Gross Premiums Down 4.5% in 2022 in a Year
According to figures from the Insurance Control Commission under the Ministry of Economy, gross insurance premiums from the 46 insurance companies operating in Lebanon totaled LBP 2,456.4 billion in 2022
Tag Archives: Insurance Companies
Lebanon’s inflation hits 124% as energy, healthcare costs soar
Lebanon’s inflation more than doubled in January, as rising living costs continued to impact consumers and businesses.
Political instability in Lebanon hinders insurance sector reforms
According to A.M. Best Co. Inc., political instability in Lebanon has hindered the implementation of insurance reforms in the country, including new governance guidelines and transition to a risk-based solvency framework, Middle East Insurance Review reported.
Paying a lot more for much less: The woes of an insurance industry and its clients in a crisis-ridden land
“More and more cancer patients tell me that specific medications are not being covered by insurance … while it was previously covered,” said Cherine Bazzane, a family medicine specialist who practices in Clemenceau Medical Center.
INSURANCE PREMIUMS IN LEBANON AT $1,332.33 MILLION YTD SEPTEMBER 2021
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.
Lebanon: Healthcare as luxury
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.
Lebanon:Insurers see GWP rise by 12% to US$929m in 1H2021
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
Merger between LIA Insurance and Assurex Insurance
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.