The turnover of the Lebanese insurance market experienced a slight rise in 2015

According to the association of insurance companies in Lebanon (ACAL), the Lebanese insurance market grew by 2.7% in 2015.

The premiums written by insurers went from 1.48 billion USD in 2014 to 1.52 billion USD in 2015.

The production remained dominated by non life insurance which totaled a market share of 69.6% for a premium volume of 1.057 billion USD.

As for life insurance, it showed a 7% increase in their emissions to settle at 462.8 million USD, that is 30.4% of the market underwritings.

Within the classes of business, engineering risks recorded the strongest market growth.
The written premiums on this type of business amounted to 9.9 million USD (+ 31%). In contrast, cargo insurance fell by 22% to settle at 35.4 million USD during the year.

Regarding claims experience, it worsened by 9.1% compared to the previous year, amounting to 823.4 million USD.

In the engineering and life classes of business, the sums borne by insurers deteriorated respectively by 75% and 34%. General third party Liability (-27%), cargo (-18%) and workmens’compensation risks (10%) experienced a different trend with a significant improvement in their incurred losses.

Finally, the motor claims experience remained unchanged in comparison with the previous year.

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