The Lebanese insurance market: 2009-2013
The Lebanese insurance market features
- Regulatory authority: Ministry of Economy and Trade, Insurance Control Commission (ICC)
- Life and non life premiums (2013): 1 416 million USD
- Insurance density (2013): 329.3 USD
- Penetration rate (2013): 3.08%
The Lebanese insurance market strucutre in 2013
Market actors | Nombre |
---|---|
Life and non life insurance companies | 51 |
Brokerage companies | 306 |
Insurance agents | 1370 |
Other insurance intermediaries | 131 |
Identity
- Area: 10 452 km2
- Population (2013): 4.3 million inhabitants
- GDP (2013): 46 billion USD
- GDP/capita (2013): 10 698 USD
- GDP growth rate (2013): 1.5
- Inflation rate (2013): 5.4%
- Main economic sectors: Breeding and agricultural products, tourism, mining, textile industry, food industry
Main cities
((per number of inhabitants in 2012)
- Beirut (capital): 1 900 000
- Tripoli: 722 572
- Tyre: 234 000
The Lebanese insurance market: Turnover’s evolution per class of business (2009-2013)
in USD2009 | 2010 | 2011 | 2012 | 2013 | 2013 shares | ||
---|---|---|---|---|---|---|---|
Non life insurance | |||||||
Fire | 63 490 886 | 69 216 938 | 78 743 651 | 88 123 055 | 98 823 285 | 7% | |
Marine | 27 573 987 | 32 696 780 | 35 378 911 | 43 834 142 | 44 732 779 | 3.2% | |
Motor | 284 494 893 | 311 502 647 | 316 966 274 | 319 044 492 | 326 869 126 | 23.1% | |
Health | 256 595 774 | 296 644 049 | 340 700 948 | 364 661 599 | 406 829 609 | 28.7% | |
Accident (1) | 48 287 149 | 59 611 136 | 67 011 777 | 72 673 548 | 72 581 080 | 5.1% | |
Miscellaneous risks(2) | 24 461 746 | 24 544 567 | 22 448 096 | 22 093 369 | 25 819 350 | 1.8% | |
Others (3) | 22 411 970 | 21 564 540 | 24 080 817 | 28 377 747 | 31 656 272 | 2.2% | |
Total non life | 727 316 405 | 815 780 657 | 885 330 474 | 938 807 952 | 1 007 311 501 | 71.1% | |
Life insurance | |||||||
Life | 85 194 602 | 108 555 648 | 116 597 389 | 133 477 863 | 156 970 243 | 11.1% | |
Savings | 118 261 229 | 113 738 723 | 147 496 928 | 129 907 033 | 134 021 694 | 9.5% | |
Capitalisation | 93 402 414 | 113 747 491 | 100 231 382 | 116 910 363 | 117 695 201 | 8.3% | |
Total life | 296 858 245 | 336 041 862 | 364 325 699 | 380 295 259 | 408 687 138 | 28.9% | |
Grand total | 1 024 174 650 | 1 151 822 519 | 1 249 656 173 | 1 319 103 211 | 1 415 998 639 | 100% |
(2) including theft class of business
(3) including third party liability, engineering and credit insurance
The Lebanese insurance market: Evolution of paid losses per life and non life class of business (2009-2013)
in USD2009 | 2010 | 2011 | 2012 | 2013 | 2013 shares | ||
---|---|---|---|---|---|---|---|
Non life insurance | |||||||
Fire | 14 135 440 | 15 522 410 | 55 128 157 | 26 863 274 | 40 715 932 | 5.5% | |
Marine | 8 957 539 | 22 119 328 | 14 378 844 | 8 861 493 | 9 075 539 | 1.2% | |
Motor | 126 241 725 | 151 235 168 | 158 150 433 | 174 460 476 | 180 786 618 | 24.6% | |
Health | 177 168 361 | 202 103 282 | 228 329 639 | 255 305 180 | 285 244 850 | 38.9% | |
Accident (1) | 17 482 173 | 22 313 701 | 24 546 003 | 28 170 177 | 29 808 585 | 4.1% | |
Miscellaneous risks (2) | 5 215 028 | 8 629 460 | 5 456 568 | 4 926 012 | 4 149 470 | 0.5% | |
Others (3) | 5 867 236 | 4 770 519 | 7 312 859 | 6 799 766 | 7 488 344 | 1% | |
Total non life | 355 067 502 | 426 693 868 | 493 302 503 | 505 386 378 | 557 269 338 | 75.9% | |
Life insurance | |||||||
Life | 17 399 344 | 19 868 256 | 18 739 858 | 21 133 923 | 21 978 011 | 3% | |
Savings | 88 771 951 | 37 229 763 | 44 172 340 | 59 432 192 | 58 066 916 | 7.9% | |
Capitalisation | - | 19 761 380 | 52 198 155 | 76 713 703 | 96 530 425 | 13.2% | |
Total life | 106 171 295 | 76 859 399 | 115 110 353 | 157 279 818 | 176 575 352 | 24.1% | |
Grand total | 461 238 797 | 503 553 267 | 608 412 856 | 662 666 196 | 733 844 690 | 100% |
(2) including theft class of business
(3) including third party liability, engineering and credit insurance
The Lebanese insurance market: turnover’s evolution per life and non life company (2009-2013)
in USD2009 | 2010 | 2011 | 2012 | 2013 | 2012/2013 evolution | 2013 shares | |
---|---|---|---|---|---|---|---|
Medgulf | 122 562 232 | 118 194 922 | 124 532 257 | 119 753 017 | 135 022 897 | 12.8% | 9.5% |
Allianz SNA | 85 135 340 | 97 938 240 | 100 052 844 | 103 680 042 | 110 697 510 | 6.8% | 7.8% |
ALICO - Metlife | 87 157 010 | 93 403 615 | 97 106 733 | 101 441 058 | 103 345 939 | 1.9% | 7.3% |
AXA M.E. | 49 859 323 | 56 851 122 | 78 165 628 | 85 126 763 | 102 144 026 | 20% | 7.2% |
Arope | 80 185 707 | 90 735 223 | 90 957 338 | 92 904 837 | 98 007 459 | 5.5% | 6.9% |
Bankers | 70 675 930 | 80 894 405 | 83 838 877 | 89 789 347 | 95 945 826 | 6.9% | 6.8% |
LIA (Libano-Arabe) | 57 807 395 | 56 117 705 | 81 357 222 | 81 224 644 | 88 475 836 | 8.9% | 6.2% |
Libano-Suisse | 43 998 131 | 54 148 024 | 59 222 304 | 68 785 031 | 68 811 587 | 0.04% | 4.9% |
Fidelity | 36 728 066 | 44 316 636 | 51 705 402 | 54 333 645 | 60 946 787 | 12.2% | 4.3% |
Bancassurance | 34 766 669 | 37 437 463 | 42 160 201 | 47 035 497 | 54 154 614 | 15.1% | 3.8% |
Adonis (ADIR) | 47 059 390 | 40 604 675 | 44 701 283 | 50 480 684 | 53 505 176 | 6% | 3.8% |
Al-Mashrek | 23 171 456 | 27 717 415 | 31 107 727 | 35 257 005 | 39 451 264 | 11.9% | 2.8% |
Assurex | 24 602 089 | 26 358 762 | 28 841 171 | 29 720 584 | 31 134 950 | 4.8% | 2.2% |
Arabia | 13 164 911 | 40 663 229 | 28 114 283 | 31 046 559 | 25 188 848 | -18.9% | 1.8% |
Security | 19 036 802 | 23 055 678 | 28 763 451 | 30 189 674 | 24 663 069 | -18.3% | 1.7% |
ALIG | 14 422 670 | 17 278 984 | 16 210 952 | 17 802 619 | 22 984 966 | 29.1% | 1.6% |
Cumberland | 20 552 868 | 22 375 160 | 22 280 269 | 21 163 437 | 22 436 391 | 6% | 1.6% |
Fajr el-khaleej | 11 570 322 | 11 275 837 | 15 055 744 | 16 718 306 | 20 895 183 | 25% | 1.5% |
Capital | 12 328 763 | 15 849 774 | 15 698 009 | 17 721 440 | 20 829 457 | 17.5% | 1.5% |
Crédit Libanais | 22 048 556 | 24 414 033 | 19 798 785 | 18 289 736 | 20 412 529 | 11.6% | 1.5% |
Total (1) | 875 833 630 | 979 630 902 | 1 059 670 480 | 1 112 463 925 | 1 199 054 314 | 7.8% | 84.7% |
Rest of the market (2) | 148 341 020 | 172 191 617 | 189 985 693 | 206 639 286 | 216 944 325 | 5% | 7.3% |
Grand total | 1 024 174 650 | 1 151 822 519 | 1 249 656 173 | 1 319 103 211 | 1 415 998 639 | 7.3% | 100% |
(2) 31 companies
The Lebanese insurance market: Incurred losses net of reinsurance in 2013
in USDFire | Marine | Motor | Health | Others | Total non life | |
---|---|---|---|---|---|---|
Medgulf | 433 633 | 55 302 | 13 718 046 | 83 218 182 | 3 134 009 | 100 559 172 |
Allianz SNA | 300 827 | 84 703 | 7 295 185 | 17 819 760 | 1 916 811 | 27 417 286 |
ALICO - Metlife | - | - | - | 5 464 670 | 2 728 517 | 8 193 187 |
AXA M.E. | 452 218 | 1 008 510 | 9 196 017 | 28 907 292 | 1 770 249 | 41 334 286 |
Arope | 584 637 | 55 701 | 18 399 965 | 1 724 373 | 1 707 335 | 22 472 011 |
Bankers | - 44 354 | 51 797 | 12 196 364 | 23 282 929 | 1 286 065 | 36 772 801 |
LIA (Libano-Arabe) | 15 866 | 69 124 | 9 566 337 | 1 627 028 | 2 092 081 | 13 370 436 |
Libano-Suisse | 128 750 | 70 186 | 13 818 879 | 10 650 954 | 1 218 175 | 25 886 944 |
Fidelity | 110 934 | 57 424 | 9 244 652 | 17 740 607 | 1 937 176 | 29 090 793 |
Bancassurance (1) | - | - | - | - | - | - |
Adonis (ADIR) | 214 727 | 33 975 | 8 038 535 | 222 691 | 868 669 | 9 378 597 |
Al-Mashrek | 72 571 | 482 583 | 12 040 070 | 5 477 274 | 2 228 174 | 20 300 672 |
Assurex | 282 374 | 203 965 | 5 977 165 | 2 427 743 | 1 115 218 | 10 006 465 |
Arabia | 127 128 | - 17 020 | 13 116 928 | 2 928 759 | 3 508 905 | 19 664 700 |
Security | 90 798 | 94 271 | 10 088 846 | 3 135 755 | 1 042 246 | 14 451 916 |
ALIG | 190 564 | 790 701 | 3 429 347 | 2 630 285 | 808 417 | 7 849 314 |
Cumberland | 3 676 | - 189 | 2 112 223 | 3 925 537 | 442 849 | 6 484 096 |
Fajr el-khaleej | - 1 310 | 23 683 | 4 924 692 | 1 052 320 | 430 634 | 6 430 019 |
Capital | 505 341 | 336 253 | 4 795 151 | 536 302 | 1 292 014 | 7 465 061 |
Crédit Libanais | -120 945 | - 2 628 | 2 242 051 | 122 904 | - 17 179 | 2 223 203 |
Total (2) | 3 347 435 | 3 398 341 | 160 200 453 | 212 894 365 | 29 510 365 | 409 350 959 |
Rest of the market (3) | 799 418 | 2 209 003 | 39 056 786 | 21 403 698 | 7 695 124 | 71 164 029 |
Grand total | 4 146 853 | 5 607 344 | 199 257 239 | 234 298 063 | 37 205 489 | 480 514 988 |
(2) total of the top twenty companies
(3) 31 companies
The Lebanese insurance market: Earned premiums net of reinsurance in 2013
in USDFire | Marine | Motor | Health | Others | Total non life | |
---|---|---|---|---|---|---|
Medgulf | 2 266 505 | 483 496 | 17 613 300 | 86 205 005 | 5 333 981 | 111 902 287 |
Allianz SNA | 3 037 688 | 410 255 | 13 433 393 | 24 044 269 | 5 784 770 | 46 710 375 |
ALICO - Metlife | - | - | - | 8 077 343 | 16 093 283 | 24 170 626 |
AXA M.E. | 4 927 296 | 3 021 409 | 13 867 739 | 44 046 906 | 4 945 792 | 70 809 142 |
Arope | 2 242 771 | 894 500 | 34 129 843 | 4 185 323 | 2 795 996 | 44 248 433 |
Bankers | 3 667 302 | 944 169 | 21 684 777 | 40 178 662 | 4 187 777 | 70 662 687 |
LIA (Libano-Arabe) | 2 826 984 | 1 355 782 | 13 356 008 | 4 231 533 | 7 806 863 | 29 577 170 |
Libano-Suisse | 1 310 082 | 717 636 | 25 781 690 | 18 910 653 | 2 706 905 | 49 426 966 |
Fidelity | 1 208 348 | 720 372 | 16 070 067 | 26 738 118 | 5 660 445 | 50 397 350 |
Bancassurance (1) | - | - | - | - | - | - |
Adonis (ADIR) | 1 797 838 | 343 116 | 11 676 247 | 552 350 | 1 512 051 | 15 881 602 |
Al-Mashrek | 1 772 417 | 446 539 | 16 789 072 | 7 762 484 | 4 509 604 | 31 280 116 |
Assurex | 1 931 080 | 996 553 | 15 244 699 | 5 604 586 | 2 817 198 | 26 594 116 |
Arabia | 2 733 354 | 552 685 | 14 771 164 | 3 690 269 | 3 158 198 | 24 905 670 |
Security | 628 991 | 621 980 | 14 370 031 | 5 273 500 | 1 426 172 | 22 320 674 |
ALIG | 979 961 | 1 680 048 | 6 518 359 | 5 837 065 | 1 524 162 | 16 539 595 |
Cumberland | 350 461 | 40 522 | 3 083 765 | 8 491 075 | 722 997 | 12 688 820 |
Fajr el-khaleej | 1 727 286 | 684 136 | 6 645 147 | 1 786 079 | 1 973 008 | 12 815 656 |
Capital | 569 684 | 362 316 | 8 314 022 | 2 087 804 | 1 212 981 | 12 546 807 |
Crédit Libanais | 695 433 | 66 315 | 4 385 118 | 120 426 | 757 845 | 6 025 137 |
Total (2) | 34 673 481 | 14 341 829 | 257 734 441 | 297 823 450 | 74 930 028 | 679 503 229 |
Rest of the market (2) | 9 932 617 | 11 537 917 | 59 356 361 | 34 692 406 | 19 379 647 | 134 898 948 |
Grand total | 44 606 098 | 25 879 746 | 317 090 802 | 332 515 856 | 94 309 675 | 814 402 177 |
(2) total of the top twenty companies
(3) 31 companies
The Lebanese insurance market: Loss ratios net of reinsurance in 2013
Fire | Marine | Motor | Health | Others | Total non life | |
---|---|---|---|---|---|---|
Medgulf | 19.1% | 11.4% | 77.9% | 96.5% | 58.8% | 89.9% |
Allianz SNA | 9.9% | 20.6% | 54.3% | 74.1% | 33.1% | 58.7% |
ALICO - Metlife | - | - | - | 67.7% | 17% | 33.9% |
AXA M.E. | 9.2% | 33.4% | 66.3% | 65.6% | 35.8% | 58.4% |
Arope | 26.1% | 6.2% | 53.9% | 41.2% | 61.1% | 50.8% |
Bankers | 1.2% | 5.5% | 56.2% | 57.9% | 30.7% | 52% |
LIA (Libano-Arabe) | 0.6% | 5.1% | 71.6% | 38.5% | 26.8% | 45.2% |
Libano-Suisse | 9.8% | 9.8% | 53.6% | 56.3% | 45% | 52.4% |
Fidelity | 9.2% | 8% | 57.5% | 66.3% | 34.2% | 57.7% |
Bancassurance (1) | - | - | - | - | - | - |
Adonis (ADIR) | 11.9% | 9.9% | 68.8% | 40.3% | 57.4% | 59.1% |
Al-Mashrek | 4.1% | 108.1% | 71.7% | 70.6% | 49.4% | 64.9% |
Assurex | 14.6% | 20.5% | 39.2% | 43.3% | 39.6% | 37.6% |
Arabia | 4.7% | -3.1% | 88.8% | 79.4% | 111.1% | 79% |
Security | 14.4% | 15.2% | 70.2% | 59.5% | 73.1% | 64.7% |
ALIG | 19.4% | 47.1% | 52.6% | 45.1% | 53% | 47.5% |
Cumberland | 1% | 0.5% | 68.5% | 46.2% | 61.3% | 51.1% |
Fajr el-khaleej | 29.3% | 49.2% | 72.2% | 30% | 65.5% | 58.2% |
Capital | 0.2% | 6.5% | 59.2% | 50.4% | 35.5% | 51.2% |
Crédit Libanais | 17.4% | 4% | 51.1% | 101.2% | 2.3% | 36.9% |
Total (2) | 9.7% | 23.7% | 62.2% | 71.5% | 39.4% | 60.2% |
Rest of the market(3) | 8% | 19.1% | 65.8% | 61.7% | 39.7% | 52.8% |
Grand total | 9.3% | 21.7% | 62.8% | 70.5% | 39.5% | 59% |
(2) total of the top twenty companies
(3) 31 companies Source: Sigma, Ministry of Economy and Trade, Insurance Control Commission (ICC)
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