Published on: 23/04/2025
Life insurance premiums in the Lebanese Insurance Sector rose by 2.82% in 2024 to $98.45 million, up from $95.75 million in 2023.
“Al Bayan Economic” magazine published in its April 2025 issue (Issue No. 640) an overview of the evolution of life insurance premiums at the 30 life insurance companies operating in Lebanon in the year 2024. More specifically, the article unveiled that life insurance premiums rose by 2.82% in 2024 to $98.45 million, up from $95.75 million in 2023.
From another perspective, Al Bayan revealed that the ten largest insurance companies operating in Lebanon amassed 91.89% of the total life insurance premiums in the year 2024, with the twenty largest companies controlling a stake of 99.37%. Among said companies, Metlife topped the list of insurance companies, with its life insurance premiums aggregating to $44.15 million (27.3% y-o-y increase), followed by SNA ($13.82 million; 5.5% y-o-y drop), Bankers ($10.23 million; 15.1% y-o-y increase), and Securite ($4.65 million; 11.9% y-o-y decrease), only to name a few.
Only eleven insurance companies saw an increase in their life insurance premiums in 2024, with Victoire registering the largest annual rise of 209.1%, followed by Arope (44.0% increase) and Fidelity (36.0% rise). It is worth noting that the share of life insurance premiums at insurance companies affiliated to banks stood at 3.3% ($3.22 million) of total life insurance premiums in Lebanon in the year 2024 compared to a stake of 52.5% in 2019.
| (USD Thousands) | 2023 | 2024 | Y-O-Y % Change |
| Metlife | 34,670 | 44,150 | 27.3% |
| SNA | 14,630 | 13,820 | -5.5% |
| Bankers | 8,890 | 10,230 | 15.1% |
| Securite | 5,280 | 4,650 | -11.9% |
| Fidelity | 2,970 | 4,040 | 36.0% |
| AXA M. E. | 3,460 | 3,630 | 4.9% |
| LIA Assurex | 2,900 | 3,430 | 18.3% |
| Libano Suisse | 5,950 | 2,960 | -50.3% |
| Arabia | 2,840 | 1,880 | -33.8% |
| Medgulf | 1,600 | 1,680 | 5.0% |
| Arope | 1,000 | 1,440 | 44.0% |
| Trust Compass | 1,960 | 1,360 | -30.6% |
| Adir | 3,500 | 1,100 | -68.6% |
| Commercial | 820 | 1,010 | 23.2% |
| Amana | 1,110 | 890 | -19.8% |
| SGBL Insurance | 1,980 | 490 | -75.3% |
| Burgan | 820 | 300 | -63.4% |
| C.I.G. | 390 | 300 | -23.1% |
| Al Mashrek | 220 | 280 | 27.3% |
| Capital | 160 | 190 | 18.8% |
Source: Source: Al Bayan Economic Magazine, Credit Libanais Economic Research Unit