Lebanese insurance market consolidation

Is Lebanese insurance market getting consolidated? According to the Daily Star, four insurance companies could sell their portfolios to larger companies. Although no names were disclosed, observers believe that one case is about to get finalized.

Several factors are pushing toward this trend: stagnation of the local economy, low market development, large number of insurers and customers getting increasingly more demanding. The country has more than fifty companies, ten of which possessing nearly 80% of market shares.