The Lebanese insurance market: results for 2017

The Lebanese Insurance Control Commission has published the 2017 Insurance Market Report. The companies achieved a turnover of 2 294 billion LBP (1.514 billion USD), down by 3% from the 2 368 billion LBP (1.6 billion USD) achieved in 2016. The life class of business, the market share of which has been growing steadily since 2008, generated 750 billion LBP (495 million USD) in premiums in 2017.

The net profit reached 252 billion LBP (166 million USD), up by 19.7% compared to 2016. Equity also increased to 1 715 billion LBP (1.132 billion USD) against 1 639 billion LBP (1.108 billion USD) a year earlier.

According to the 2017 report, Allianz SNA tops the ranking of the Lebanese insurance market in terms of turnover with 212.2 billion LBP (140 million USD) in premiums. It is followed by ALICO (183.1 billion LBP, 121 million USD), Bankers (178.5 billion LBP, 118 million USD), LIA (174.6 billion LBP, 115 million USD) and AROPE (160.8 billion LBP, 106 million USD).

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