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March Sees a Significant Upsurge in Cyprus Retail Trade Turnover by 5.6%

The retail trade industry in Cyprus experienced a notable boost in March 2025. According to data from the Cyprus Statistical Service (Cystat), both the value and the volume of retail turnover increased by 5.6% compared to March of the previous year.

This growth in the Turnover Value Index of Retail Trade, excluding motor vehicles, highlights a steadily rising consumer activity. The Turnover Volume Index, which factors in the quantity of goods sold, also mirrored this 5.6% growth year-on-year, suggesting a steady expansion in the sector’s economic footprint.

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Genikes Insurance Wins Two Global Banking And Finance Awards

Genikes Insurance received two distinctions at the Global Banking and Finance Awards 2026, winning Best General Insurance Company in Cyprus and Best Insurance Website Cyprus. The awards reflect the company’s position within the Cypriot insurance market as well as its broader digital transformation strategy focused on expanding online services and improving customer experience.

Market Leadership And Digital Transformation

Genikes Insurance has invested in developing a more modern digital platform designed to simplify key insurance services, including policy issuance and online claims management. The company said the upgraded platform aims to improve efficiency and accessibility while strengthening its position within an increasingly competitive insurance sector.

Customer-Centric Approach

Commenting on the recognition, General Manager Christiana Agrotis said the company continues focusing on reliability, innovation and customer-focused services tailored to the needs of the Cypriot market. According to Agrotis, the recognition of the company’s digital platform also reflects the trust customers place in its services and broader insurance offering.

Technology-Driven Innovation

The updated website was designed to provide simpler navigation and improved access to insurance information and digital services. Company officials said the platform forms part of broader efforts to integrate technology more closely into customer service and operational processes. Genikes Insurance added that it remains focused on strengthening long-term customer relationships while continuing investments in digital capabilities and service development.

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