Swiss Re's annual survey of the global insurance market indicated that Lebanon ranked in 60th place among the largest 88 markets in terms of premiums generated in 2017 and came in fourth place among 11 Arab markets included in the survey. Lebanon ranked in 61st place globally and in fifth place among Arab countries in 2016. Lebanon generated $1.63bn in total premiums in 2017, constituting a rise of 4% in nominal terms and a decline of 0.5% in real terms from the preceding year. Total premiums generated in Lebanon last year accounted for 0.03% of global premiums, for 0.3% of premiums generated in emerging markets excluding China, and for 2.7% of premiums generated in the Middle East & Central Asia region. 

Globally, insurance premiums generated in Lebanon were similar to those produced in Ukraine, and higher than premiums generated in Egypt ($1.59bn) and Uruguay ($1.58bn); while they were lower than those generated in Ecuador ($2.05bn), Kenya ($2bn) and Venezuela ($1.71bn). Also, aggregate premiums in the Lebanese insurance market were higher than those generated in Egypt, Algeria ($1.22bn), Oman ($1.21bn), Jordan ($854m), Kuwait ($821m), Tunisia ($814m) and Bahrain ($762m) among Arab countries.

Lebanon generated $1.13bn in non-life premiums last year, ranking it in 61st place among the 88 markets and in fourth place among Arab countries. In comparison, Lebanon ranked in 62nd place globally and in sixth place regionally in terms of non-life premiums in 2016. Non-life premiums produced in Lebanon rose by 3.8% in nominal terms, while they declined by 0.7% in real terms in 2017. Further, Lebanon generated $505m in life premiums in 2017, ranking it in 63rd place globally and in fourth place in the Arab world. It came in 62nd place worldwide and in fourth place regionally in 2016. Life premiums generated in the Lebanese market grew by 4.5% in nominal terms, while they posted flat growth in real terms last year. 

In parallel, Swiss Re estimated Lebanon's insurance density, or premiums per capita, at $276 in 2017 relative to $268.6 in 2016, which ranks the local market in 54th place globally and in fourth place in the Arab world. Lebanon had a higher insurance density than Costa Rica ($272), Oman ($265) and Jamaica ($253), and a lower density than Hungary ($348), Croatia ($333) and Saudi Arabia ($296). The survey estimated Lebanon's non-life density at $191 and life density at $85 in 2017. 

Also, the survey estimated the insurance penetration rate in Lebanon, or premiums relative to the size of the economy, at 3.15% of GDP in 2017 relative to 3.32% of GDP in 2016, ranking it in 44th place among the 88 covered markets and in third place in the Arab world. Lebanon had a higher insurance penetration rate than Poland (3.04% of GDP), Colombia (2.88% of GDP) and the Czech Republic (2.85% of GDP), and a lower rate than India (3.69% of GDP), the UAE (3.65% of GDP) and Morocco (3.49%). Lebanon posted penetration rates of 0.97% of GDP and 2.18% of GDP in the life and non-life categories, respectively, in 2017.