The Insurance Industry in Lebanon to 2017:Industry Growth Report

The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017

Synopsis The report provides in-depth industry analysis, information and insights of the insurance industry in Lebanon, including: The Lebanese insurance industry’s growth prospects by insurance segments and categories The competitive landscape in the Lebanese insurance industry The current trends and drivers of the Lebanese insurance industry Challenges facing the Lebanese insurance industry Detailed regulatory framework of the Lebanese insurance industry A benchmarking section on the Lebanese insurance industry in comparison to other countries in the Middle East region Executive summary Lebanon’s insurance industry is one of the most developed in the Middle East region. Foreign insurers have a considerable presence in the country’s insurance industry due to the government’s liberal regulatory regime. In terms of gross written premium, the industry posted a review-period (2008−2012) compound annual growth rate (CAGR) of 10.5%. The gross written premium was equivalent to 3.13% as a percentage of GDP in 2012. The minimum paid-up capital required for insurers to operate in the Lebanese insurance industry is US$1.5 million. On account of the lower capital threshold, there are more than 50 operational insurers in the industry resulting in intense completion. Pressure is mounting on regulatory authorities to increase the minimum paid up capital requirements. Scope This report provides a comprehensive analysis of the insurance industry in Lebanon: It provides historical values for the Lebanese insurance industry for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period. It offers a detailed analysis of the key segments and categories in the Lebanese insurance industry, along with forecasts until 2017. It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions...