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The Insurance Industry in Lebanon to 2017:Industry Trends, Size and Shares Research Report


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The Insurance Industry in Lebanon to 2017:Industry Trends, Size and Shares Research Report

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The Insurance Industry in Lebanon to 2017:Industry Trends, Size and Shares Research Report

  1. 1. The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth industry analysis, information and insights of the insurance industry in Lebanon, including: The Lebanese insurance industry’s growth prospects by insurance segments and categories The competitive landscape in the Lebanese insurance industry The current trends and drivers of the Lebanese insurance industry Challenges facing the Lebanese insurance industry Detailed regulatory framework of the Lebanese insurance industry A benchmarking section on the Lebanese insurance industry in comparison to other countries in the Middle East region Executive summary Lebanon’s insurance industry is one of the most developed in the Middle East region. Foreign insurers have a considerable presence in the country’s insurance industry due to the government’s liberal regulatory regime. In terms of gross written premium, the industry posted a review-period (2008−2012) compound annual growth rate (CAGR) of 10.5%. The gross written premium was equivalent to 3.13% as a percentage of GDP in 2012. The minimum paid-up capital required for insurers to operate in the Lebanese insurance industry is US$1.5 million. On account of the lower capital threshold, there are more than 50 operational insurers in the industry resulting in intense completion. Pressure is mounting on regulatory authorities to increase the minimum paid up capital requirements. Scope This report provides a comprehensive analysis of the insurance industry in Lebanon: It provides historical values for the Lebanese insurance industry for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period. It offers a detailed analysis of the key segments and categories in the Lebanese insurance industry, along with forecasts until 2017. It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions. It profiles the top insurance companies in Lebanon, and outlines the key regulations affecting them. Reasons to buy Make strategic business decisions using in-depth historic and forecast industry data related to the Lebanese insurance industry and each segment within it. Understand the demand-side dynamics, key trends and growth opportunities within the Lebanese insurance industry. Assess the competitive dynamics in the Lebanese insurance industry. Identify the growth opportunities and market dynamics within key segments. Gain insights into key regulations governing the Lebanese insurance industry and its impact on companies and the industry's future. Key highlights The country was rated 48th globally and first in the Middle East and North African (MENA) region, in terms of insurance penetration by Swiss Re in 2013 The life segment was led by the individual life category, followed by the endowment category with respective segment shares of 59.2% and 40.8% The non-life segment was led by the motor insurance category, followed by property insurance, marine, aviation and transit insurance, and general liability insurance The industry comprises many small insurers due to the minimum paid-up capital being only US$1.5 million The industry is highly competitive with 52 operational insurers present in 2012 The life segment is highly concentrated with the five leading insurers representing 65.6% of the total life gross written premium collected in 2012 table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 The Middle East Region Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 3.2 Life Insurance – Regional Benchmarking 3.2.1 Scale And Penetration 3.2.2 Growth 3.2.3 Efficiency And Risk 3.3 Non-life Insurance – Regional Benchmarking 3.3.1 Scale And Penetration 3.3.2 Growth 3.3.3 Efficiency And Risk 3.4 Personal Accident And Health Insurance – Regional Benchmarking 3.4.1 Scale And Penetration 3.4.2 Growth 3.4.3 Efficiency And Risk 4 Lebanese Insurance Industry Overview 4.1 Lebanese Insurance Industry The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017
  2. 2. 4.2 Key Industry Trends And Drivers 4.3 Challenges 5 Life Insurance 5.1 Life Insurance Growth Prospects 5.1.1 Individual Life Insurance 5.1.2 Individual Endowment Insurance 5.1.3 Individual Unit-linked Insurance 5.2 Life Insurance Growth Prospects By Product Type 5.2.1 Individual Single-premium Policies 5.2.2 Individual Non-single Premium Policies 6 Non-life Insurance 6.1 Non-life Insurance Growth Prospects 6.2 Property Insurance 6.2.1 Fire And Allied Perils Insurance 6.2.2 Engineering Insurance 6.2.3 Other Property Insurance 6.3 Motor Insurance 6.3.1 Motor Hull 6.3.2 Motor Third-party 6.4 General Liability Insurance 6.5 Transit Insurance 7 Personal Accident And Health Insurance 7.1 Personal Accident And Health Insurance Growth Prospects 7.1.1 Personal Accident Insurance 7.1.2 Health Insurance 8 Reinsurance 9 Analysis By Distribution Channel 9.1 Life Insurance 9.1.1 Direct Marketing 9.1.2 Bancassurance 9.1.3 Agencies 9.1.4 E-commerce 9.1.5 Brokers 9.1.6 Other Channels 9.2 Non-life Insurance 9.2.1 Direct Marketing 9.2.2 Bancassurance 9.2.3 Agencies 9.2.4 E-commerce 9.2.5 Brokers 9.2.6 Other Channels 9.3 Personal Accident And Health Insurance 9.3.1 Direct Marketing 9.3.2 Bancassurance 9.3.3 Agencies 9.3.4 E-commerce 9.3.5 Brokers 9.3.6 Other Channels 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation Trends By Type Of Insurance 10.2.1 Life Insurance Regulatory Trends 10.2.2 Property Insurance Regulatory Trends 10.2.3 Motor Insurance Regulatory Trends 10.2.4 Liability Insurance Regulatory Trends 10.2.5 Marine, Aviation And Transit Insurance Regulatory Trends The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017
  3. 3. 10.2.6 Personal Accident Insurance Regulatory Trends 10.2.7 Health Insurance Regulatory Trends 10.3 Compulsory Insurance 10.3.1 Compulsory Motor Third-party Liability Insurance 10.3.2 Compulsory Work Injury Coverage 10.3.3 Universal Health Coverage Scheme 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors 10.4.2 Insurance Control Commission 10.5 Non-admitted Insurance Regulatory Trends 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulations 10.6.9 Statutory Return Requirements 10.6.10 Fee Structure 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Corporate Tax 10.7.3 Vat 10.7.4 Captives 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Court 10.8.3 Alternative Dispute Resolution (adr) 11 Competitive Landscape 11.1 Overview 11.2 Leading Companies 11.2.1 Medgulf S.a.l. – Company Overview 11.2.2 Allianz Sna – Company Overview 11.2.3 Metlife Alico – Company Overview 11.2.4 Arope Insurance – Company Overview 11.2.5 Bankers Assurance – Company Overview 12 Economic Indicators 12.1 Market Capitalization Trend – Beirut Stock Exchange, Lebanon 12.2 Gdp At Constant Prices (us$) 12.3 Gdp Per Capita At Constant Prices (us$) 12.4 Gdp At Current Prices (us$) 12.5 Gdp Per Capita At Current Prices (us$) 12.6 Inflation Rate 12.7 Exports As A Percentage Of Gdp 12.8 Imports As A Percentage Of Gdp 12.9 Total Internet Subscribers 12.10 Labor Force 12.11 Total Population 12.12 Urban And Rural Population 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Disclaimer The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017
  4. 4. ResearchMoz( is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: Website: The Insurance Industry in Lebanon, Key Trends and Opportunities to 2017