The Insurance Control Commission published its “Insurance Sector Quarterly Report”, conveying a 12.39% annual hike in the sector’s gross written premiums to $1,332.33 million during the first nine months of 2021, from $1,185.45 million during that same period in 2020.
Between shortages and skyrocketing prices, a trip to the pharmacy in Lebanon exposes huge inequalities, while a trip to a charity clinic for treatment has become the norm for hundreds of thousands of people.
The total gross written premiums of 46 licensed insurance companies in Lebanon reached $928.8m in the first half of 2021, constituting an increase of 12.1% from $828.8m
mergerOn 27 July 2021, the Insurance Control Commission (ICC) approved the merger between the two Lebanese insurance companies LIA Insurance and Assurex Insurance and Reinsurance.
Of an estimated $1.1bn in insured losses caused by the 4 August 2020 Beirut Port explosion, only about $100m have been paid to date
Lebanese insurance companies are refusing to compensate for damages caused by last year’s explosion at the Beirut port, pending investigation results.
The Association of Insurance Companies in Lebanon (ACAL) has elected a new board, with Mr Elie Nasnas, general manager of AXA Middle East as chairman of the association
Five months on from the devastating Beirut port explosion that killed over 200 people, and injured thousands more, many claimants inquire about the fate of compensations they expect to receive from insurance companies pending the release of an official report on the cause and nature of the blast.