Lebanon Insurance Industry – Key Trends and Opportunities to 2028
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Lebanon Insurance Market Report Overview
The gross written premium of the Lebanon insurance market was LBP5.1 trillion ($81.5 million) in 2023. The market is expected to achieve a CAGR of more than 42% during 2024-2028. The Lebanon insurance market research report provides a detailed outlook by product category for the Lebanon insurance industry.
Lebanon Insurance Market Outlook, 2023-2028 (LBP Trillion)
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The Lebanon insurance market report provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period (2019–23) and forecast period (2024–2028). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Lebanon’s economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together GlobalData’s research, modeling, and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Market Size (2023) | LBP5.1 trillion ($81.5 million) |
CAGR (2024-2028) | >42% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Segments | · General Insurance
· Life Insurance |
Key Companies | · Bankers Assurance
· Fidelity Assurance & Reinsurance · Mediterranean and Gulf Insurance and Reinsurance · MetLife Alico Lebanon · Bancassurance SAL · Others |
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Lebanon Insurance Market Trends
The key trends impacting the Lebanon insurance market are war risk insurance and reinsurance. Reinsurers are responding to heightened tensions in the Middle East by introducing cancellation provisions in policies, particularly considering the conflict between Israel and Palestine. These clauses allow reinsurers to withdraw coverage in the event of a full-scale Middle East conflict, potentially leading to increased risks for insurers. Lebanon, as a neighboring country, also faces higher prices and limitations on coverage as reinsurers seek to navigate the complexities of the region’s geopolitical landscape.
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Lebanon Insurance Market by Segments
The key segments in the Lebanon insurance market are life insurance and general insurance. The general insurance segment dominated the Lebanon insurance market in 2023. The key lines of business in the Lebanon general insurance market are property, motor, liability, financial lines, MAT, general insurance PA&H, and miscellaneous. Motor insurance was the dominant line of business in 2023.
Lebanon Insurance Market Analysis by Segments, 2023 (%)
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Lebanon Insurance Market – Competitive Landscape
A few of the key companies in the Lebanon insurance market are Bankers Assurance, Fidelity Assurance & Reinsurance, Mediterranean and Gulf Insurance and Reinsurance, MetLife Alico Lebanon Bancassurance SAL, and others.
Lebanon Life Insurance Market Analysis by Companies, 2022(%)
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Segments Covered in the Report
Lebanon Insurance Market Segments Outlook (Value, LBP Tillion, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Lebanon insurance industry through the following:
- Historical values for the Lebanon insurance industry for the review period, 2019-2023, and projected figures for the forecast period, 2024-2028.
- A detailed analysis of the key categories in the Lebanon insurance industry and market forecasts up to 2028.
- Profiles of the top life insurance companies in Lebanon and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Lebanon insurance industry.
- A comprehensive overview of the Lebanon economy, government initiatives, and investment opportunities.
- The Lebanon insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Lebanon insurance industry’s market structure gives details of lines of business.
- Lebanon’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Lebanon insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Lebanon insurance industry.
- Assess the competitive dynamics in the Lebanon insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Fidelity Assurance & Reinsurance
Mediterranean and Gulf Insurance and Reinsurance
MetLife Alico Lebanon
LIA Insurance
Allianz SNA
Securite Assurances
AXA Middle East
Table of Contents
Frequently asked questions
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What was the Lebanon insurance market gross written premium in 2023?
The gross written premium of the Lebanon insurance market was LBP5.1 trillion ($81.5 million) in 2023.
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What will the growth rate of the Lebanon insurance market be during the forecast period?
The insurance market in Lebanon is expected to achieve a CAGR of more than 42% during 2024-2028.
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Which segment dominated the Lebanon insurance market in 2023?
The general insurance segment dominated the Lebanon insurance market in 2023.
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Which are the major companies operating in the Lebanon insurance market?
A few of the key companies in the Lebanon insurance market are Bankers Assurance, Fidelity Assurance & Reinsurance, Mediterranean and Gulf Insurance and Reinsurance, MetLife Alico Lebanon Bancassurance SAL, and others.
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