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Personal Accident and Health Insurance in Lebanon, Key Trends and Opportunities to 2019

Published By :

Timetric

Published Date : Apr 2016

Category :

Health Insurance

No. of Pages : 112 Pages

Synopsis
Timetrics 'Personal Accident and Health Insurance in Lebanon, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Lebanese personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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 'Personal Accident and Health Insurance in Lebanon, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Lebanese personal accident and health insurance segment, including:

The Lebanese personal accident and health insurance segments growth prospects by insurance category

Key trends, drivers and challenges for the personal accident and health insurance segment

A comprehensive overview of the Lebanese economy and demographics

The various distribution channels in the Lebanese personal accident and health insurance segment

Details of the competitive landscape in the personal accident and health insurance segment in Lebanon

Details of regulatory policy applicable to the Lebanese insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Lebanon:

It provides historical values for the Lebanese personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2019.

It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

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

Assess the competitive dynamics in the personal accident and health 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
Personal accident and health insurance was the second-largest segment in the Lebanese insurance industry in 2014, accounting for 34.5% of its gross written premium; this figure is expected to reach 40.8% in 2019.

Health insurance was the largest category in terms of gross written premium, accounting for 85.5% of the segment in 2014.

The aging population is expected to create demand for private health insurance products over the forecast period.

Brokers are popular among Lebanese personal accident and health insurers, as they directly interact with customers and build strong knowledge-sharing of their specific requirements.

The Lebanese personal accident and health segment consists of both domestic and foreign insurers. The segment is highly concentrated, with the 10 leading companies accounting for 77.5% of the segments total gross written premium in 2014.
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Personal Accident and Health Insurance Segment Outlook
4.1 Key Drivers
4.2 Key Trends
4.3 Challenges
4.4 Personal Accident and Health Insurance Growth Prospects by Category
4.4.1 Personal accident insurance
4.4.2 Health insurance
5 Analysis by Distribution Channel
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Lebanese Personal Accident and Health Insurance Segment
6.2.1 Medgulf Insurance and Reinsurance Co. SAL company overview
6.2.2 Bankers Assurance SAL company overview
6.2.3 Axa ME SAL company overview
6.2.4 Allianz SNA SAL company overview
6.2.5 Fidelity Assurance & Reinsurance Co. SAL company overview
6.2.6 Metlife Alico company overview
6.2.7 Libano-Suisse Insurance Co. SAL company overview
6.2.8 Cumberland Insurance and Reinsurance Company SAL company overview
6.2.9 LIA Insurance SAL company overview
6.2.10 Al Mashrek Insurance & Reinsurance 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 Personal Accident and Health Insurance Key Facts, 2014
Table 2: Lebanese Personal Accident and Health Insurance Segment Shares of the Top Insurers, 2014
Table 3: Lebanese Government Credit Ratings
Table 4: Lebanese Personal Accident and Health Insurance Gross Written Premium by Category (LBP Billion), 20102014
Table 5: Lebanese Personal Accident and Health Insurance Gross Written Premium by Category (US$ Million), 20102014
Table 6: Lebanese Personal Accident and Health Insurance Gross Written Premium by Category (LBP Billion), 20142019
Table 7: Lebanese Personal Accident and Health Insurance Gross Written Premium by Category (US$ Million), 20142019
Table 8: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (LBP Billion), 20102014
Table 9: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (US$ Million), 20102014
Table 10: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (LBP Billion), 20142019
Table 11: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (US$ Million), 20142019
Table 12: Lebanese Personal Accident and Health Insurance Net Earned Premium (LBP Billion), 20102014
Table 13: Lebanese Personal Accident and Health Insurance Net Earned Premium (LBP Billion), 20142019
Table 14: Lebanese Personal Accident and Health Insurance Paid Claims by Category (LBP Billion), 20102014
Table 15: Lebanese Personal Accident and Health Insurance Paid Claims by Category (US$ Million), 20102014
Table 16: Lebanese Personal Accident and Health Insurance Paid Claims by Category (LBP Billion), 20142019
Table 17: Lebanese Personal Accident and Health Insurance Paid Claims by Category (US$ Million), 20142019
Table 18: Lebanese Personal Accident and Health Insurance Incurred Loss by Category (LBP Billion), 20102014
Table 19: Lebanese Personal Accident and Health Insurance Incurred Loss by Category (US$ Million), 20102014
Table 20: Lebanese Personal Accident and Health Insurance Incurred Loss by Category (LBP Billion), 20142019
Table 21: Lebanese Personal Accident and Health Insurance Incurred Loss by Category (US$ Million), 20142019
Table 22: Lebanese Personal Accident and Health Insurance Net Written Premium by Category (LBP Billion), 20102014
Table 23: Lebanese Personal Accident and Health Insurance Net Written Premium by Category (US$ Million), 20102014
Table 24: Lebanese Personal Accident and Health Insurance Net Written Premium by Category (LBP Billion), 20142019
Table 25: Lebanese Personal Accident and Health Insurance Net Written Premium by Category (US$ Million), 20142019
Table 26: Lebanese Personal Accident and Health Insurance Loss Ratio (%), 20102014
Table 27: Lebanese Personal Accident and Health Insurance Loss Ratio (%), 20142019
Table 28: Lebanese Personal Accident and Health Insurance Commission and Expenses (LBP Billion), 20102014
Table 29: Lebanese Personal Accident and Health Insurance Commission and Expenses (LBP Billion), 20142019
Table 30: Lebanese Personal Accident and Health Insurance Combined Ratio (%), 20102014
Table 31: Lebanese Personal Accident and Health Insurance Combined Ratio (%), 20142019
Table 32: Lebanese Personal Accident and Health Insurance Number of Policies per Capita, 20102014
Table 33: Lebanese Personal Accident and Health Insurance Number of Policies per Capita, 20142019
Table 34: Lebanese Personal Accident and Health Insurance Total Assets (LBP Billion), 20102014
Table 35: Lebanese Personal Accident and Health Insurance Total Assets (LBP Billion), 20142019
Table 36: Lebanese Personal Accident and Health Insurance Total Investment Income (LBP Billion), 20102014
Table 37: Lebanese Personal Accident and Health Insurance Total Investment Income (LBP Billion), 20142019
Table 38: Lebanese Personal Accident and Health Insurance Net Written Premium (% of GWP), 20102014
Table 39: Lebanese Personal Accident and Health Insurance Net Written Premium (% of GWP), 20142019
Table 40: Lebanese Personal Accident Insurance Number of Policies Sold (Thousand), 20102014
Table 41: Lebanese Personal Accident Insurance Number of Policies Sold (Thousand), 20142019
Table 42: Lebanese Personal Accident Insurance Direct Written Premium (LBP Billion), 20102014
Table 43: Lebanese Personal Accident Insurance Direct Written Premium (LBP Billion), 20142019
Table 44: Lebanese Personal Accident Insurance Loss Ratio (%), 20102014
Table 45: Lebanese Personal Accident Insurance Loss Ratio (%), 20142019
Table 46: Lebanese Health Insurance Direct Written Premium (LBP Billion), 20102014
Table 47: Lebanese Health Insurance Direct Written Premium (LBP Billion), 20142019
Table 48: Lebanese Health Insurance Paid Claims (LBP Billion), 20102014
Table 49: Lebanese Health Insurance Paid Claims (LBP Billion), 20142019
Table 50: Lebanese Health Insurance Loss Ratio (%), 20102014
Table 51: Lebanese Health Insurance Loss Ratio (%), 20142019
Table 52: Shares of Key Insurers in the Lebanese Personal Accident and Health Insurance Segment (%), 2014
Table 53: Medgulf Insurance and Reinsurance Co. SAL Key Facts
Table 54: Medgulf Insurance and Reinsurance Co. SAL Key Financials (LBP Million), 20102014
Table 55: Bankers Assurance SAL Key Facts
Table 56: Bankers Assurance SAL Key Financials (LBP Million), 20102014
Table 57: Axa ME SAL Key Facts
Table 58: Axa ME SAL Key Financials (LBP Million), 20102014
Table 59: Allianz SNA SAL Key Facts
Table 60: Allianz SNA SAL Key Financials (LBP Million), 20102014
Table 61: Fidelity Assurance & Reinsurance Co. SAL Key Facts
Table 62: Fidelity Assurance & Reinsurance Co. SAL Key Financials (LBP Million), 20102014
Table 63: Metlife Alico Key Facts
Table 64: Metlife Alico Key Financials (LBP Million), 20102014
Table 65: Libano-Suisse Insurance Co. SAL Key Facts
Table 66: Libano-Suisse Insurance Co. SAL Key Financials (LBP Million), 20102014
Table 67: Cumberland Insurance and Reinsurance Company SAL Key Facts
Table 68: Cumberland Insurance and Reinsurance Company 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: Al Mashrek Insurance & Reinsurance SAL Key Facts
Table 72: Al Mashrek Insurance & Reinsurance SAL Key Financials (LBP Million), 20102014
Table 73: Lebanon Insurance Regulatory Framework Key Features
Table 74: Lebanon Life Insurance Regulatory Framework
Table 75: Lebanon Property Insurance Regulatory Framework
Table 76: Lebanon Motor Insurance Regulatory Framework
Table 77: Lebanon Liability Insurance Regulatory Framework
Table 78: Lebanon Third-Party Liability Cover Limits
Table 79: Lebanon Amendment of Deemed Profit Rates
Table 80: Lebanon Corporate Tax Rates for the Financial Year 2015
Table 81: 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 Personal Accident and Health Insurance Gross Written Premium by Category (LBP Billion), 20102019
Figure 8: Lebanese Personal Accident and Health Insurance Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Lebanese Personal Accident and Health Insurance Gross Written Premium Dynamics by Category, 20102019
Figure 10: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (LBP Billion), 20102019
Figure 11: Lebanese Personal Accident and Health Insurance Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 12: Lebanese Personal Accident and Health Insurance Gross Written Premium Dynamics by Category, 20102019
Figure 13: Lebanese Personal Accident and Health Insurance Net Earned Premium (LBP Billion), 20102014
Figure 14: Lebanese Personal Accident and Health Insurance Net Earned Premium (LBP Billion), 20142019
Figure 15: Lebanese Personal Accident and Health Insurance Paid Claims by Category (LBP Billion), 20102019
Figure 16: Lebanese Personal Accident and Health Insurance Incurred Loss by Category (LBP Billion), 20102019
Figure 17: Lebanese Personal Accident and Health Insurance Net Written Premium by Category (LBP Billion), 20102019
Figure 18: Lebanese Personal Accident and Health Insurance Loss Ratio (%), 20102014
Figure 19: Lebanese Personal Accident and Health Insurance Loss Ratio (%), 20142019
Figure 20: Lebanese Personal Accident and Health Insurance Commission and Expenses (LBP Billion), 20102014
Figure 21: Lebanese Personal Accident and Health Insurance Commission and Expenses (LBP Billion), 20142019
Figure 22: Lebanese Personal Accident and Health Insurance Combined Ratio (%), 20102014
Figure 23: Lebanese Personal Accident and Health Insurance Combined Ratio (%), 20142019
Figure 24: Lebanese Personal Accident and Health Insurance Number of Policies per Capita, 20102014
Figure 25: Lebanese Personal Accident and Health Insurance Number of Policies per Capita, 20142019
Figure 26: Lebanese Personal Accident and Health Insurance Total Assets (LBP Billion), 20102014
Figure 27: Lebanese Personal Accident and Health Insurance Total Assets (LBP Billion), 20142019
Figure 28: Lebanese Personal Accident and Health Insurance Total Investment Income (LBP Billion), 20102014
Figure 29: Lebanese Personal Accident and Health Insurance Total Investment Income (LBP Billion), 20142019
Figure 30: Lebanese Personal Accident and Health Insurance Net Written Premium (% of GWP), 20102014
Figure 31: Lebanese Personal Accident and Health Insurance Net Written Premium (% of GWP), 20142019
Figure 32: Lebanese Personal Accident and Health Insurance Investment Portfolio (LBP Billion), 20102014
Figure 33: Lebanese Personal Accident and Health Insurance Investment Portfolio (% Share), 2010 and 2014
Figure 34: Lebanese Personal Accident and Health Insurance Penetration (%), 20102014
Figure 35: Lebanese Personal Accident and Health Insurance Number of Policies Sold (Thousand), 20102014
Figure 36: Lebanese Personal Accident and Health Insurance Number of Policies Sold (Thousand), 20142019
Figure 37: Lebanese Personal Accident and Health Insurance Direct Premium per Capita (LBP), 20102014
Figure 38: Lebanese Personal Accident Insurance Number of Policies Sold (Thousand), 20102014
Figure 39: Lebanese Personal Accident Insurance Number of Policies Sold (Thousand), 20142019
Figure 40: Lebanese Personal Accident Insurance Direct Written Premium (LBP Billion), 20102014
Figure 41: Lebanese Personal Accident Insurance Direct Written Premium (LBP Billion), 20142019
Figure 42: Lebanese Personal Accident Insurance Loss Ratio (%), 20102014
Figure 43: Lebanese Personal Accident Insurance Loss Ratio (%), 20142019
Figure 44: Lebanese Health Insurance Direct Written Premium (LBP Billion), 20102014
Figure 45: Lebanese Health Insurance Direct Written Premium (LBP Billion), 20142019
Figure 46: Lebanese Health Insurance Paid Claims (LBP Billion), 20102014
Figure 47: Lebanese Health Insurance Paid Claims (LBP Billion), 20142019
Figure 48: Lebanese Health Insurance Loss Ratio (%), 20102014
Figure 49: Lebanese Health Insurance Loss Ratio (%), 20142019
Figure 50: Shares of Key Insurers in the Lebanese Personal Accident and Health Insurance Segment (%), 2014
Figure 51: Lebanon Insurance Supervision and Control at Various Levels
Figure 52: Lebanon Insurance Regulatory Frameworks for Company Registration and Operation

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