Economic Research | Lebanon This Week | Lebanon This Week 527 | Non-life premiums up 2% to $1.1bn in 2017 | Lebanon | Byblos Bank

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Lebanon This Week 527

Home Economic Research Lebanon This Week 527 Non-life premiums up 2% to $1.1bn in 2017
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Non-life premiums up 2% to $1.1bn in 2017

The annual survey by Al-Bayan magazine of the insurance sector in Lebanon shows that total non-life premiums generated by 44 insurance companies reached $1.12bn in 2017, constituting an increase of 2.3% from $1.09bn in 2016, and compared to growth rates of 3% in 2016 and 2.4% in 2015. Non-life premiums totaled $983m in 2013, $1.03bn in 2014 and $1.06bn in 2015. Bankers Assurance ranked in first place with $106.2m in non-life premiums in 2017, followed by MedGulf with $92.7m, AXA Middle East with $83.4m, Allianz SNA with $71.3m and Fidelity with $70.8m. Byblos Bank's insurance affiliate ADIR ranked in 17th place with $23.4m in non-life premiums in 2017, unchanged from 2016. The rank of Securité Assurance improved by six spots to 19th place and registered the highest jump in rank among the 44 providers of non-life insurance operating in Lebanon. Its non-life premiums grew from $9.8m in 2016 to $17.4m last year. The top 10 insurers accounted for 64% of the non-life insurance market in 2017 relative to 64.5% in 2016 and 64.8 % in 2015; while the top 20 insurers represented 86.4% of premiums in 2017 compared to 86.9% in 2016 and 85.9% in 2015. The aggregate non-life premiums of the top 10 insurers reached $715.1m in 2017 compared to $704.2m in 2016 and $686.7m in 2015.
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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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