Life Insurance in Lebanon, Key Trends and Opportunities to 2020

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

GlobalData’s 'Life Insurance in Lebanon, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Lebanese life insurance segment, and a comparison of the Lebanese insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Lebanese 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.

Scope

This report provides a comprehensive analysis of the life insurance segment in Lebanon:

• It provides historical values for the Lebanese life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Lebanese life insurance segment, and market forecasts to 2020.

• It provides a comparison of the Lebanese life insurance segment with its regional counterparts

• It analyzes the various distribution channels for life insurance products in Lebanon.

• It profiles the top life insurance companies in Lebanon and outlines the key regulations affecting them.

Key Highlights

• In 2016, Bancassurance SAL launched a new retirement plan to target the aging population.

• Allianz SNA SAL provides the Jana retirement saving plan, in collaboration with BBAC Bank.

• In 2016, Arope Insurance announced a strategic partnership with BoB Finance, in collaboration with Beirut Brokers.

• As of 2015, life insurers must have a minimum paid-up capital of LBP2.3 billion (US$1.5 million) to operate in Lebanon.

• The civil war in Syria negatively affected the Lebanese economy and insurance industry during the review period.

• In 2015, the Insurance Control Commission (ICC) initiated the provision of soft loans as incentives to encourage mergers and acquisitions.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Lebanese life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Lebanese life insurance segment.

• Assess the competitive dynamics in the life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Lebanese insurance industry, and their impact on companies and the industry's future.

MetLife Alico Lebanon
Bancassurance SAL
Allianz SNA (Société Nationale d’Assurances)
Adonis Insurance and Reinsurance Company
LIA Insurance SAL
Arope Insurance
Sogecap SA
The Mediterranean & Gulf Insurance & Reinsurance Co. SAL
Axa Middle East
Bankers Assurance

Table of Contents

1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 SEGMENT OUTLOOK

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Assets and investments

5 OUTLOOK

5.1 Individual Life Insurance

5.1.1 Premium

5.1.2 Penetration

6 DISTRIBUTION CHANNEL OUTLOOK

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

7.1.1 MetLife Alico Lebanon – company overview

7.1.2 Bancassurance SAL – company overview

7.1.3 Allianz SNA SAL – company overview

7.1.4 Adonis Insurance and Reinsurance Co. SAL – company overview

7.1.5 LIA Insurance SAL – company overview

8 GOVERNANCE, RISK AND COMPLIANCE

8.1 Legislation Overview and Historical Evolution

8.2 Latest Changes in Regulation

8.3 Legislation and Market Practice by Type of Insurance

8.3.1 Life insurance

8.3.2 Property insurance

8.3.3 Motor insurance

8.3.4 Liability insurance

8.3.5 Marine, aviation and transit insurance

8.3.6 Personal accident and health insurance

8.4 Compulsory Insurance

8.4.1 Motor third-party liability insurance (bodily injury only)

8.4.2 Work injury cover scheme

8.4.3 Universal health cover scheme

8.4.4 Liability for ship owners in respect of oil pollution

8.5 Supervision and Control

8.5.1 International Association of Insurance Supervisors

8.5.2 Insurance Control Commission

8.5.3 Association des Compagnies d'Assurances au Liban

8.6 Non-Admitted Insurance Regulations

8.6.1 Overview

8.6.2 Intermediaries

8.6.3 Market practices

8.6.4 Fines and Penalties

8.7 Company Registration and Operations

8.7.1 Type of insurance organization

8.7.2 Establishing a local company

8.7.3 Foreign ownership

8.7.4 Types of license

8.7.5 Capital requirements

8.7.6 Solvency margin

8.7.7 Reserve requirements

8.7.8 Investment regulations

8.7.9 Statutory return requirements

8.7.10 Fee structure

8.8 Taxation

8.8.1 Insurance premium or policy taxation

8.8.2 Withholding taxes on premium paid overseas

8.8.3 Corporate tax

8.8.4 VAT

8.8.5 Captives

8.9 Legal System

8.9.1 Introduction

8.9.2 Access to court

8.9.3 Alternative dispute resolution

9 DATABOOK

9.1 Policies and Premium

9.2 Claims and Expenses

9.3 Assets and Investments

9.4 Individual Life Insurance

9.5 Individual Life Insurance by Product

9.6 Linked vs Non-Linked Policies

10 DEFINITIONS AND METHODOLOGY

10.1 Definitions

10.2 Methodology

11 ABOUT TIMETRIC

11.1 Contact GlobalData

11.2 About GlobalData

11.3 GlobalData’s Services

11.4 Disclaimer

Table

Table 1: Lebanese Life Insurance – Key Facts, 2015

Table 2: Lebanese Life Insurance – Segment Shares of the Top Insurers, 2015

Table 3: Lebanese Government Credit Ratings

Table 3: Lebanese Life Insurance – Gross Written Premium (LBP Billion and US$ Billion), 2011–2015

Table 4: Lebanese Life Insurance – Penetration (%), 2011–2015

Table 5: Lebanese Life Insurance – Gross Written Premium (LBP Billion and US$ Billion), 2015–2020

Table 6: Lebanese Life Insurance – Penetration (%), 2015–2020

Table 7: Lebanese Life Insurance – Premium per Capita (LBP and US$), 2011–2015

Table 8: Lebanese Life Insurance – Premium per Capita (LBP and US$), 2015–2020

Table 9: Lebanese Life Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 10: Lebanese Life Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 11: Lebanese Life Insurance – Paid Claims (LBP Billion and US$ Billion), 2011–2015

Table 12: Lebanese Life Insurance – Paid Claims (LBP Billion and US$ Billion), 2015–2020

Table 13: Lebanese Life Insurance – Total Assets (LBP Billion and US$ Billion), 2011–2015

Table 14: Lebanese Life Insurance – Total Assets (LBP Billion and US$ Billion), 2015–2020

Table 15: Lebanese Life Insurance – Total Investment Income (LBP Billion and US$ Billion), 2011–2015

Table 16: Lebanese Life Insurance – Total Investment Income (LBP Billion and US$ Billion), 2015–2020

Table 17: Lebanese Life Insurance – Investment Portfolio (LBP Billion), 2011–2015

Table 18: Lebanese Life Insurance – Investment Portfolio (LBP Billion), 2015–2020

Table 19: Lebanese Individual Life Insurance – Direct Written Premium by Category (LBP Billion), 2011–2015

Table 20: Lebanese Individual Life Insurance – Direct Written Premium by Category (LBP Billion), 2015–2020

Table 21: Lebanese Life Insurance – Segment Shares of the Leading Insurers (%), 2015

Table 22: MetLife Alico Lebanon – Key Facts

Table 23: Bancassurance SAL – Key Facts

Table 24: Allianz SNA SAL – Key Facts

Table 25: Adonis Insurance and Reinsurance Co. SAL – Key Facts

Table 26: LIA Insurance SAL – Key Facts

Table 2: Lebanon – Insurance Regulatory Framework Key Features

Table 3: Lebanon – Life Insurance Regulatory Framework

Table 4: Lebanon – Property Insurance Regulatory Framework

Table 5: Lebanon – Motor Insurance Regulatory Framework

Table 6: Lebanon – Liability Insurance Regulatory Framework

Table 7: Lebanon – Third-Party Liability Cover Limits

Table 8: Lebanon – Amendment of Deemed Profit Rates

Table 9: Lebanon – Corporate Tax Rates for the Financial Year 2017

Table 27: Lebanese Life Insurance – Policies and Premium, 2011–2015

Table 28: Lebanese Life Insurance – Policies and Premium, 2015–2020

Table 29: Lebanese Life Insurance – Claims and Expenses, 2011–2015

Table 30: Lebanese Life Insurance – Claims and Expenses, 2015–2020

Table 31: Lebanese Life Insurance – Assets and Investments, 2011–2015

Table 32: Lebanese Life Insurance – Assets and Investments, 2015–2020

Table 33: Lebanese Life Insurance – Individual Life Insurance, 2011–2015

Table 34: Lebanese Life Insurance – Individual Life Insurance, 2015–2020

Table 35: Lebanese Life Insurance – Individual Life Insurance by Product, 2011–2015

Table 36: Lebanese Life Insurance – Individual Life Insurance by Product, 2015–2020

Table 37: Lebanese Life Insurance – Linked vs Non-Linked Policies, 2011–2015

Table 38: Lebanese Life Insurance – Linked vs Non-Linked Policies, 2015–2020

Table 39: Insurance Industry Definitions

Figures

Figure 1: Lebanese Real GDP (LBP Trillion), and Annual Growth (%) 2011–2020

Figure 2: Lebanese Consumer Price Inflation (%), 2011–2020

Figure 3: Lebanese Current Account Balance as Percentage of GDP (%), 2011–2015

Figure 4: Lebanese Unemployment Rate, 2011–2020

Figure 5: Lebanese Population by Age Group, 1991–2025

Figure 6: Lebanese Life Insurance Penetration – Regional Comparison (%), 2015

Figure 7: Lebanese Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015

Figure 8: Lebanese Life Insurance – Gross Written Premium (LBP Billion), 2011–2020

Figure 9: Lebanese Life Insurance – Penetration (%), 2011–2020

Figure 10: Lebanese Life Insurance – Premium per Capita (LBP), 2011–2020

Figure 11: Lebanese Life Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 12: Lebanese Life Insurance – Paid Claims (LBP Billion), 2011–2020

Figure 13: Lebanese Life Insurance – Total Assets (LBP Billion), 2011–2020

Figure 14: Lebanese Life Insurance – Total Investment Income (LBP Billion), 2011–2020

Figure 15: Lebanese Life Insurance – Investment Portfolio (LBP Billion), 2011–2020

Figure 16: Lebanese Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020

Figure 17: Lebanese Individual Life Insurance – Direct Written Premium by Category (LBP Billion), 2011–2020

Figure 18: Lebanese Individual Life Insurance – Direct Written Premium Share by Category, 2011–2020

Figure 19: Lebanese Individual Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020

Figure 20: Lebanese Individual Life Insurance – Penetration (%), 2011–2015

Figure 21: Lebanese Individual Life Insurance – Penetration (%), 2015–2020

Figure 22: Lebanese Life Insurance – Segment Shares of the Leading Insurers (%), 2015

Figure 23: Lebanon – Insurance Supervision and Control at Various Levels

Figure 24: Lebanon – Insurance Regulatory Frameworks for Company Registration and Operation

Frequently asked questions

Life Insurance in Lebanon, Key Trends and Opportunities to 2020 thematic reports
Currency USD
$1,450

Can be used by individual purchaser only

$4,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Life Insurance in Lebanon, Key Trends and Opportunities to 2020 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
New
Hong Kong (China SAR) Retail Banking Analysis by Consumer Profiles,…
$5,250 | February 2024
Financial Services
New
Ukraine PESTLE Insights - A Macroeconomic Outlook Report
$500 | February 2024
Financial Services
New
Hungary PESTLE Insights - A Macroeconomic Outlook Report
$500 | February 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Life Insurance in Lebanon, Key Trends and Opportunities to 2020 in real time.

  • Access a live Life Insurance in Lebanon, Key Trends and Opportunities to 2020 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.