Trust in life insurance companies has recorded an improvement in the past two years according to a new survey by StockWatch.

According to the survey that covered 600 households, the degree of credibility of 9 life insurance companies increased in June 2015 to 5.5 out of 10 from 5.3 in July 2014 and 5 in October 2013.

The index reflects the consumers’ perceptions for the major life insurance companies, based on the answers given in two questions - how reliable is the insurance company and if they would recommend it to others.

Universal Life receives a total score of 6.40 out of 10 on its credibility, - 6.8 on how reliable is considered and 6 whether it would be recommended.

The subsidiary of Bank of Cyprus Eurolife scores 6.25 out of 10 on its credibility, - 6.6 on how reliable is considered and 5.9 whether it would be recommended.

The survey data show that Hellenic Alico is rated with 5.65 while the reliability of CNP increased to 5.35.

The National Insurance scores 5.30.

As for Alpha Insurance, it is rated with 5.20 the same as Metlife.

In the credibility scale, as shown in the table, Metlife is followed by Prime Insurance and Allianz.

The shown trust index is partly associated to how recognizable the companies are, among the insured persons.

The sample size was 600 people. The coverage was nationwide, urban and rural areas, men and women 18 or older.

The methodology was multistage stratified random sampling.

The data collection method was through telephone interviews from the call center of RAI.

The data were collected between 15-18 June 2015.