Lebanon – USD 4 billion insurance investments
Thursday, 10 18 2018, Category: Insurance and Reinsurance, Country: Lebanon
The president of the Lebanese Insurance Association (ACAL) Mr. Max Zaccar told “el iktisad” that the 50 insurance companies operating in Lebanon are all members of ACAL in addition to four international reinsurance companies. These companies like all other economic sectors suffer from the economic pressures facing the Lebanon. However, he considers the situation of the insurance sector to remain favorable as it achieved consistently a 4% annual growth.
Moreover, the Association undertakes all needed projects in collaboration with the Authorities in order to preserve the sector and help him play an effective role in the national economy.
Mr. Zaccar indicates that the insurance premiums in Lebanon reached USD 1.5 billion in 2017 of which USD 1.4 billion or 93% has been repaid as claims to customers and beneficiaries.
This sector invests USD 4 billions in the Lebanese economy.
Source: el iktisad