lower ratings to motor insurance companies in 2026 than they did a year earlier. This is according to the latest insurance reliability survey conducted by RAI Consultants on behalf of StockWatch.
The industry's average score in June 2026 stood at 5.4 out of 10, compared with 5.99 in June 2025. Despite the overall decline in consumer confidence, the country's largest insurers continue to hold the leading positions and remain the preferred choice for most customers.
The survey measures public perception rather than insurers' financial performance. Participants were asked how reliable they consider their insurance company to be and whether they would recommend it to others.
The survey included 600 respondents from across Cyprus. Men and women aged 18 and over, living in both urban and rural areas, took part. The data was collected using a random multi-stage stratified sampling method. Telephone interviews were conducted by RAI Consultants between June 2 and June 8, 2026.
Who topped the rankings in 2026?
General Insurance of Cyprus once again secured first place with a score of 6.45 points. A year earlier, the company scored 6.5, demonstrating that it continues to enjoy a high level of customer confidence. As part of the Bank of Cyprus Group, it remains one of the island's best-known insurance providers.
ERB Insurance ranked second with 6.35 points. The company was created through the merger of CNP Insurance and Pancyprian Insurance, making 2026 the first year it appears in the survey under a single brand. By comparison, CNP Insurance scored 6.75 in the previous survey, while Pancyprian Insurance received 6.30.
Hydra took third place with 5.9 points, down from 6.25 a year earlier. Despite the decline, the insurer remains among the most trusted companies in the market.
How the other insurers performed
Most insurance companies recorded lower trust scores this year. Atlantic received 5.15 points, compared with 6.15 in 2025. This placed the company below the industry's average rating of 5.4. Kosmos also scored 5.15, down from 5.7 a year earlier.
Gan Direct received 5.1 points, compared with 5.45 last year, while Minerva's score fell from 5.6 to 5.05.
Trust and Anytime each received 5.0 points. In the previous survey, Trust scored 5.95 and Anytime 5.6. Experts suggest that this decline may reflect rising insurance premiums, an increase in claims, and growing customer expectations regarding service quality and claims processing times.
What changed after the insurance company merger?
One of the most significant developments in the market was the completion of the merger between CNP Insurance and Pancyprian Insurance. Since 2026, both companies have been operating under the unified ERB Insurance brand, which is why they appear as a single entity in this year's survey.
The consolidation of the insurance market is regarded as one of the key trends in Cyprus in recent years. Experts believe that larger insurance groups will benefit from greater financial stability, a broader range of digital services, and improved customer service.
Although the survey reflects consumer trust in insurance providers, experts stress that when choosing compulsory third-party liability insurance or comprehensive motor insurance, drivers should consider not only an insurer's reputation but also the policy terms, deductible, claims handling speed, customer support, and financial strength.
As Cyprus' insurance market continues to evolve, competition among insurers is increasing, while digital services and higher standards of customer care are becoming some of the most important factors influencing consumers' decisions.
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