Latest News
20/09/2020
Complaint handling specialist engaged to help with Beirut port insurance claims
Conflict between businesses and insurance companies concerning responsibility for damages from the 4 August Beirut port explosion has erupted into the open, pushing a major trade chamber to engage a complaint handling specialist to negotiate between the two sides.
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13/09/2020
Insurers await Beirut port investigation report
The only obstacle to paying all the insurance claims resulting from the unfortunate 4 August blast at the Beirut port is that there has been no release yet of the report on the investigation into the explosion
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07/08/2020
Insured losses from Beirut blast seen around $3 billion
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say.
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06/08/2020
After Beirut Port Explosion, AM Best Comments on Potential Insurance Exposures
The devastating explosion at the Beirut’s port on Tuesday, Aug. 4 caused many casualties and considerable damage, but local insurance penetration rates in Lebanon generally are low, said AM Best in a market commentary.
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05/08/2020
Hannover Re expects ‘major loss’ from Beirut explosion
German reinsurer Hannover Re SE on Wednesday said it will see a “major loss” from the explosion in Beirut, Lebanon, as it reported net income fell 39.3% to €402 million ($478 million) for the first half of the year.
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23/06/2020
Arabia Insurance to sell 67% stake
A group of Lebanese and other Arab investors have made a bid to purchase no less than 67% of Arabia Insurance, according to a letter sent to shareholders of the company last week.
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28/04/2020
Q&A with actuary Ibrahim Muhanna on insurance liabilities amid economic crisis
Practically every private household in Lebanon relies on one or other insurance service, beginning with the mandatory protection of motorists under third-party liability insurance or savings schemes offered by life insurers.
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24/04/2020
Insurance firms to hike pound rates to current market levels
Lebanon’s insurance companies will change most of their insurance policies to the current pound price rates in the parallel market as the sector reels under the severe economic conditions
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