Life insurance in Lebanon, Key Trends and Opportunities to 2019

Published: Apr, 2016 | Pages: 128 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's '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 (2010-2014) and forecast period (2014-2019).

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 Timetric's 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
Timetric's '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 segment's 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 report's 2010-2014 review period, and projected figures for the 2014-2019 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 industry's total gross written premium.

Lebanon's 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 Content
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 Timetric's 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), 2010-2014
Table 5: Lebanese Life insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 6: Lebanese Life insurance - Gross Written Premium by Category (LBP Billion), 2014-2019
Table 7: Lebanese Life insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 8: Lebanese Life insurance - Net earned Premium (LBP Billion), 2010-2014
Table 9: Lebanese Life insurance - Net earned Premium (LBP Billion), 2014-2019
Table 10: Lebanese Life insurance - Paid Claims (LBP Billion), 2010-2014
Table 11: Lebanese Life insurance - Paid Claims (LBP Billion), 2014-2019
Table 12: Lebanese Life insurance - incurred Loss (LBP Billion), 2010-2014
Table 13: Lebanese Life insurance - incurred Loss (LBP Billion), 2014-2019
Table 14: Lebanese Life insurance - Number of Policies per Capita, 2010-2014
Table 15: Lebanese Life insurance - Number of Policies per Capita, 2014-2019
Table 16: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2010-2014
Table 17: Lebanese Life insurance - Commissions and expenses (LBP Billion), 2014-2019
Table 18: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
Table 19: Lebanese Life insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019
Table 20: Lebanese Life insurance - Total Assets (LBP Trillion), 2010-2014
Table 21: Lebanese Life insurance - Total Assets (LBP Trillion), 2014-2019
Table 22: Lebanese Life insurance - Total investment income (LBP Billion), 2010-2014
Table 23: Lebanese Life insurance - Total investment income (LBP Billion), 2014-2019
Table 24: Lebanese Life insurance - Net Written Premium (LBP Billion), 2010-2014
Table 25: Lebanese Life insurance - Net Written Premium (LBP Billion), 2014-2019
Table 26: Lebanese individual Life insurance - Gross Written Premium by Category (LBP Billion), 2010-2014
Table 27: Lebanese individual Life insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 28: Lebanese individual Life insurance - Gross Written Premium by Category (LBP Billion), 2014-2019
Table 29: Lebanese individual Life insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 30: Lebanese individual Life insurance - Direct Written Premium by Category (LBP Billion), 2010-2014
Table 31: Lebanese individual Life insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 32: Lebanese individual Life insurance - Direct Written Premium by Category (LBP Billion), 2014-2019
Table 33: Lebanese individual Life insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 34: Lebanese individual Life insurance - Policies by Category (Thousand), 2010-2014
Table 35: Lebanese individual Life insurance - Policies by Category (Thousand), 2014-2019
Table 36: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2010-2014
Table 37: Lebanese individual endowment insurance - Number of Active Policies (Thousand), 2014-2019
Table 38: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2010-2014
Table 39: Lebanese individual endowment insurance - Direct Written Premium (LBP Billion), 2014-2019
Table 40: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2010-2014
Table 41: Lebanese individual Term Life insurance - Number of Active Policies (Thousand), 2014-2019
Table 42: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2010-2014
Table 43: Lebanese individual Term Life insurance - Direct Written Premium (LBP Billion), 2014-2019
Table 44: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2010-2014
Table 45: Lebanese Other individual Life insurance - Number of Active Policies (Thousand), 2014-2019
Table 46: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2010-2014
Table 47: Lebanese Other individual Life insurance - Direct Written Premium (LBP Billion), 2014-2019
Table 48: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2010-2014
Table 49: Lebanese Linked insurance Business - Number of Active Policies (Thousand), 2014-2019
Table 50: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014
Table 51: Lebanese Linked insurance Business - Gross Written Premium (LBP Billion), 2014-2019
Table 52: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014
Table 53: Lebanese Linked insurance Business - Direct Written Premium (LBP Billion), 2014-2019
Table 54: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2010-2014
Table 55: Lebanese Non-Linked insurance Business - Number of Active Policies (Thousand), 2014-2019
Table 56: Lebanese Non-Linked insurance Business - Gross Written Premium (LBP Billion), 2010-2014
Table 57: Lebanese Non-Linked insurance Business - Gross Written Premium  (LBP Billion), 2014-2019
Table 58: Lebanese Non-Linked insurance Business - Direct Written Premium (LBP Billion), 2010-2014
Table 59: Lebanese Non-Linked insurance Business - Direct Written Premium  (LBP Billion), 2014-2019
Table 60: Lebanese Life insurance - Segment Shares (%), 2014
Table 61: Metlife Alico - Key Facts
Table 62: Metlife Alico - Key Financials (LBP Million), 2010-2014
Table 63: Bancassurance SAL - Key Facts
Table 64: Bancassurance SAL - Key Financials (LBP Million), 2010-2014
Table 65: Allianz SNA SAL - Key Facts
Table 66: Allianz SNA SAL - Key Financials (LBP Million), 2010-2014
Table 67: Arope insurance SAL - Key Facts
Table 68: Arope insurance SAL - Key Financials (LBP Million), 2010-2014
Table 69: LiA insurance SAL - Key Facts
Table 70: LiA insurance SAL - Key Financials (LBP Million), 2010-2014
Table 71: Adonis insurance and Reinsurance Co. SAL (ADiR) - Key Facts
Table 72: Adonis insurance and Reinsurance Co. SAL (ADiR) - Key Financials (LBP Million), 2010-2014
Table 73: Sogecap Liban SAL - Key Facts
Table 74: Sogecap Liban SAL - Key Financials (LBP Million), 2010-2014
Table 75: Credit Libanais SAL - Key Facts
Table 76: Credit Libanais SAL - Key Financials (LBP Million), 2010-2014
Table 77: Axa Me SAL - Key Facts
Table 78: Axa Me SAL - Key Financials (LBP Million), 2010-2014
Table 79: Bankers Assurance SAL - Key Facts
Table 80: Bankers Assurance SAL - Key Financials (LBP Million), 2010-2014
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