Lebanon – Cost of insurance policies increases
Tuesday, 08 30 2016, Category: Insurance and Reinsurance, Country: Lebanon
The cost of health insurance policies in Lebanon keeps increasing given the increase of the average age of the population in the demographic structure of the Lebanese population in addition to inflation and the increase of the cost medical services and pharmaceuticals. However, the motor insurance sector is under the pressure of competition whereas the life insurance sectors enjoys stability.
The insurance sector in Lebanon is still a small market but the cost of insurance policies increases annually given the age increase and the aging of the Lebanese population in addition to inflation and the costs of health services and hospitalization.
Health insurance contracts represent the largest share of the sector i.e. 40% of total policies in the non-life branches.
Source: Lebanon 24