Lebanese insurance market: rising profit by 14% in 2018

According to the annual report of the Insurance Control Commission (ICC) the net profit of the Lebanese insurance companies amounted to 174.1 million USD in 2018, a growth of 14% compared to 2017.

The net profit is split into:

• 118 million USD for life insurance, +7% compared to 2017
• 56 million USD for non-life insurance, +32% compared to 2017

This performance is accounted for by the 3% decline in the paid claims and the 1% increase in premiums. The total assets reported on the balance sheet reached 4.9 billion USD at 31 December 2018, that is an increase of 2% in one year.