Read the latest edition of AIR and MEIR as an Interactive e-book

May 2024

Market Profile


Life (insurance) during wartime

To say that Lebanon has had a tough couple of decades would be an understatement. Once considered to be the financial capital of the Middle East, the ravages of history have taken their toll – relentlessly diminishing the size of the life insurance market – and 2024 doesn’t look like it is going to offer much respite.

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Lebanon's general insurers stay resilient despite market gloom

The political and economic situation in Lebanon continue to pose challenges but the non-life insurance industry remains active amid the tough environment, demonstrating resilience in adapting to conditions of instability. We spoke to Arope Insurance’s Mr Fateh Bekdache about the dynamics of the market.

Lebanon: New regulations needed for stability

Lebanon’s insurance industry is going through significant changes, such as exclusion of war risks since the outbreak of war, digitalisation and adoption of IFRS17. However, there have been no new regulations or reform to maintain stability. We spoke with experts.

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Lebanon struggles to grow amid economic crisis

The Lebanese insurance market recorded LBP2.48tn in gross written premiums in 2022, down 2.94% from 2021, attributed to an economic crisis and the aftermath of the Beirut port explosion. Gross paid claims rose by 17%, with non-life premiums surging to LBP2.06tn, led by health and motor insurance.

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