Magazine Table of Contents
The Lebanese Ministry of Economy and Trade and the Insurance Control Commission must have the hardest job in the region: Regulating an insurance sector reeling from multiple shocks. We spoke to Lebanon’s minister of economy and trade Raoul Nehme to get a first-hand account of how the regulatory environment is being managed to facilitate progress in the insurance sector.
In the face of persistent economic uncertainties and challenges, it is imperative that life insurers in Lebanon take an optimistic yet calculated approach in exploring ways to steer through the crisis strategically and emerge stronger.
Lebanon's currency crisis poses serious risk to growth for the non-life insurance market. We spoke to Arabia Insurance’s Mr Samer Abou Jaoude and Ixpan’s Mr Ronald Chidiac about how the country’s current economic and political crisis is affecting insurance.
Reinsurance rates are hardening and capacity is tightening globally; for Lebanon’s insurance industry, the impact is worse as it contends with economic hardship and currency devaluation.
Bsynchro’s Mr Michel Chammas gives an overview of how the InsurTech landscape has developed amidst the unique complexities in the Lebanese insurance market. He believes that InsurTech can enable incumbents to drive better customer experiences and deliver more value.