Lebanon – USD 166.44 million insurance profits in 2015
Monday, 01 23 2017, Category: Insurance and Reinsurance, Country: Lebanon
The Insurance Control Commission, which is related to the Ministry of Economy and Trade published its annual report on the Lebanese insurance sector. The report shows that the consolidated annual profits of the sector improved by 15.4% during year 2015 reaching USD 162.44 million compared to USD 140.96 million in year 2014.
Moreover, according the report of Byblos Bank the compound annual growth rate of the profits of the sector reached 23.96% between year 2008 and year 2015. The improvement in profits is due to the increase in written premiums and other revenues, which reached USD 1.52 billion increasing by 3.87%. The share of the five largest companies in the profits of the sector was 58.49%, where ALICO achieved USD 36.39 million followed by Arope with USD 17.06 million and finally LIA achieved USD 15.20 million as profit.
Source: Al Mustaqbal