Economic Research | Lebanon This Week | Lebanon This Week 532 | Insurance premiums up 4% to $1.63bn in 2017, claims up 9% to $966m | Lebanon | Byblos Bank

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Byblos Bank

Lebanon This Week 532

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Insurance premiums up 4% to $1.63bn in 2017, claims up 9% to $966m

Figures released by the Association of Insurance Companies in Lebanon (ACAL) indicate that insurance premiums generated in Lebanon totaled $1.63bn in 2017, constituting an increase of 4% from $1.57bn in 2016. Premiums reached $447m in the first quarter, $400.6m in the second quarter, $401m in the third quarter and $382.7m in the fourth quarter of 2017.

Life insurance premiums totaled $504.9m in 2017 and accounted for 30.9% of the sector's aggregate premiums. Medical insurance premiums followed with $478.1m (29.3%), then motor insurance premiums with $376.6m (23.1%), fire premiums with $109.3m (6.7%), workmen compensation with $52.6m (3.2%), cargo premiums with $37m (2.3%), public liability premiums with $20m (1.2%) and engineering premiums with $8.8m (0.5%), while premiums from other categories amounted to $44.1m and accounted for 2.7% of the total.
 
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