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Non-Life insurance in Lebanon, Key Trends and Opportunities to 2019

Published: Apr 29, 2016 | Pages: 118 | Publisher: Timetric | Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Non-Life insurance in Lebanon, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Lebanese non-life insurance segment, and a comparison of the Lebanese insurance industry with its regional counterparts. it provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural and man-made hazards and their impact on the Lebanese insurance industry, 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 'Non-Life insurance in Lebanon, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Lebanese non-life insurance segment, including: The Lebanese non-life insurance segment's detailed outlook by product category A comprehensive overview of the Lebanese economy and demographics A comparison of the Lebanese insurance industry with its regional counterparts The various distribution channels in the Lebanese non-life insurance segment Detailed analysis of natural and man-made hazards and their impact on the Lebanese insurance industry Details of the competitive landscape in the non-life insurance segment in Lebanon Details of regulatory policy applicable to the Lebanese insurance industry Scope
This report provides a comprehensive analysis of the non-life insurance segment in Lebanon: it provides historical values for the Lebanese non-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 non-life insurance segment, and market forecasts to 2019. it profiles the top non-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 non-life insurance segment, and each category within it. Understand the demand-side dynamics, key market trends and growth opportunities in the Lebanese non-life insurance segment. Assess the competitive dynamics in the non-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
Non-life insurance was the largest segment in the Lebanese insurance industry, accounting for 36.6% of gross written premium in 2014. . Motor insurance was the largest non-life category, accounting for 62.3% of the segment's gross written premium in 2014. Cyber-crime rates are on the rise supporting the emergence of professional liability insurance. Despite facing economic and political pressures due to the ongoing Syrian crisis, Lebanon's construction industry remains one of the most attractive to investors. The Lebanese non-life segment is moderately consolidated, with the 10 leading non-life insurers accounting for 57.5% of the total segment's gross written premium in 2014. insurers are looking to strengthen their positions and gain market share by launching new products and widening product portfolios.
 Table of Content
1 Key Facts and Highlights 2 executive Summary 3 economy and Demographics 4 Segment Outlook 4.1 Regional Comparison 4.2 Segment indicators 4.2.1 Gross written premium and penetration 4.2.2 Policies sold 4.2.3 Claims 4.2.4 Profitability 4.2.5 Assets and investments 5 Outlook by Category 5.1 Property insurance 5.1.1 Product overview 5.1.2 Premium 5.1.3 Policies 5.1.4 Claims 5.1.5 Profitability 5.2 Motor insurance 5.2.1 Product overview 5.2.2 Premium 5.2.3 Policies 5.2.4 Claims 5.2.5 Profitability 5.3 Liability insurance 5.3.1 Product overview 5.3.2 Premium 5.3.3 Policies 5.3.4 Claims 5.3.5 Profitability 5.4 Marine, Aviation and Transit insurance 5.4.1 Product overview 5.4.2 Premium 5.4.3 Policies 5.4.4 Claims 5.4.5 Profitability 6 Distribution Channel Outlook 6.1 Analysis by Distribution Channel 7 Natural and man-made Hazards 7.1 earthquakes 7.2 Storms 7.3 Wildfires 7.4 Floods 7.5 Man-made calamities 7.6 exposure 8 Competitive Landscape 8.1 Company Rankings 8.2 Comparison of the Top Five insurers 8.2.1 Gross written premium 8.3 Company Profiles 8.3.1 Bankers Assurance SAL - company overview 8.3.2 Arope insurance SAL - company overview 8.3.3 LiA insurance SAL - company overview 8.3.4 Axa Me SAL - company overview 8.3.5 Libano-Suisse insurance Co. SAL - company overview 9 Governance, Risk and Compliance 9.1 Legislation Overview and Historical evolution 9.2 Latest Changes in Regulations 9.3 Legislation and market practice by Type of insurance 9.3.1 Life insurance 9.3.2 Property insurance 9.3.3 Motor insurance 9.3.4 Liability insurance 9.3.5 Marine, aviation and transit insurance 9.3.6 Personal accident and health insurance 9.4 Compulsory insurance 9.4.1 Motor third-party liability insurance (bodily injury only) 9.4.2 Work injury coverage scheme 9.4.3 Universal health coverage scheme 9.5 Supervision and Control 9.5.1 international Association of insurance Supervisors (iAiS) 9.5.2 insurance Control Commission 9.5.3 Association des Compagnies d'Assurances au Liban (ACAL) 9.6 Non-Admitted insurance Regulations 9.6.1 Overview 9.6.2 intermediaries 9.6.3 Market practices 9.6.4 Fines and penalties 9.7 Company Registration and Operations 9.7.1 Types of insurance organization 9.7.2 establishing a local company 9.7.3 Foreign ownership 9.7.4 Types of license 9.7.5 Capital requirements 9.7.6 Solvency margins 9.7.7 Reserve requirements 9.7.8 investment regulations 9.7.9 Statutory return requirements 9.7.10 Fee structure 9.8 Taxation 9.8.1 insurance premium or policy taxation 9.8.2 Corporate tax 9.8.3 VAT 9.8.4 Captives 9.9 Legal System 9.9.1 introduction 9.9.2 Access to court 9.9.3 Alternative dispute resolution (ADR) 10 Databook 10.1 Policies and Premium 10.2 Claims and expenses 10.3 Assets and investments 10.4 Direct Marketing 10.5 insurance Brokers 10.6 Property insurance 10.7 Property insurance by Product 10.8 Motor insurance 10.9 Motor insurance by Product 10.1 Liability insurance 10.11 Marine, Aviation and Transit insurance 11 Definitions and Methodology 11.1 Definitions 11.2 Methodology 12 About Timetric 12.1 Contact Timetric 12.2 About Timetric 12.3 Timetric's Services 12.4 Disclaimer
List of Tables
Table 1: Lebanese Non-Life insurance - Key Facts, 2014 Table 2: Lebanese Non-Life insurance - Segment Shares of the Top insurers, 2014 Table 3: Lebanese Government Credit Ratings Table 4: Lebanese Non-Life insurance - Gross Written Premium (LBP Billion and US$ Million), 2010-2014 Table 5: Lebanese Non-Life insurance - Penetration (%), 2010-2014 Table 6: Lebanese Non-Life insurance - Gross Written Premium (LBP Billion and US$ Million), 2014-2019 Table 7: Lebanese Non-Life insurance - Penetration (%), 2014-2019 Table 8: Lebanese Non-Life insurance - Premium per Capita (LBP and US$), 2010-2014 Table 9: Lebanese Non-Life insurance - Premium per Capita (LBP and US$), 2014-2019 Table 10: Lebanese Non-Life insurance - Number of Policies Sold (Thousand), 2010-2014 Table 11: Lebanese Non-Life insurance - Number of Policies Sold (Thousand), 2014-2019 Table 12: Lebanese Non-Life insurance - Paid Claims (LBP Billion and US$ Million), 2010-2014 Table 13: Lebanese Non-Life insurance - Paid Claims (LBP Billion and US$ Million), 2014-2019 Table 14: Lebanese Non-Life insurance - Profitability Ratio (%), 2010-2014 Table 15: Lebanese Non-Life insurance - Profitability Ratio (%), 2014-2019 Table 16: Lebanese Non-Life insurance - Total Assets (LBP Billion and US$ Million), 2010-2014 Table 17: Lebanese Non-Life insurance - Total Assets (LBP Billion and US$ Million), 2014-2019 Table 18: Lebanese Non-Life insurance - Total investment income (LBP Billion and US$ Million), 2010-2014 Table 19: Lebanese Non-Life insurance - Total investment income (LBP Billion and US$ Million), 2014-2019 Table 20: Lebanese Non-Life insurance - investment Portfolio (LBP Billion), 2010-2014 Table 21: Lebanese Non-Life insurance - investment Portfolio (LBP Billion), 2014-2019 Table 22: Lebanese Non-Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2014 Table 23: Lebanese Non-Life insurance - Gross Written Premium by Category (LBP Billion), 2014-2019 Table 24: Lebanese Property insurance - Gross Written Premium by Sub-Category (LBP Billion), 2010-2014 Table 25: Lebanese Property insurance - Gross Written Premium by Sub-Category (LBP Billion), 2014-2019 Table 26: Lebanese Property insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014 Table 27: Lebanese Property insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019 Table 28: Lebanese Property insurance - Paid Claims (LBP Billion and US$ Million), 2010-2014 Table 29: Lebanese Property insurance - Paid Claims (LBP Billion and US$ Million), 2014-2019 Table 30: Lebanese Property insurance - Loss Ratio (%), 2010-2014 Table 31: Lebanese Property insurance - Loss Ratio (%), 2014-2019 Table 32: Lebanese Motor insurance - Gross Written Premium by Sub-Category (LBP Billion), 2010-2014 Table 33: Lebanese Motor insurance - Gross Written Premium by Sub-Category (LBP Billion), 2014-2019 Table 34: Lebanese Motor insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014 Table 35: Lebanese Motor insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019 Table 36: Lebanese Motor insurance - Paid Claims (LBP Billion and US$ Million), 2010-2014 Table 37: Lebanese Motor insurance - Paid Claims (LBP Billion and US$ Million), 2014-2019 Table 38: Lebanese Motor insurance - Loss Ratio (%), 2010-2014 Table 39: Lebanese Motor insurance - Loss Ratio (%), 2014-2019 Table 40: Lebanese Liability insurance - Gross Written Premium (LBP Billion), 2010-2014 Table 41: Lebanese Liability insurance - Gross Written Premium (LBP Billion), 2014-2019 Table 42: Lebanese Liability insurance - Number of Policies Sold (Thousand), 2010-2014 Table 43: Lebanese Liability insurance - Number of Policies Sold (Thousand), 2014-2019 Table 44: Lebanese Liability insurance - Paid Claims (LBP Billion and US$ Million), 2010-2014 Table 45: Lebanese Liability insurance - Paid Claims (LBP Billion and US$ Million), 2014-2019 Table 46: Lebanese Liability insurance - Loss Ratio (%), 2010-2014 Table 47: Lebanese Liability insurance - Loss Ratio (%), 2014-2019 Table 48: Lebanese Transport Network - Global Rankings Table 49: Lebanese Marine, Aviation and Transit insurance - Gross Written Premium (LBP Billion), 2010-2014 Table 50: Lebanese Marine, Aviation and Transit insurance - Gross Written Premium (LBP Billion), 2014-2019 Table 51: Lebanese Marine, Aviation and Transit insurance - Number of Policies Sold (Thousand), 2010-2014 Table 52: Lebanese Marine, Aviation and Transit insurance - Number of Policies Sold (Thousand), 2014-2019 Table 53: Lebanese Marine, Aviation and Transit insurance - Paid Claims (LBP Billion and US$ Million), 2010-2014 Table 54: Lebanese Marine, Aviation and Transit insurance - Paid Claims (LBP Billion and US$ Million), 2014-2019 Table 55: Lebanese Marine, Aviation and Transit insurance - Loss Ratio (%), 2010-2014 Table 56: Lebanese Marine, Aviation and Transit insurance - Loss Ratio (%), 2014-2019 Table 57: Lebanese Average Annual Loss by Hazard, 1990-2014 Table 58: List of Man-made Attacks in Lebanon, 2004-2016 Table 59: Shares of Key insurers in the Lebanese Non-Life Segment (%), 2014 Table 60: Bankers Assurance SAL - Key Facts Table 61: Bankers Assurance SAL - Key Financials (LBP Million), 2010-2014 Table 62: Arope insurance SAL - Key Facts Table 63: Arope insurance SAL - Key Financials (LBP Million), 2010-2014 Table 64: LiA insurance SAL - Key Facts Table 65: LiA insurance SAL - Key Financials (LBP Million), 2010-2014 Table 66: Axa Me SAL - Key Facts Table 67: Axa Me SAL - Key Financials (LBP Million), 2010-2014 Table 68: Libano-Suisse insurance Co. SAL - Key Facts Table 69: Libano-Suisse insurance Co. SAL - Key Financials (LBP Million), 2010-2014 Table 70: Lebanon - insurance Regulatory Framework Key Features Table 71: Lebanon - Life insurance Regulatory Framework Table 72: Lebanon - Property insurance Regulatory Framework Table 73: Lebanon - Motor insurance Regulatory Framework Table 74: Lebanon - Liability insurance Regulatory Framework Table 75: Lebanon - Third-Party Liability Cover Limits Table 76: Lebanon - Amendment of Deemed Profit Rates Table 77: Lebanon - Corporate Tax Rates for the Financial Year 2015 Table 78: Lebanese insurance industry - Policies and Premium, 2010-2014 Table 79: Lebanese insurance industry - Policies and Premium, 2014-2019 Table 80: Lebanese Non-Life insurance - Claims and expenses, 2010-2014 Table 81: Lebanese Non-Life insurance - Claims and expenses, 2014-2019 Table 82: Lebanese Non-Life insurance - Assets and investments, 2010-2014 Table 83: Lebanese Non-Life insurance - Assets and investments, 2014-2019 Table 84: Lebanese Non-Life insurance - Direct Marketing, 2010-2014 Table 85: Lebanese Non-Life insurance - Direct Marketing, 2014-2019 Table 86: Lebanese Non-Life insurance - insurance Brokers, 2010-2014 Table 87: Lebanese Non-Life insurance - insurance Brokers, 2014-2019 Table 88: Lebanese Non-Life insurance - Property insurance, 2010-2014 Table 89: Lebanese Non-Life insurance - Property insurance, 2014-2019 Table 90: Lebanese Non-Life insurance - Property insurance by Product, 2010-2014 Table 91: Lebanese Non-Life insurance - Property insurance by Product, 2014-2019 Table 92: Lebanese Non-Life insurance - Motor insurance, 2010-2014 Table 93: Lebanese Non-Life insurance - Motor insurance, 2014-2019 Table 94: Lebanese Non-Life insurance - Motor insurance by Product, 2010-2014 Table 95: Lebanese Non-Life insurance - Motor insurance by Product, 2014-2019 Table 96: Lebanese Non-Life insurance - Liability insurance, 2010-2014 Table 97: Lebanese Non-Life insurance - Liability insurance, 2014-2019 Table 98: Lebanese Non-Life insurance - Marine, Aviation and Transit insurance, 2010-2014 Table 99: Lebanese Non-Life insurance - Marine, Aviation and Transit insurance, 2014-2019 Table 100: 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 Non-Life insurance Penetration - Regional Comparison (%), 2014 Figure 8: Lebanese insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014 Figure 9: Lebanese Non-Life insurance - Gross Written Premium (LBP Billion), 2010-2019 Figure 10: Lebanese Non-Life insurance - Penetration (%), 2010-2019 Figure 11: Lebanese Non-Life insurance - Premium per Capita (LBP), 2010-2019 Figure 12: Lebanese Non-Life insurance - Number of Policies Sold (Thousand), 2010-2019 Figure 13: Lebanese Non-Life insurance - Paid Claims (LBP Billion), 2010-2019 Figure 14: Lebanese Non-Life insurance - Profitability Ratio (%), 2010-2019 Figure 15: Lebanese Non-Life insurance - Total Assets (LBP Billion), 2010-2019 Figure 16: Lebanese Non-Life insurance - Total investment income (LBP Billion), 2010-2019 Figure 17: Lebanese Non-Life insurance - investment Portfolio (LBP Billion), 2010-2019 Figure 18: Lebanese Non-Life insurance - investment Portfolio Dynamics by Category, 2010-2019 Figure 19: Lebanese Non-Life insurance - Gross Written Premium by Category (LBP Billion and US$ Billion), 2010-2019 Figure 20: Lebanese Non-Life insurance - Gross Written Premium Dynamics by Category, 2010-2019 Figure 21: Lebanese Property insurance - Gross Written Premium by Sub-Category (LBP Billion), 2010-2019 Figure 22: Lebanese Property insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019 Figure 23: Lebanese Property insurance - Number of Policies Sold by Sub-Category(Thousand), 2010-2019 Figure 24: Lebanese Property insurance - Paid Claims (LBP Billion), 2010-2019 Figure 25: Lebanese Property insurance - earned Premium, incurred Loss and Loss Ratio (LBP Billion and %), 2010-2019 Figure 26: Lebanon - Passenger Cars by Country of Origin (Percentage Share), 2014 Figure 27: Lebanon - Total Vehicle Sales, 2010-2015 Figure 28: Lebanese Motor insurance - Gross Written Premium by Sub-Category (LBP Billion), 2010-2019 Figure 29: Lebanese Motor insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019 Figure 30: Lebanese Motor insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019 Figure 31: Lebanese Motor insurance - Paid Claims (LBP Billion), 2010-2019 Figure 32: Lebanese Motor insurance - earned Premium, incurred Loss and Loss Ratio (LBP Billion and %), 2010-2019 Figure 33: Lebanese Liability insurance - Gross Written Premium (LBP Billion), 2010-2019 Figure 34: Lebanese Liability insurance - Number of Policies Sold (Thousand), 2010-2019 Figure 35: Lebanese Liability insurance - Paid Claims (LBP Billion), 2010-2019 Figure 36: Lebanese Liability insurance - earned Premium, incurred Loss and Loss Ratio (LBP Billion and %), 2010-2019 Figure 37: Lebanese Goods exports and imports (LBP Trillion), 2010-2014 Figure 38: Lebanese Marine, Aviation and Transit insurance - Gross Written Premium (LBP Billion), 2010-2019 Figure 39: Lebanese Marine, Aviation and Transit insurance - Number of Policies Sold (Thousand), 2010-2019 Figure 40: Lebanese Marine, Aviation and Transit insurance - Paid Claims (LBP Billion), 2010-2019 Figure 41: Lebanese Marine, Aviation and Transit insurance - earned Premium, incurred Loss and Loss Ratio (LBP Billion and %), 2010-2019 Figure 42: Lebanese Frequency of Hazards by Type, 1990-2014 Figure 43: Lebanese Mortality of Hazards by Type, 1990-2014 Figure 44: Shares of Key insurers in the Lebanese Non-Life Segment (%), 2014 Figure 45: Lebanese Non-Life insurance - Top insurers' Gross Written Premium Growth Relative to Segment Overall (%), 2010-2014 Figure 46: Lebanon - insurance Supervision and Control at Various Levels Figure 47: Lebanon - insurance Regulatory Frameworks for Company Registration and Operation

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