Insurance Companies in Lebanon | List of Largest Insurers
View the largest insurance companies in Lebanon. The statistics for the insurance market in Lebanon in the first quarter of 2012 are mirroring the uncertainty and instability in the region and global (economic) challenges. The insurance companies in Lebanon were hard hit due to this currently unstable environment.
Top Insurance Companies in Lebanon
The statistics for the insurance market in Lebanon in the first quarter of 2012 are mirroring the uncertainty and instability in the region and global (economic) challenges. The insurance companies in Lebanon were hard hit due to this currently unstable environment.
Insurance premiums increased by 4%, thereby reaching USD 317.6MM according to the latest report issued by the Association of Insurance Companies in Lebanon (ACAL). The recorded increase may be caused by an increase in hospitalization costs in Lebanon.
The insurance sector payed out to beneficiaries almost USD 142MM, which is 11% more than during the same period last year.
The report also states the the medical and motor claims represented majority – more than USD 103 MM of the total amount of indemnities/benefits (USD 142MM).
The Lebanese insurance companies signed only 714,215 insurance contracts – a 13% decline in comparison to the first quarter of 2011.
List of the top pioneers in the insurance sector of Lebanon.
Association of Insurance Companies in Lebanon
MEDGULF
Arabia Insurance Company
Allianz SNA
Libano Suisse
MetLife Alico
Al-Ittihad Al-Watani (L’Union Nationale)
Bankers Assurance
Arope Insurance
LIA insurance (Libano Arabe sal)
AXA ME
Credit Libanais d’Assurances et de Réassurances (CLA)
Adir Insurance
Fidelity
AL MASHREK
Commercial Insurance Cumberland
Picture credit: Commercial Insurance