News Middle East13 Oct 2019

Lebanon:Independent brokers produce US$234m in insurance premiums in 2018

13 Oct 2019

Total premiums generated by independent brokers operating across Lebanon reached $234.2m in 2018, constituting a marginal increase of 0.6% from 2017.

The premiums were generated by 96 active independent brokers with available figures. They exclude premiums generated by brokers affiliated with commercial banks and those that operate exclusively for a specific insurance company, according to a report in Lebanon This Week, a publication of Byblos Bank's Economic Research and Analysis Department.

The brokers included in the survey generated 13.7% of total insurance premiums written in 2018 relative to 14.1% of the total in 2017.

The top 10 independent insurance brokers generated $122.5m in premiums in 2018 and accounted for 52.3% of the total, relative to premiums of $121.4m, or 52.1% of the total, in 2017.

The top five independent insurance brokers last year were:

  1. Cape Insurance Broker with $19.5m in premiums generated last year, equivalent to 8.3% of the total;
  2. WTW Gras Savoye followed with $16.6m (7.1%);
  3. Insurance Consultancy & Risk Assessment (ACAIR) with $16.3m (7%);
  4. Fast Car Rescue (FCR) Insurance Group with $15.8m (6.7%), and
  5. Agence Générale de Courtage d'Assurances (AGCA) with $12.6m (5.4%).


 

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