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According to Max Zaccar, chairman of the association of Lebanese insurance companies (ACAL), the Lebanese market grew by 3% to 4% in 2015. With nearly 6%, the increase in the turnover was even more noticeable in the course of the first quarter. It then lost momentum falling down to 1% in the second quarter.
All classes of business have benefited from this upturn supported by sound economy. The strong competition between insurance companies has nonetheless slowed down the initially expected increase.
Eventually, the progression of the insurance market in 2015 is more or less comparable to that of 2014 which amounted to 4.6% with a turnover of 1.5 billion USD.
