Based on the data published by Byblos Bank, the 46 licensed insurers in Lebanon have achieved a 12.1% increase in their turnover in H1 2021. Gross written premiums rose from 828.8 million USD in the first half of 2020 to 928.8 million USD a year later.
The Lebanese insurance market [4] is dominated by health class of business with a turnover of 400 million USD, that is to say a market share of 43%.
With 206.3 million USD of premiums, the motor business comes in second position. It represents 22.2% of the total premium income. During the period under review, life premiums reached 183 million USD, declining by 13.7% compared to H1 2020.
Settled claims rose from 499 million USD at the end of June 2020 to 535.4 million USD during the same period of 2021, thus increasing by 7.3%.
The net investment income reached 45.5 million USD as of 30 June 2021.