Outstanding Financial Strength

Trust Cyprus is a financially strong company with total assets that exceed $75 million.

Financial Highlights
Trust Cyprus is a financially strong company with total assets that exceed $75 million. The company’s assets consist of investments, property and equipment, bank deposits and other assets in Cyprus and Jordan. The equity of the company exceeds $17 million.

The current Insurance Law requires a company that carries out General Insurance Business to maintain a Minimum Solvency Margin of €3,5 million. This implies that the approved investments and other assets of the company that are valued according to the relevant orders and directives, should exceed its liabilities by at least €3,5 million. Trust Cyprus has an excess of available assets over the Minimum Solvency Margin of €8 million.

 The legislation relating to the solvency of Insurance Companies is undergoing changes throughout Europe and a new framework, Solvency II, will be introduced at the beginning of 2014. The new legislation will lead Insurance Companies to face some risks and challenges, because it does not only change the way the Solvency Margin is calculated but is also reconsiders the way the companies operate and managed. Insurance Companies will need to introduce risk management in all their activities and will need to adopt models and mechanisms to enable them assess the capital required based on their exposure to these risks. Trust Cyprus has a competitive advantage because it is a member of a Group that is financially sound. The Group also offers support through an internal team of actuaries and other technocrats, that will enable a smooth transition to the new framework.

Financial Statement 2016

Financial Statement 2015

Financial Statement 2014

Financial Statement 2013

Financial Statement 2012

Financial Statement 2011

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