Lebanon – Limited growth of insurance sector in 2015
Friday, 05 27 2016, Category: Insurance and Reinsurance, Country: Lebanon
The insurance sector is one of the sectors which escaped the dreadful paralysis that affected most of the sectors in the country. And it is well known that this sector played a role in boosting economic activity.
The growth rate of the sector in year 2015 reached 3% whereas a 4% to 6% growth rate was expected due to generally the economic situation since insurance is not isolated from the political and security events.
Against this backdrop, the increase in underwritten business is as follows: 5% in life, 3% in motor, 4% in fire and 7% in life.
The decrease was however seen in the marine and inland marine by 22% bearing in mind that the total profits of the sector were USD 126 million.
Source: Al-Ittihad Al-Iktissadi Magazine