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

Date: 2015-09

Lebanonโ€™s insurance industry is one of the most developed in the Middle East region. Foreign insurers have a considerable presence in the countryโ€™s insurance industry due to the governmentโ€™s liberal regulatory regime. In terms of gross written premium, the industry posted a review-period (2008โˆ’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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