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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Lebanese non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Lebanon's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Lebanon non-life (P&C) market as well as trends by line of business. Axco analysts also report on Lebanon's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Lebanese insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Lebanon, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Lebanon, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Lebanon with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
It is difficult to determine the current size of the Libyan insurance market and how it is developing due to the lack of recent insurance market statistics as a result of Libya's ongoing civil war. The most recently available figures are for 2012 when non-life premiums were LYD 219.13mn (USD 155.41mn). Market sources indicate that the market has most likely contracted since 2012.
Libya's economy has been severely impacted by the ongoing civil war and the consequences of COVID-19 ....
This is a brief extract of information; more updated information may be available in the latest published report.