Lebanon – Life premiums increase to USD 471 million in 2015
Monday, 03 14 2016, Category: Insurance and Reinsurance, Country: Lebanon
Growth reached 6.17% and total life insurance premiums written increased to USA 471 million during 2015.
Demand for life and saving contracts decreases during political turmoil. Therefore, this factor decreases the sales of new life insurance contracts.
However, instability and the probability of being affected by explosions and other terrorist attacks push the wealthy to expand the scope of their life insurance contracts in order to cover the death and injury which can be caused by terrorist activities or internal or external fighting.
Offering life insurance contracts, which cover political violence, helps life insurers to secure an additional income that fills the gap brought about by the decreasing purchasing and saving power of most of the citizens.