Recently published research from Timetric, "The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/13/2014 -- 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.
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- The country was rated 48th globally and first in the Middle East and North African (MENA) region, in terms of insurance penetration by Swiss Re in 2013
- The life segment was led by the individual life category, followed by the endowment category with respective segment shares of 59.2% and 40.8%
- The non-life segment was led by the motor insurance category, followed by property insurance, marine, aviation and transit insurance, and general liability insurance
- The industry comprises many small insurers due to the minimum paid-up capital being only US$1.5 million
- The industry is highly competitive with 52 operational insurers present in 2012
- The life segment is highly concentrated with the five leading insurers representing 65.6% of the total life gross written premium collected in 2012
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 and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Lebanon, and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in-depth historic and forecast industry data related to the Lebanese insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Lebanese insurance industry.
- Assess the competitive dynamics in the Lebanese insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
Companies Mentioned in this Report: Medgulf SAL, Allianz SNA, MetLife Alico, Arope Insurance, Bankers Assurance (Bankers)
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