Lebanon 62nd insurance market in the world
Saturday, 07 15 2017, Category: Insurance and Reinsurance, Country: Lebanon
Lebanon was the 62nd largest insurance market among the largest 88 insurance markets in the world in term of insurance premiums during year 2016 according to the annual publication of Swiss Re. Moreover, Lebanon was the 6th market among 11 Arab markets included in the study. It is worth noting that Lebanon was the 61st market during year 2015. Total insurance premiums in Lebanon reached USD 1.57 billion in year 2016, which is a 3.2% nominal increase. Total Lebanese insurance premiums represent 0.03% of global insurance premiums, 0.3% of emerging markets excluding China and 2.9% of Middle Eastern and Central Asian markets. According to the weekly newsletter of Byblos Bank “Lebanon This Week”, non-life insurance premiums reached USD 1.09 billion in year 2016, which is 61st world rank and 7th Arab rank.