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Universal Life Insurance

General Information

universal_logoIncorporated as a private company by prominent Cypriot businessmen in 1970, Universal Life was the first insurance company to be founded in Cyprus after the enactment of the local insurance legislation. Universal Life was instrumental in the development of the life insurance industry in Cyprus through the introduction of new insurance concepts and the advancement of insurance values amongst Cypriots.

Today, Universal Life is one of the most prominent life insurance companies of the island and the leading company in the local accident and health sector. Universal Life is acknowledged as the most trustworthy and credible insurance company by Cypriot consumers as it has been recorded multiple times in various research.

In 2008 the Universal Life Group became a subsidiary of Photos Photiades Group.

The Company’s products are distributed through a network of professional and highly trained full time insurance agents.

Furthermore, Universal Life is a socially responsible company that has a policy to give back to society by being an active contributor in areas that have a positive impact on the quality of life of all Cypriots thus giving a true meaning to its motto “because life is precious”.

Investment Funds

Universal Life currently operates four Internal Investment Funds which consist of units of equal value. Each Fund has its own investment policy and you can invest in any combination of the four Funds depending on the risk you are prepared to take.

Universal Dynamic Fund
Universal Dynamic Fund aims to achieve high long term capital appreciation by investing mainly in growth assets. It is considered as a “High” risk Fund.

Universal Growth Fund
Universal Growth Fund aims to achieve high, long-term return mainly from capital and income gains.

Universal Property Fund
Universal Property Fund aims to achieve relatively high, long term return mainly from investments in real estate.

Universal Security Fund
Universal Security Fund aims to achieve a satisfactory long term return mainly from fixed income investments.

Universal Guaranteed Fund
Universal Guaranteed Fund provides a guaranteed return, which is calculated in relation to the base interest rate – repo rate of the European central bank.  The Fund invests mainly in bank deposits.

Universal Dynamic Fund

Universal Dynamic Fund aims to achieve high long term capital appreciation by investing mainly in growth assets. It is considered as a “High” risk Fund.


Insurance Products

Universal Life offers a complete range of life, accident & health and pension products.


Term Insurance
Because the unexpected is part of life.
Triple Protection in one package.
Yes to insurance cover, yes to building up capital.
Lifetime protection for your family.
Comprehensive insurance protection for all your life.
For open minded women, like you.
UniMaster Plus
The educational plan that belongs exclusively to your child.
Immediate Investment.
Investor’s Plan
For systematic investment with low insurance cost.
Investment-Max is a fixed-duration scheme until the age of 80.
Endowment Scheme
Systematic Saving & Stability.


MultiCare Premiere
Our top of the range health plan with an overall annual maximum coverage of €3,000,000.
MultiCare ValuePlus
One of the most popular plans with cover of treatment up to an overall annual maximum limit of €200,000.
MultiCare SmartStart
A health plan option created especially for younger generation with coverage up to an overall annual maximum of €100,000.
MultiCare StudentCare
A health plan especially designed to cater for students’ needs with an annual maximum of €100,000.
Medical Cover for Employees
A simple medical plan for all foreign employees who live in Cyprus.
Personal Accident
Provides financial backup in the unfortunate case of an accident


Have you planned for the years to come?
Life Income
For a guaranteed, fixed income for life.

Group Products

Group Life
Protection for the families of your employees the most inexpensive way
Build up capital for your employees or your members for increasing their benefits at retirement
Group MultiCare
The best-selling health plan in Cyprus can now be accommodated for the employees of your organization.
Group Medical
Group Medical is a comprehensive and inexpensive health plan, which ensures that you and your dependants are adequately covered.



Board of Directors

Photiades Pavlos Ph.,
Solomides Socrates,
Vice Chairman
Gavas Evan,
Chief Executive Officer
Christodoulides Stavros
Dekatris Constantinos
Georgiou Andreas
George George A.
Iacovidou Agrotou Maria
Photiades Alexis Ph.
Savvides Marios
Syrimis Nicos
Spyris Eleana,

Senior Management Team

Gavas Evan
Chief Executive Officer
Iacovides Pantelis
Chief Financial Officer
Miranthis Kypros
General Manager Corporate Services & Deputy CEO
Nicolaou Marios
Head of Strategic Planning and Development
Olympios Kyriacos
Chief Information Officer
Sideras Savvas
General Manager/Chief Operating Officer
Savvides Koullis
Sales Manager

Management Team

Andreou Loucas
Property Manager
Constantinidou Kyriaki
Program Manager
Georgiadou Elena
Supervisor – HR Department
Evangelou Rebecca
Actuarial Services Manager and Chief Risk Officer
Karoulla Meropi
Head of Customer Support
Neophytou Neophytos
Underwriting & Claims Manager
Ntasiakli Anastasia
Group Internal Auditor
Panayi Mestana Dorita
Digital Transformation Manager
Pishoftas Petros
Chief Technology Officer
Sofokleous Konstantinos
Chief Investments Officer
Sofroniou Stelios
Accident & Health Manager
Spyris Eleana
Head of Legal & Compliance, Company Secretary
Zavou Cylia
Head of Policy Administration

Contact us


Universal Tower
85, Dhigenis Akritas Avenue
P.O Box 21270
1505 Nicosia, Cyprus
Tel.: +357 22882222
Fax.: +357 22882200
email: info@unilife.com.cy