Lebanon: Non life insurance is progressing by 22%

The Lebanese insurers, who generated a turnover of 590.5 million USD in 2008, are closing the year 2009 with a 22% progression driving the premiums volume to 720 million USD.

Medgulf remains at the top of the ranking per company with premiums worth 94.1 million USD followed by Bankers (67.5 million USD), Arope (47.8 million), Axa Middle East (46.9 million USD), Allianz SNA (46.1 million USD). The first five local insurers detain 42% of the market shares in 2009.

Motor insurance has become the most important insurance category in Lebanon, pushing lifeinsurance down to the second position.