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Insurance Average Salaries in Cyprus 2019

How much money does a person working in Insurance make in Cyprus?

3,417 EUR per month
Average Monthly Salary
A person working in Insurance in Cyprus typically earns around 3,417 EUR per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different Insurance jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst3,931 EUR
Actuarial Assistant3,259 EUR
Actuary4,106 EUR
Adjustment Insurance Clerk2,288 EUR
Assistant Broker2,930 EUR
Assistant Claims Manager3,818 EUR
Associate Insurance Representative2,575 EUR
Auditing Insurance Manager4,864 EUR
Broker3,433 EUR
Claim Advocacy Professional3,555 EUR
Claims Adjuster2,401 EUR
Claims Analyst2,503 EUR
Claims Examiner2,690 EUR
Claims Manager3,988 EUR
Claims Processor2,590 EUR
Claims Representative2,442 EUR
Claims Resolution Specialist3,658 EUR
Claims Supervisor3,363 EUR
Complaints Specialist3,235 EUR
Compliance Officer2,667 EUR
Consultant3,229 EUR
Eligibility Specialist3,256 EUR
Insurance Account Manager3,759 EUR
Insurance Accounts Executive3,731 EUR
Insurance Agent2,939 EUR
Insurance Analyst3,361 EUR
Insurance Appraiser3,378 EUR
Insurance Claims Clerk2,272 EUR
Insurance Examiner3,124 EUR
Insurance Investigator3,067 EUR
Insurance Manager4,385 EUR
Insurance Operations Manager4,347 EUR
Insurance Policy Processing Clerk2,477 EUR
Insurance Pricing Assistant3,092 EUR
Insurance Program Manager3,819 EUR
Insurance Project Manager3,714 EUR
Insurance Quality Assurance Agent3,032 EUR
Insurance Sales Agent2,575 EUR
Insurance Sales Director4,202 EUR
Insurance Team Leader3,488 EUR
Insurance Underwriter2,940 EUR
Loss Control Specialist3,397 EUR
Loss Prevention Investigator3,503 EUR
Loss Prevention Manager3,827 EUR
Loss Prevention Specialist3,630 EUR
Marine Underwriter3,279 EUR
Medical Auditor3,388 EUR
Monitoring and Performance Officer2,670 EUR
Payment Services Specialist3,378 EUR
Policy Change Director4,111 EUR
Policy Change Supervisor3,745 EUR
Policy Change Technician2,678 EUR
Risk Analyst3,670 EUR
Risk Management Director4,624 EUR
Risk Management Supervisor3,841 EUR
Risk Manager4,359 EUR
Risk Modeling Manager4,570 EUR
Title Insurance Typist2,785 EUR
Training Manager3,622 EUR

Insurance Jobs Salary Distribution in Cyprus

Median and salary distribution monthly Cyprus Insurance

Abount These Figures: Salary Range, Median and Percentiles

The Insurance salaries in Cyprus range between 2,279 EUR per month (minimum salary) to 5,065 EUR per month (maximum salary).

The median salary is 3,280 EUR per month, which means that half (50%) of people working in Insurance are earning less than 3,280 EUR while the other half are earning more than 3,280 EUR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 2,502 EUR while 75% of them are earning more than 2,502 EUR. Also from the diagram, 75% of people working in Insurance are earning less than 3,839 EUR while 25% are earning more than 3,839 EUR.

What is the difference between the median and the average salary? What should you be looking at?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Insurance Salary Forecast and Trend in Cyprus

How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Cyprus Insurance
Average Salary 2016    =  
3,202 EUR
Average Salary 2017    +4%  
3,320 EUR
Average Salary 2018    +1%  
3,363 EUR
Average Salary 2019    +2%  
3,417 EUR
Percentage increase and decrease are relative to the previous value
Insurance salaries in Cyprus are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Insurance Hourly Average Wage in Cyprus

20 EUR per hour
Average Hourly Wage

The average hourly wage (pay per hour) in Cyprus for Insurance is 20 EUR. This means that the average person in Cyprus earns approximatly 20 EUR for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.

Insurance VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly CyprusWe compared Cyprus salaries for Insurance and All Jobs and we found that Insurance salaries are 0% less than those of All Jobs.

Salary Comparison By City

CityAverage Salary
Larnaka3,007 EUR
Limassol3,553 EUR
Nicosia3,291 EUR
2742 - 4
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