Lebanon: Premiums flat in 1H

Source: Middle East Insurance Review | Nov 2015

Insurance premiums in the Lebanese market showed marginal growth of 0.8% y-o-y to US$782 million in the first half of 2015, according to figures released by the Association of Insurance Companies in Lebanon (ACAL).

The three biggest sectors of the insurance market in the first half of the year were medical, with premiums reaching $270 million and accounting for 35% of the sector’s aggregate premiums, life ($207.1 million, 26%); and motor ($165 million, 21%).

ACAL said that total claims paid by insurance companies amounted to $356.4 million in the first half of 2015, up 1.8% from the corresponding period of 2014. Medical claims accounted for 42.1% of total payouts in the first half of 2015, followed by motor claims (24.6%), and life claims (22.3%). The three lines of business accounted for 89% of aggregate claims in the insurance market.

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