Life Insurance in Lebanon, Key Trends and Opportunities to 2019

Life Insurance in Lebanon, Key Trends and Opportunities to 2019

Apr 2016 Timetric Life Insurance128 Pages Price :
$ 1450
Synopsis
Timetrics 'Life Insurance in Lebanon, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Lebanese life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (20102014) and forecast period (20142019).

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 Timetrics 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
Timetrics 'Life Insurance in Lebanon, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Lebanese life insurance segment, including:

The Lebanese life insurance segments growth prospects by life insurance category

Key trends, drivers and challenges for the life insurance segment

A comprehensive overview of the Lebanese economy and demographics

The various distribution channels in the Lebanese life insurance segment

Details of the competitive landscape in the life insurance segment in Lebanon

Details of regulatory policy applicable to the Lebanese insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Lebanon:

It provides historical values for the Lebanese life insurance segment for the reports 20102014 review period, and projected figures for the 20142019 forecast period.

It offers a detailed analysis of the key categories in the Lebanese life insurance segment, and market forecasts to 2019.

It analyzes the various distribution channels for life insurance products in Lebanon.

It profiles the top life 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 life insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Lebanese life insurance segment.

Assess the competitive dynamics in the life 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
Life insurance was the smallest segment in the Lebanese insurance industry in 2014, and accounted for 28.9% of the industrys total gross written premium.

Lebanons life insurance penetration decreased from 0.88% in 2010 to 0.85% in 2014, for various reasons, including political violence in the country and the emergence of takaful insurance.

The life segment was driven by demand for traditional products during the review period.

In addition to underwriting profits, Lebanese life insurers are focusing on generating investment returns, aided by sustainable economic growth.

Despite having the highest insurance penetration in the Middle East and North Africa in 2014, many Lebanese people still do not have any kind of life insurance product, due to lack of awareness.

The segment is highly consolidated, with the 10 leading life insurers together accounting for 85.4% of the life gross written premium in 2014.
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Life Insurance Outlook
4.1 Key Drivers
4.2 Key Trends
4.3 Challenges
4.4 Life Insurance Growth Prospects by Category
4.5 Individual Life Insurance
4.5.1 Individual endowment insurance
4.5.2 Individual term life insurance
4.5.3 Other individual life insurance
4.6 Life Insurance Growth Prospects by Product Type
4.6.1 Total linked insurance business
4.6.2 Total non-linked insurance business
5 Analysis by Distribution Channel
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Lebanese Life Insurance Segment
6.2.1 Metlife Alico company overview
6.2.2 Bancassurance SAL company overview
6.2.3 Allianz SNA SAL company overview
6.2.4 Arope Insurance SAL company overview
6.2.5 LIA Insurance SAL company overview
6.2.6 Adonis Insurance and Reinsurance Co. SAL (ADIR) company overview
6.2.7 Sogecap Liban SAL company overview
6.2.8 Credit Libanais SAL company overview
6.2.9 Axa ME SAL company overview
6.2.10 Bankers Assurance SAL company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and market practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance (bodily injury only)
7.4.2 Work injury coverage scheme
7.4.3 Universal health coverage scheme
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors (IAIS)
7.5.2 Insurance Control Commission
7.5.3 Association des Compagnies d'Assurances au Liban (ACAL)
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Corporate tax
7.8.3 VAT
7.8.4 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 Definitions and Methodology
8.1 Definitions
8.2 Methodology
9 About Timetric
9.1 Contact Timetric
9.2 About Timetric
9.3 Timetrics Services
9.4 Disclaimer

List of Tables
Table 1: Lebanon Life Insurance Key Facts, 2014
Table 2: Lebanese Life Insurance Segment Shares of the Top Insurers, 2014
Table 3:Lebanese Government Credit Ratings
Table 4: Lebanese Life Insurance Gross Written Premium by Category (LBP Billion), 20102014
Table 5: Lebanese Life Insurance Gross Written Premium by Category (US$ Million), 20102014
Table 6: Lebanese Life Insurance Gross Written Premium by Category (LBP Billion), 20142019
Table 7: Lebanese Life Insurance Gross Written Premium by Category (US$ Million), 20142019
Table 8: Lebanese Life Insurance Net Earned Premium (LBP Billion), 20102014
Table 9: Lebanese Life Insurance Net Earned Premium (LBP Billion), 20142019
Table 10: Lebanese Life Insurance Paid Claims (LBP Billion), 20102014
Table 11: Lebanese Life Insurance Paid Claims (LBP Billion), 20142019
Table 12: Lebanese Life Insurance Incurred Loss (LBP Billion), 20102014
Table 13: Lebanese Life Insurance Incurred Loss (LBP Billion), 20142019
Table 14: Lebanese Life Insurance Number of Policies per Capita, 20102014
Table 15: Lebanese Life Insurance Number of Policies per Capita, 20142019
Table 16: Lebanese Life Insurance Commissions and Expenses (LBP Billion), 20102014
Table 17: Lebanese Life Insurance Commissions and Expenses (LBP Billion), 20142019
Table 18: Lebanese Life Insurance Net Written Premium as a Percentage of Gross Written Premium (%), 20102014
Table 19: Lebanese Life Insurance Net Written Premium as a Percentage of Gross Written Premium (%), 20142019
Table 20: Lebanese Life Insurance Total Assets (LBP Trillion), 20102014
Table 21: Lebanese Life Insurance Total Assets (LBP Trillion), 20142019
Table 22: Lebanese Life Insurance Total Investment Income (LBP Billion), 20102014
Table 23: Lebanese Life Insurance Total Investment Income (LBP Billion), 20142019
Table 24: Lebanese Life Insurance Net Written Premium (LBP Billion), 20102014
Table 25: Lebanese Life Insurance Net Written Premium (LBP Billion), 20142019
Table 26: Lebanese Individual Life Insurance Gross Written Premium by Category (LBP Billion), 20102014
Table 27: Lebanese Individual Life Insurance Gross Written Premium by Category (US$ Million), 20102014
Table 28: Lebanese Individual Life Insurance Gross Written Premium by Category (LBP Billion), 20142019
Table 29: Lebanese Individual Life Insurance Gross Written Premium by Category (US$ Million), 20142019
Table 30: Lebanese Individual Life Insurance Direct Written Premium by Category (LBP Billion), 20102014
Table 31: Lebanese Individual Life Insurance Direct Written Premium by Category (US$ Million), 20102014
Table 32: Lebanese Individual Life Insurance Direct Written Premium by Category (LBP Billion), 20142019
Table 33: Lebanese Individual Life Insurance Direct Written Premium by Category (US$ Million), 20142019
Table 34: Lebanese Individual Life Insurance Policies by Category (Thousand), 20102014
Table 35: Lebanese Individual Life Insurance Policies by Category (Thousand), 20142019
Table 36: Lebanese Individual Endowment Insurance Number of Active Policies (Thousand), 20102014
Table 37: Lebanese Individual Endowment Insurance Number of Active Policies (Thousand), 20142019
Table 38: Lebanese Individual Endowment Insurance Direct Written Premium (LBP Billion), 20102014
Table 39: Lebanese Individual Endowment Insurance Direct Written Premium (LBP Billion), 20142019
Table 40: Lebanese Individual Term Life Insurance Number of Active Policies (Thousand), 20102014
Table 41: Lebanese Individual Term Life Insurance Number of Active Policies (Thousand), 20142019
Table 42: Lebanese Individual Term Life Insurance Direct Written Premium (LBP Billion), 20102014
Table 43: Lebanese Individual Term Life Insurance Direct Written Premium (LBP Billion), 20142019
Table 44: Lebanese Other Individual Life Insurance Number of Active Policies (Thousand), 20102014
Table 45: Lebanese Other Individual Life Insurance Number of Active Policies (Thousand), 20142019
Table 46: Lebanese Other Individual Life Insurance Direct Written Premium (LBP Billion), 20102014
Table 47: Lebanese Other Individual Life Insurance Direct Written Premium (LBP Billion), 20142019
Table 48: Lebanese Linked Insurance Business Number of Active Policies (Thousand), 20102014
Table 49: Lebanese Linked Insurance Business Number of Active Policies (Thousand), 20142019
Table 50: Lebanese Linked Insurance Business Gross Written Premium (LBP Billion), 20102014
Table 51: Lebanese Linked Insurance Business Gross Written Premium (LBP Billion), 20142019
Table 52: Lebanese Linked Insurance Business Direct Written Premium (LBP Billion), 20102014
Table 53: Lebanese Linked Insurance Business Direct Written Premium (LBP Billion), 20142019
Table 54: Lebanese Non-Linked Insurance Business Number of Active Policies (Thousand), 20102014
Table 55: Lebanese Non-Linked Insurance Business Number of Active Policies (Thousand), 20142019
Table 56: Lebanese Non-Linked Insurance Business Gross Written Premium (LBP Billion), 20102014
Table 57: Lebanese Non-Linked Insurance Business Gross Written Premium (LBP Billion), 20142019
Table 58: Lebanese Non-Linked Insurance Business Direct Written Premium (LBP Billion), 20102014
Table 59: Lebanese Non-Linked Insurance Business Direct Written Premium (LBP Billion), 20142019
Table 60: Lebanese Life Insurance Segment Shares (%), 2014
Table 61: Metlife Alico Key Facts
Table 62: Metlife Alico Key Financials (LBP Million), 20102014
Table 63: Bancassurance SAL Key Facts
Table 64: Bancassurance SAL Key Financials (LBP Million), 20102014
Table 65: Allianz SNA SAL Key Facts
Table 66: Allianz SNA SAL Key Financials (LBP Million), 20102014
Table 67: Arope Insurance SAL Key Facts
Table 68: Arope Insurance SAL Key Financials (LBP Million), 20102014
Table 69: LIA Insurance SAL Key Facts
Table 70: LIA Insurance SAL Key Financials (LBP Million), 20102014
Table 71: Adonis Insurance and Reinsurance Co. SAL (ADIR) Key Facts
Table 72: Adonis Insurance and Reinsurance Co. SAL (ADIR) Key Financials (LBP Million), 20102014
Table 73: Sogecap Liban SAL Key Facts
Table 74: Sogecap Liban SAL Key Financials (LBP Million), 20102014
Table 75: Credit Libanais SAL Key Facts
Table 76: Credit Libanais SAL Key Financials (LBP Million), 20102014
Table 77: Axa ME SAL Key Facts
Table 78: Axa ME SAL Key Financials (LBP Million), 20102014
Table 79: Bankers Assurance SAL Key Facts
Table 80: Bankers Assurance SAL Key Financials (LBP Million), 20102014
Table 81: Lebanon Insurance Regulatory Framework Key Features
Table 82: Lebanon Life Insurance Regulatory Framework
Table 83: Lebanon Property Insurance Regulatory Framework
Table 84: Lebanon Motor Insurance Regulatory Framework
Table 85: Lebanon Liability Insurance Regulatory Framework
Table 86: Lebanon Third-Party Liability Cover Limits
Table 87: Lebanon Amendment of Deemed Profit Rates
Table 88: Lebanon Corporate Tax Rates for the Financial Year 2015
Table 89: Insurance Industry Definitions

List of Figures
Figure 1: Lebanese Real GDP (LBP Trillion), 20102019
Figure 2: LBPUS$ Exchange Rate, 20102019
Figure 3: Lebanese Consumer Price Inflation, 20102019
Figure 4:Lebanese Current Account Balance as Percentage of GDP (%), 20102014
Figure 5: Lebanese Unemployment Rate, 20102019
Figure 6: Lebanese Population by Age Group, 19912025
Figure 7: Lebanese Life Insurance Gross Written Premium by Category (LBP Billion), 20102019
Figure 8: Lebanese Life Insurance Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Lebanese Life Insurance Gross Written Premium Dynamics by Segment (20102019)
Figure 10: Lebanese Life Insurance Net Earned Premium (LBP Billion), 20102014
Figure 11: Lebanese Life Insurance Net Earned Premium (LBP Billion), 20142019
Figure 12: Lebanese Life Insurance Paid Claims (LBP Billion), 20102014
Figure 13: Lebanese Life Insurance Paid Claims (LBP Billion), 20142019
Figure 14: Lebanese Life Insurance Incurred Loss (LBP Billion), 20102014
Figure 15: Lebanese Life Insurance Incurred Loss (LBP Billion), 20142019
Figure 16: Lebanese Life Insurance Number of Policies per Capita, 20102014
Figure 17: Lebanese Life Insurance Number of Policies per Capita, 20142019
Figure 18: Lebanese Life Insurance Commissions and Expenses (LBP Billion), 20102014
Figure 19: Lebanese Life Insurance Commissions and Expenses (LBP Billion), 20142019
Figure 20: Lebanese Life Insurance Net Written Premium as a Percentage of Gross Written Premium (%), 20102014
Figure 21: Lebanese Life Insurance Net Written Premium as a Percentage of Gross Written Premium (%), 20142019
Figure 22: Lebanese Life Insurance Total Assets (LBP Trillion), 20102014
Figure 23: Lebanese Life Insurance Total Assets (LBP Trillion), 20142019
Figure 24: Lebanese Life Insurance Total Investment Income (LBP Billion), 20102014
Figure 25: Lebanese Life Insurance Total Investment Income (LBP Billion), 20142019
Figure 26: Lebanese Life Insurance Net Written Premium (LBP Billion), 20102014
Figure 27: Lebanese Life Insurance Net Written Premium (LBP Billion), 20142019
Figure 28: Lebanese Life Insurance Investment Portfolio (LBP Billion), 20102014
Figure 29: Lebanese Life Insurance Investment Portfolio, 2010 and 2014
Figure 30: Lebanese Life Insurance Penetration (%), 20102014
Figure 31: Lebanese Life Insurance Direct Premium per Capita (LBP), 20102014
Figure 32: Lebanese Life Insurance Number of Active Policies (Thousand), 20102014
Figure 33: Lebanese Life Insurance Number of Active Policies (Thousand), 20142019
Figure 34: Lebanese Life Insurance Total Investments (LBP Billion), 20102014
Figure 35: Lebanese Individual Life Insurance Gross Written Premium by Category (LBP Billion), 20102019
Figure 36: Lebanese Individual Life Insurance Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 37: Lebanese Individual Life Insurance Gross Written Premium Dynamics by Category, 20102019
Figure 38: Lebanese Individual Life Insurance Direct Written Premium by Category (LBP Billion), 20102019
Figure 39: Lebanese Individual Life Insurance Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 40: Lebanese Individual Life Insurance Direct Written Premium Dynamics by Category, 20102019
Figure 41: Lebanese Individual Life Insurance Policies by Category (Thousand), 20102019
Figure 42: Lebanese Individual Life Insurance Policies by Category (Percentage Share), 2014 and 2019
Figure 43: Lebanese Individual Life Insurance Policies Dynamics by Category, 20102019
Figure 44: Lebanese Individual Endowment Insurance Number of Active Policies (Thousand), 20102014
Figure 45: Lebanese Individual Endowment Insurance Number of Active Policies (Thousand), 20142019
Figure 46: Lebanese Individual Endowment Insurance Direct Written Premium (LBP Billion), 20102014
Figure 47: Lebanese Individual Endowment Insurance Direct Written Premium (LBP Billion), 20142019
Figure 48: Lebanese Individual Term Life Insurance Number of Active Policies (Thousand), 20102014
Figure 49: Lebanese Individual Term Life Insurance Number of Active Policies (Thousand), 20142019
Figure 50: Lebanese Individual Term Life Insurance Direct Written Premium (LBP Billion), 20102014
Figure 51: Lebanese Individual Term Life Insurance Direct Written Premium (LBP Billion), 20142019
Figure 52: Lebanese Other Individual Life Insurance Number of Active Policies (Thousand), 20102014
Figure 53: Lebanese Other Individual Life Insurance Number of Active Policies (Thousand), 20142019
Figure 54: Lebanese Other Individual Life Insurance Direct Written Premium (LBP Billion), 20102014
Figure 55: Lebanese Other Individual Life Insurance Direct Written Premium (LBP Billion), 20142019
Figure 56: Lebanese Linked Insurance Business Number of Active Policies (Thousand), 20102014
Figure 57: Lebanese Linked Insurance Business Number of Active Policies (Thousand), 20142019
Figure 58: Lebanese Linked Insurance Business Gross Written Premium (LBP Billion), 20102014
Figure 59: Lebanese Linked Insurance Business Gross Written Premium (LBP Billion), 20142019
Figure 60: Lebanese Linked Insurance Business Direct Written Premium (LBP Billion), 20102014
Figure 61: Lebanese Linked Insurance Business Direct Written Premium (LBP Billion), 20142019
Figure 62: Lebanese Non-Linked Insurance Business Number of Active Policies (Thousand), 20102014
Figure 63: Lebanese Non-Linked Insurance Business Number of Active Policies (Thousand), 20142019
Figure 64: Lebanese Non-Linked Insurance Business Gross Written Premium (LBP Billion), 20102014
Figure 65: Lebanese Non-Linked Insurance Business Gross Written Premium (LBP Billion), 20142019
Figure 66: Lebanese Non-Linked Insurance Business Direct Written Premium (LBP Billion), 20102014
Figure 67: Lebanese Non-Linked Insurance Business Direct Written Premium (LBP Billion), 20142019
Figure 68: Lebanese Life Insurance Segment Shares (%), 2014
Figure 69: Lebanon Insurance Supervision and Control at Various Levels
Figure 70: Lebanon Insurance Regulatory Frameworks for Company Registration and Operation

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