Market Spotlight
Trends and prospects
What are the current trends in and future prospects for
the insurance and reinsurance markets in your
jurisdiction?
Lebanon's insurance industry is one of the most developed in
the Middle East region. The country's liberal regulatory regime
means that foreign entities enjoy a considerable share of
Lebanon's insurance industry. Indeed, the Lebanese government
has stepped up its efforts to modernise the insurance sector and
ensure its sustainable development from the standpoint of both the
insurer's solvency and the buyer's safety.
Market research reports show that, in terms of gross written
premium, the industry posted a compound annual growth rate of 10.5%
for the 2008-2012 review period. The gross written premium was
equivalent to 3.13% of the gross domestic product in 2012. The
minimum paid-up capital required for insurers to operate in the
Lebanese insurance industry is $1.5 million. This low threshold
means that there
