Insurance linked to remittances might represent a large market opportunity for insurers, of up to around $1bn in the next 10 years, according to Swiss Re Institute.
Lebanese companies signed $13.6m worth of export credit insurance contracts with Kuwait-headquartered Arab Investment & Export Credit Guarantee Corporation (Dhaman) in 2018.
The Lebanese Insurance Brokers Syndicate has informed the Minister of Economy and Trade, Mr Mansour Batish, of the proposed establishment of a regional association of Arab insurance brokers to be based in Lebanon.
Lebanon's caisse mutuelle (mutual fund) system provides an excellent infrastructure for citizens to voluntarily create a common disaster insurance pool autonomously from the government, according to a commentary by environmental policy researcher and entrepreneur Mr Basil Mahfouz.
MetLife Alico has been ranked first and 12th in 2018 in terms of life and non-life premiums, respectively, according to Al-Bayan magazine's annual survey of the insurance sector in Lebanon.
Beirut-based InsurTech startup BSynchro has raised $1m in fresh funds from existing local VCs Berytech (Fund II) and Phoenician Funds (I), the startup has announced.
The insurance sector achieved growth of 3% during 2018, with the gross written premium reaching around $1.7bn, according to the Minister of Economy and Trade, Mr Mansour Bteich.
Saradar Capital Holding, the holding company of a Lebanese conglomerate, has acquired 51% of Assurex, a 40-year old Lebanese insurance company owned by the Fattal Group.
Lebanon's economy needs urgent "surgery" or it could collapse, Prime Minister Saad al-Hariri said on Sunday, and he also said that politicians remained fully united behind reforms agreed on last year, reported Reuters.
Online insurance startup, Comin Insure, is looking to raise funds of between $3m and $5m from a strategic partner, to fund its regional expansion.