DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/vzv3pw/the_insurance) has announced the addition of the "The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017" report to their offering.
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.
Key Highlights
- 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"
Key Topics Covered:
Executive Summary
Introduction
The Middle East Region Market Dynamics
Lebanese Insurance Industry Overview
Life Insurance
Non-Life Insurance
Personal Accident and Health Insurance
Reinsurance
Analysis by Distribution Channel
Governance, Risk and Compliance
Competitive Landscape
Economic Indicators
Appendix
List of Tables
List of Figures
Companies Mentioned
- Allianz SNA
- Arope Insurance
- Bankers Assurance (Bankers)
- Medgulf SAL
- MetLife Alico
For more information visit http://www.researchandmarkets.com/research/vzv3pw/the_insurance
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