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Personal Accident and Health Insurance in Lebanon Key Trends and Opportunities to 2020

Published: Jul, 2017 | Pages: 93 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric’s 'Personal Accident and Health Insurance in Lebanon Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Lebanese life insurance segment, and a comparison of the Lebanese insurance industry with its regional counterparts.

It provides 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 (2011–2015) and forecast period (2015–2020).

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 'Personal Accident and Health Insurance in Lebanon Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Lebanese personal accident and health insurance segment, including:

• An overview of the Lebanese personal accident and health insurance segment

• The Lebanese personal accident and health insurance segment’s growth prospects by category

• A comprehensive overview of the Lebanese economy and demographics

• A comparison of the Lebanese personal accident and health insurance segment with its regional counterparts

• The various distribution channels in the Lebanese personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in Lebanon

• Details of regulatory policy applicable to the Lebanese insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Lebanon:

• It provides historical values for the Lebanese personal accident and health insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Lebanese personal accident and health insurance segment, and market forecasts to 2020.

• It provides a comparison of the Lebanese personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Lebanon.

• It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Lebanese personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health 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

• In 2017, Al-Ittihad Al-Watani Insurance was taken over by NASCO Insurance Group, an insurance brokerage firm.

• In October 2016, Arope Insurance announced a strategic partnership with BoB Finance in collaboration with insurance brokers in Beirut.

• In 2015, the Insurance Control Commission (ICC) developed supervisory and analytical tools that strengthened disclosure requirements, and developed new guidelines for new products and the enhancement of existing ones.

• In 2015, ICC initiated the provision of soft loans as incentives in order to encourage mergers and acquisitions.
 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 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.1.3 Claims
5.1.4 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.2.3 Claims
5.2.4 Profitability

6 DISTRIBUTION CHANNEL OUTLOOK

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Medgulf Insurance and Reinsurance Co. SAL – company overview
7.1.2 Bankers Assurance SAL – company overview
7.1.3 Axa ME SAL – company overview
7.1.4 Allianz SNA SAL – company overview
7.1.5 Fidelity Assurance & Reinsurance Co. SAL – company overview

8 GOVERNANCE, RISK AND COMPLIANCE
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance (bodily injury only)
8.4.2 Work injury cover scheme
8.4.3 Universal health cover scheme
8.4.4 Liability for ship owners in respect of oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Insurance Control Commission
8.5.3 Association des Compagnies d'Assurances au Liban
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution

9 DATABOOK
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing and E-Commerce
9.5 Insurance Brokers and Agencies
9.6 Personal Accident Insurance
9.7 Health Insurance

10 DEFINITIONS AND METHODOLOGY
10.1 Definitions
10.2 Methodology

11 ABOUT TIMETRIC
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric’s Services
11.4 Disclaimer
List of Tables

Table 1: Lebanese Personal Accident and Health Insurance – Key Facts, 2015
Table 2: Lebanese Personal Accident and Health Insurance – Leading Insurers, 2015
Table 3: Lebanese Government Credit Ratings
Table 4: Lebanese Personal Accident and Health Insurance – Gross Written Premium (LBP Billion and US$ Billion), 2011–2015
Table 5: Lebanese Personal Accident and Health Insurance – Penetration (%), 2011–2015
Table 6: Lebanese Personal Accident and Health Insurance – Gross Written Premium (LBP Billion and US$ Billion), 2015–2020
Table 7: Lebanese Personal Accident and Health Insurance – Penetration (%), 2015–2020
Table 8: Lebanese Personal Accident and Health Insurance – Premium per Capita (LBP and US$), 2011–2015
Table 9: Lebanese Personal Accident and Health Insurance – Premium per Capita (LBP and US$), 2015–2020
Table 10: Lebanese Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 11: Lebanese Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 12: Lebanese Personal Accident and Health Insurance – Paid Claims (LBP Billion and US$ Billion), 2011–2015
Table 13: Lebanese Personal Accident and Health Insurance – Paid Claims (LBP Billion and US$ Billion), 2015–2020
Table 14: Lebanese Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2015
Table 15: Lebanese Personal Accident and Health Insurance – Profitability Ratio (%), 2015–2020
Table 16: Lebanese Personal Accident and Health Insurance – Total Assets (LBP Billion and US$ Billion), 2011–2015
Table 17: Lebanese Personal Accident and Health Insurance – Total Assets (LBP Billion and US$ Billion), 2015–2020
Table 18: Lebanese Personal Accident and Health Insurance – Total Investment Income (LBP Million and US$ Million), 2011–2015
Table 19: Lebanese Personal Accident and Health Insurance – Total Investment Income (LBP Million and US$ Million), 2015–2020
Table 20: Lebanese Personal Accident and Health Insurance – Investment Portfolio (LBP Billion), 2011–2015
Table 21: Lebanese Personal Accident and Health Insurance – Investment Portfolio (LBP Billion), 2015–2020
Table 22: Lebanese Personal Accident and Health Insurance – Direct Written Premium by Category (LBP Billion), 2011–2015
Table 23: Lebanese Personal Accident and Health Insurance – Direct Written Premium by Category (LBP Billion), 2015–2020
Table 24: Lebanese Personal Accident Insurance – Direct Written Premium (LBP Billion and US$ Billion), 2011–2015
Table 25: Lebanese Personal Accident Insurance – Direct Written Premium (LBP Billion and US$ Billion), 2015–2020
Table 26: Lebanese Personal Accident Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 27: Lebanese Personal Accident Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 28: Lebanese Personal Accident Insurance – Paid Claims (LBP Million and US$ Million), 2011–2015
Table 29: Lebanese Personal Accident Insurance – Paid Claims (LBP Million and US$ Million), 2015–2020
Table 30: Lebanese Personal Accident Insurance – Loss Ratio (%), 2011–2015
Table 31: Lebanese Personal Accident Insurance – Loss Ratio (%), 2015–2020
Table 32: Lebanese Health Insurance – Direct Written Premium (LBP Billion and US$ Billion), 2011–2015
Table 33: Lebanese Health Insurance – Direct Written Premium (LBP Billion and US$ Billion), 2015–2020
Table 34: Lebanese Health Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 35: Lebanese Health Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 36: Lebanese Health Insurance – Paid Claims (LBP Billion and US$ Billion), 2011–2015
Table 37: Lebanese Health Insurance – Paid Claims (LBP Billion and US$ Billion), 2015–2020
Table 38: Lebanese Health Insurance – Loss Ratio (%), 2011–2015
Table 39: Lebanese Health Insurance – Loss Ratio (%), 2015–2020
Table 40: Lebanese Personal Accident and Health Insurance –Leading Insurers
Table 41: Medgulf Insurance and Reinsurance Co. SAL – Key Facts
Table 42: Bankers Assurance SAL – Key Facts
Table 43: Axa ME SAL – Key Facts
Table 44: Allianz SNA SAL – Key Facts
Table 45: Fidelity Assurance & Reinsurance Co. SAL – Key Facts
Table 46: Lebanon – Insurance Regulatory Framework Key Features
Table 47: Lebanon – Life Insurance Regulatory Framework
Table 48: Lebanon – Property Insurance Regulatory Framework
Table 49: Lebanon – Motor Insurance Regulatory Framework
Table 50: Lebanon – Liability Insurance Regulatory Framework
Table 51: Lebanon – Third-Party Liability Cover Limits
Table 52: Lebanon – Amendment of Deemed Profit Rates
Table 53: Lebanon – Corporate Tax Rates for the Financial Year 2017
Table 54: Lebanese Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015
Table 55: Lebanese Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020
Table 56: Lebanese Personal Accident and Health Insurance – Claims and Expenses, 2011–2015
Table 57: Lebanese Personal Accident and Health Insurance – Claims and Expenses, 2015–2020
Table 58: Lebanese Personal Accident and Health Insurance – Assets and Investments, 2011–2015
Table 59: Lebanese Personal Accident and Health Insurance – Assets and Investments, 2015–2020
Table 60: Lebanese Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2011–2015
Table 61: Lebanese Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2015–2020
Table 62: Lebanese Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2011–2015
Table 63: Lebanese Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2015–2020
Table 64: Lebanese Personal Accident and Health Insurance – Personal Accident Insurance, 2011–2015
Table 65: Lebanese Personal Accident and Health Insurance – Personal Accident Insurance, 2015–2020
Table 66: Lebanese Personal Accident and Health Insurance – Health Insurance, 2011–2015
Table 67: Lebanese Personal Accident and Health Insurance – Health Insurance, 2015–2020
Table 68: Insurance Industry Definitions

List of Figures

Figure 1: Lebanese Real GDP (LBP Trillion), and Annual Growth (%) 2011–2020
Figure 2: Lebanese Consumer Price Inflation (%), 2011–2020
Figure 3: Lebanese Current Account Balance as Percentage of GDP (%), 2011–2015
Figure 4: Lebanese Unemployment Rate, 2011–2020
Figure 5: Lebanese Population by Age Group, 1991–2025
Figure 6: Lebanese Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2015
Figure 7: Lebanese Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015
Figure 8: Lebanese Personal Accident and Health Insurance – Gross Written Premium (LBP Billion), 2011–2020
Figure 9: Lebanese Personal Accident and Health Insurance – Penetration (%), 2011–2020
Figure 10: Lebanese Personal Accident and Health Insurance – Premium per Capita (LBP), 2011–2020
Figure 11: Lebanese Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 12: Lebanese Personal Accident and Health Insurance – Paid Claims (LBP Billion), 2011–2020
Figure 13: Lebanese Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2020
Figure 14: Lebanese Personal Accident and Health Insurance – Total Assets (LBP Billion), 2011–2020
Figure 15: Lebanese Personal Accident and Health Insurance – Total Investment Income (LBP Million), 2011–2020
Figure 16: Lebanese Personal Accident and Health Insurance – Investment Portfolio (LBP Billion), 2011–2020
Figure 17: Lebanese Personal Accident and Health Insurance – Investment Portfolio Dynamics by Category, 2011–2020
Figure 18: Lebanese Personal Accident and Health Insurance – Direct Written Premium by Category (LBP Billion), 2011–2020
Figure 19: Lebanese Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2011–2020
Figure 20: Lebanese Personal Accident Insurance – Direct Written Premium (LBP Billion), 2011–2020
Figure 21: Lebanese Personal Accident Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 22: Lebanese Personal Accident Insurance – Paid Claims (LBP Million), 2011–2020
Figure 23: Lebanese Personal Accident Insurance – Earned Premium, Incurred Loss and Loss Ratio (LBP Billion and %), 2011–2020
Figure 24: Lebanese Health Insurance – Direct Written Premium (LBP Billion), 2011–2020
Figure 25: Lebanese Health Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 26: Lebanese Health Insurance – Paid Claims (LBP Billion), 2011–2020
Figure 27: Lebanese Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (LBP Billion and %), 2011–2020
Figure 28: Lebanon – Insurance Supervision and Control at Various Levels
Figure 29: Lebanon – Insurance Regulatory Frameworks for Company Registration and Operation 



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