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Economic & Sector Work :: Financial Sector Assessment Program (FSAP)

Lebanon - The Insurance Sector : A Market and Risk Based Review

ACCOUNTING AGENTS BANK POLICY BARRIER BARRIER TO ENTRY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS OPPORTUNITIES CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CASH FLOW CASH FLOW UNDERWRITING CATASTROPHES COMMISSIONS COMPENSATION COMPLEX RISK COMPULSORY INSURANCE CONSUMER PROTECTION CORPORATE BONDS CORPORATE GOVERNANCE COVERAGE CURRENCY DEMOGRAPHIC DEPOSITS EXPENSE RATIO EXPOSURE EXPOSURES FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SUPERVISION FIXED ASSETS FIXED INTEREST FOREIGN INSURERS FRAUD GOVERNMENT BONDS GROWTH RATES INCOME INFLATION INFORMAL INSURANCE INSURABILITY INSURANCE INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE COVERAGE INSURANCE GROWTH INSURANCE LAW INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PREMIUM INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE SUPERVISORS INSURANCES INSURER INSURERS INTERNAL CONTROL INTERNATIONAL STANDARDS INVESTMENT OPTIONS INVESTMENT PRODUCTS JURISDICTION JURISDICTIONS LAWS LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIFE INSURANCE PREMIUM LIFE INSURANCES LIFE INSURERS LIQUID ASSETS LOCAL CURRENCY LONG TERM SAVING LOSS RATIO MARGIN REQUIREMENT MARGIN REQUIREMENTS MARKET DEVELOPMENT MARKET PARTICIPANTS MARKET PENETRATION MARKET SHARE MARKET SIZE MATURITY MEDICAL INSURANCE MINIMUM CAPITAL REQUIREMENTS MOTOR INSURANCE NEW MARKETS NEW PRODUCTS NON LIFE INSURANCE NON-LIFE INSURANCE OPERATIONAL RISK PENSION PENSION PRODUCT PORTFOLIO PREMIUMS PRIVATE SECTOR DEVELOPMENT PROFITABILITY PROTECTION OF POLICYHOLDER RATE OF GROWTH RATES REGULATORY SYSTEM REINSURANCE REINSURERS RESERVES RETIREMENT SAVING RISK ASSESSMENT RISK EXPOSURE RISK MANAGEMENT RISK PROFILE SAVINGS SECURITIES SHAREHOLDERS SOLVENCY STOCKS TAX TAX EXEMPTIONS TECHNICAL ASSISTANCE TERM DEPOSITS
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Washington, DC
Middle East and North Africa | Lebanon
2014-01-29T21:04:55Z | 2014-01-29T21:04:55Z | 2013-12

This note summarizes the conclusions of the review of the insurance sector in the Lebanon as part of the Financial Sector Assessment Program (FSAP). The main objectives of the assessment are to review the performance and structure of the insurance sector with respect to: the potential exposure of the sector to vulnerabilities, either generated from the sector or in response to other circumstances outside the sector that could either be magnified or dampened by the sector; the potential for the sector to grow and develop, in its own context and also to contribute to the overall long term growth and development of the economy and the well-being of the Argentine people; and the relationship between the oversight and regulatory arrangements for the sector against international norms and best practices. The note focusses, primarily, on the 'developmental' objective. The note is prepared in varying levels of detail selectively identifying then developing issues and based firmly in an analysis of the existing market situation and performance. The insurance sector is material compared to other markets in the region but small by worldwide standards. The sector has grown in nominal and real terms supported by growth in motor and medical insurance. Life insurance growth has been supported by the development of a bancassurance model, including the introduction of single premium credit life products.

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