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Life insurance in Lebanon, Key Trends and Opportunities to 2019

Published: Apr 29, 2016 | Pages: 128 | Publisher: Timetric | Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Life insurance in Lebanon, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Lebanese life insurance segment. it provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Lebanese economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure. Summary
Timetric's 'Life insurance in Lebanon, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Lebanese life insurance segment, including: The Lebanese life insurance segment's growth prospects by life insurance category Key trends, drivers and challenges for the life insurance segment A comprehensive overview of the Lebanese economy and demographics The various distribution channels in the Lebanese life insurance segment Details of the competitive landscape in the life insurance segment in Lebanon Details of regulatory policy applicable to the Lebanese insurance industry Scope
This report provides a comprehensive analysis of the life insurance segment in Lebanon: it provides historical values for the Lebanese life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period. it offers a detailed analysis of the key categories in the Lebanese life insurance segment, and market forecasts to 2019. it analyzes the various distribution channels for life insurance products in Lebanon. it profiles the top life insurance companies in Lebanon and outlines the key regulations affecting them. Reasons To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the Lebanese life insurance segment, and each category within it. Understand the demand-side dynamics, key market trends and growth opportunities in the Lebanese life insurance segment. Assess the competitive dynamics in the life insurance segment. identify growth opportunities and market dynamics in key product categories. Gain insights into key regulations governing the Lebanese insurance industry, and their impact on companies and the industry's future. Key Highlights
Life insurance was the smallest segment in the Lebanese insurance industry in 2014, and accounted for 28.9% of the industry's total gross written premium. Lebanon's life insurance penetration decreased from 0.88% in 2010 to 0.85% in 2014, for various reasons, including political violence in the country and the emergence of takaful insurance. The life segment was driven by demand for traditional products during the review period. in addition to underwriting profits, Lebanese life insurers are focusing on generating investment returns, aided by sustainable economic growth. Despite having the highest insurance penetration in the Middle east and North Africa in 2014, many Lebanese people still do not have any kind of life insurance product, due to lack of awareness. The segment is highly consolidated, with the 10 leading life insurers together accounting for 85.4% of the life gross written premium in 2014.
 Table of Content
1 Key Facts and Highlights 2 executive Summary 3 economy and Demographics 4 Life insurance Outlook 4.1 Key Drivers 4.2 Key Trends 4.3 Challenges 4.4 Life insurance Growth Prospects by Category 4.5 individual Life insurance 4.5.1 individual endowment insurance 4.5.2 individual term life insurance 4.5.3 Other individual life insurance 4.6 Life insurance Growth Prospects by Product Type 4.6.1 Total linked insurance business 4.6.2 Total non-linked insurance business 5 Analysis by Distribution Channel 6 Competitive Landscape and Strategic insights 6.1 Overview 6.2 Leading Companies in the Lebanese Life insurance Segment 6.2.1 Metlife Alico - company overview 6.2.2 Bancassurance SAL - company overview 6.2.3 Allianz SNA SAL - company overview 6.2.4 Arope insurance SAL - company overview 6.2.5 LiA insurance SAL - company overview 6.2.6 Adonis insurance and Reinsurance Co. SAL (ADiR) - company overview 6.2.7 Sogecap Liban SAL - company overview 6.2.8 Credit Libanais SAL - company overview 6.2.9 Axa Me SAL - company overview 6.2.10 Bankers Assurance SAL - company overview 7 Governance, Risk and Compliance 7.1 Legislation Overview and Historical evolution 7.2 Latest Changes in Regulations 7.3 Legislation and market practice by Type of insurance 7.3.1 Life insurance 7.3.2 Property insurance 7.3.3 Motor insurance 7.3.4 Liability insurance 7.3.5 Marine, aviation and transit insurance 7.3.6 Personal accident and health insurance 7.4 Compulsory insurance 7.4.1 Motor third-party liability insurance (bodily injury only) 7.4.2 Work injury coverage scheme 7.4.3 Universal health coverage scheme 7.5 Supervision and Control 7.5.1 international Association of insurance Supervisors (iAiS) 7.5.2 insurance Control Commission 7.5.3 Association des Compagnies d'Assurances au Liban (ACAL) 7.6 Non-Admitted insurance Regulations 7.6.1 Overview 7.6.2 intermediaries 7.6.3 Market practices 7.6.4 Fines and penalties 7.7 Company Registration and Operations 7.7.1 Types of insurance organization 7.7.2 establishing a local company 7.7.3 Foreign ownership 7.7.4 Types of license 7.7.5 Capital requirements 7.7.6 Solvency margins 7.7.7 Reserve requirements 7.7.8 investment regulations 7.7.9 Statutory return requirements 7.7.10 Fee structure 7.8 Taxation 7.8.1 insurance premium or policy taxation 7.8.2 Corporate tax 7.8.3 VAT 7.8.4 Captives 7.9 Legal System 7.9.1 introduction 7.9.2 Access to court 7.9.3 Alternative dispute resolution (ADR) 8 Definitions and Methodology 8.1 Definitions 8.2 Methodology 9 About Timetric 9.1 Contact Timetric 9.2 About Timetric 9.3 Timetric's Services 9.4 Disclaimer
List of Tables
Table 1: Lebanon Life insurance - Key Facts, 2014 Table 2: Lebanese Life insurance - Segment Shares of the Top insurers, 2014 Table 3:Lebanese Government Credit Ratings Table 4: Lebanese Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2014 Table 5: Lebanese Life insurance - Gross Written Premium by Category (US$ Million), 2010-2014 Table 6: Lebanese Life insurance - Gross Written Premium by Category (LBP Billion), 2014-2019 Table 7: Lebanese Life insurance - Gross Written Premium by Category (US$ Million), 2014-2019 Table 8: Lebanese Life insurance - Net earned Premium (LBP Billion), 2010-2014 Table 9: Lebanese Life insurance - Net earned Premium (LBP Billion), 2014-2019 Table 10: Lebanese Life insurance - Paid Claims (LBP Billion), 2010-2014 Table 11: Lebanese Life insurance - Paid Claims (LBP Billion), 2014-2019 Table 12: Lebanese Life insurance - incurred Loss (LBP Billion), 2010-2014 Table 13: Lebanese Life insurance - incurred Loss (LBP Billion), 2014-2019 Table 14: Lebanese Life insurance - Number of Policies per Capita, 2010-2014 Table 15: Lebanese Life insurance - Number of Policies per Capita, 2014-2019 Table 16: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2010-2014 Table 17: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2014-2019 Table 18: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014 Table 19: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019 Table 20: Lebanese Life insurance - Total Assets (LBP Trillion), 2010-2014 Table 21: Lebanese Life insurance - Total Assets (LBP Trillion), 2014-2019 Table 22: Lebanese Life insurance - Total investment income (LBP Billion), 2010-2014 Table 23: Lebanese Life insurance - Total investment income (LBP Billion), 2014-2019 Table 24: Lebanese Life insurance - Net Written Premium (LBP Billion), 2010-2014 Table 25: Lebanese Life insurance - Net Written Premium (LBP Billion), 2014-2019 Table 26: Lebanese individual Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2014 Table 27: Lebanese individual Life insurance - Gross Written Premium by Category (US$ Million), 2010-2014 Table 28: Lebanese individual Life insurance - Gross Written Premium by Category (LBP Billion), 2014-2019 Table 29: Lebanese individual Life insurance - Gross Written Premium by Category (US$ Million), 2014-2019 Table 30: Lebanese individual Life insurance - Direct Written Premium by Category (LBP Billion), 2010-2014 Table 31: Lebanese individual Life insurance - Direct Written Premium by Category (US$ Million), 2010-2014 Table 32: Lebanese individual Life insurance - Direct Written Premium by Category (LBP Billion), 2014-2019 Table 33: Lebanese individual Life insurance - Direct Written Premium by Category (US$ Million), 2014-2019 Table 34: Lebanese individual Life insurance - Policies by Category (Thousand), 2010-2014 Table 35: Lebanese individual Life insurance - Policies by Category (Thousand), 2014-2019 Table 36: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2010-2014 Table 37: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2014-2019 Table 38: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2010-2014 Table 39: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2014-2019 Table 40: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2010-2014 Table 41: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2014-2019 Table 42: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2010-2014 Table 43: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2014-2019 Table 44: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2010-2014 Table 45: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2014-2019 Table 46: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2010-2014 Table 47: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2014-2019 Table 48: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2010-2014 Table 49: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2014-2019 Table 50: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014 Table 51: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2014-2019 Table 52: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014 Table 53: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2014-2019 Table 54: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2010-2014 Table 55: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2014-2019 Table 56: Lebanese Non-Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014 Table 57: Lebanese Non-Linked insurance Business - Gross Written Premium (LBP Billion), 2014-2019 Table 58: Lebanese Non-Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014 Table 59: Lebanese Non-Linked insurance Business - Direct Written Premium (LBP Billion), 2014-2019 Table 60: Lebanese Life insurance - Segment Shares (%), 2014 Table 61: Metlife Alico - Key Facts Table 62: Metlife Alico - Key Financials (LBP Million), 2010-2014 Table 63: Bancassurance SAL - Key Facts Table 64: Bancassurance SAL - Key Financials (LBP Million), 2010-2014 Table 65: Allianz SNA SAL - Key Facts Table 66: Allianz SNA SAL - Key Financials (LBP Million), 2010-2014 Table 67: Arope insurance SAL - Key Facts Table 68: Arope insurance SAL - Key Financials (LBP Million), 2010-2014 Table 69: LiA insurance SAL - Key Facts Table 70: LiA insurance SAL - Key Financials (LBP Million), 2010-2014 Table 71: Adonis insurance and Reinsurance Co. SAL (ADiR) - Key Facts Table 72: Adonis insurance and Reinsurance Co. SAL (ADiR) - Key Financials (LBP Million), 2010-2014 Table 73: Sogecap Liban SAL - Key Facts Table 74: Sogecap Liban SAL - Key Financials (LBP Million), 2010-2014 Table 75: Credit Libanais SAL - Key Facts Table 76: Credit Libanais SAL - Key Financials (LBP Million), 2010-2014 Table 77: Axa Me SAL - Key Facts Table 78: Axa Me SAL - Key Financials (LBP Million), 2010-2014 Table 79: Bankers Assurance SAL - Key Facts Table 80: Bankers Assurance SAL - Key Financials (LBP Million), 2010-2014 Table 81: Lebanon - insurance Regulatory Framework Key Features Table 82: Lebanon - Life insurance Regulatory Framework Table 83: Lebanon - Property insurance Regulatory Framework Table 84: Lebanon - Motor insurance Regulatory Framework Table 85: Lebanon - Liability insurance Regulatory Framework Table 86: Lebanon - Third-Party Liability Cover Limits Table 87: Lebanon - Amendment of Deemed Profit Rates Table 88: Lebanon - Corporate Tax Rates for the Financial Year 2015 Table 89: insurance industry Definitions


List of Figures
Figure 1: Lebanese Real GDP (LBP Trillion), 2010-2019 Figure 2: LBP-US$ exchange Rate, 2010-2019 Figure 3: Lebanese Consumer Price inflation, 2010-2019 Figure 4:Lebanese Current Account Balance as Percentage of GDP (%), 2010-2014 Figure 5: Lebanese Unemployment Rate, 2010-2019 Figure 6: Lebanese Population by Age Group, 1991-2025 Figure 7: Lebanese Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2019 Figure 8: Lebanese Life insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019 Figure 9: Lebanese Life insurance - Gross Written Premium Dynamics by Segment (2010-2019) Figure 10: Lebanese Life insurance - Net earned Premium (LBP Billion), 2010-2014 Figure 11: Lebanese Life insurance - Net earned Premium (LBP Billion), 2014-2019 Figure 12: Lebanese Life insurance - Paid Claims (LBP Billion), 2010-2014 Figure 13: Lebanese Life insurance - Paid Claims (LBP Billion), 2014-2019 Figure 14: Lebanese Life insurance - incurred Loss (LBP Billion), 2010-2014 Figure 15: Lebanese Life insurance - incurred Loss (LBP Billion), 2014-2019 Figure 16: Lebanese Life insurance - Number of Policies per Capita, 2010-2014 Figure 17: Lebanese Life insurance - Number of Policies per Capita, 2014-2019 Figure 18: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2010-2014 Figure 19: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2014-2019 Figure 20: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014 Figure 21: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019 Figure 22: Lebanese Life insurance - Total Assets (LBP Trillion), 2010-2014 Figure 23: Lebanese Life insurance - Total Assets (LBP Trillion), 2014-2019 Figure 24: Lebanese Life insurance - Total investment income (LBP Billion), 2010-2014 Figure 25: Lebanese Life insurance - Total investment income (LBP Billion), 2014-2019 Figure 26: Lebanese Life insurance - Net Written Premium (LBP Billion), 2010-2014 Figure 27: Lebanese Life insurance - Net Written Premium (LBP Billion), 2014-2019 Figure 28: Lebanese Life insurance - investment Portfolio (LBP Billion), 2010-2014 Figure 29: Lebanese Life insurance - investment Portfolio, 2010 and 2014 Figure 30: Lebanese Life insurance - Penetration (%), 2010-2014 Figure 31: Lebanese Life insurance - Direct Premium per Capita (LBP), 2010-2014 Figure 32: Lebanese Life insurance - Number of Active Policies (Thousand), 2010-2014 Figure 33: Lebanese Life insurance - Number of Active Policies (Thousand), 2014-2019 Figure 34: Lebanese Life insurance - Total investments (LBP Billion), 2010-2014 Figure 35: Lebanese individual Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2019 Figure 36: Lebanese individual Life insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019 Figure 37: Lebanese individual Life insurance - Gross Written Premium Dynamics by Category, 2010-2019 Figure 38: Lebanese individual Life insurance - Direct Written Premium by Category (LBP Billion), 2010-2019 Figure 39: Lebanese individual Life insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019 Figure 40: Lebanese individual Life insurance - Direct Written Premium Dynamics by Category, 2010-2019 Figure 41: Lebanese individual Life insurance - Policies by Category (Thousand), 2010-2019 Figure 42: Lebanese individual Life insurance - Policies by Category (Percentage Share), 2014 and 2019 Figure 43: Lebanese individual Life insurance - Policies Dynamics by Category, 2010-2019 Figure 44: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2010-2014 Figure 45: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2014-2019 Figure 46: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2010-2014 Figure 47: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2014-2019 Figure 48: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2010-2014 Figure 49: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2014-2019 Figure 50: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2010-2014 Figure 51: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2014-2019 Figure 52: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2010-2014 Figure 53: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2014-2019 Figure 54: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2010-2014 Figure 55: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2014-2019 Figure 56: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2010-2014 Figure 57: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2014-2019 Figure 58: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014 Figure 59: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2014-2019 Figure 60: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014 Figure 61: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2014-2019 Figure 62: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2010-2014 Figure 63: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2014-2019 Figure 64: Lebanese Non-Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014 Figure 65: Lebanese Non-Linked insurance Business - Gross Written Premium (LBP Billion), 2014-2019 Figure 66: Lebanese Non-Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014 Figure 67: Lebanese Non-Linked insurance Business - Direct Written Premium (LBP Billion), 2014-2019 Figure 68: Lebanese Life insurance - Segment Shares (%), 2014 Figure 69: Lebanon - insurance Supervision and Control at Various Levels Figure 70: Lebanon - insurance Regulatory Frameworks for Company Registration and Operation

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