Insurance premiums at $1.1 billion

Swiss Re: premiums accounted for 2.8 percent of GDP in 2010

July 11, 2011- An annual survey of the global insurance market indicated that Lebanon ranked in 66th place among 147 markets in terms of nominal premiums generated in 2010. According to the survey conducted by Swiss Re, Lebanon came in 6th place among 12 Arab markets.

Lebanon generated $1.1 billion in total premiums last year, accounting for 0.02 percent of global premiums, and 3.2 percent of premiums generated in the Middle East & Central Asia region.

The country generated $262 million in life premiums and $812 million in non-life premiums (accidents, fire, robbery…).

The survey, reported by Byblos Bank’s Lebanon This Week, estimated the average premiums per capita (Insurance Density) at $252 in 2010, ranking the country in 52nd place globally and in 5th place in the Arab world.

According to the survey, penetration rates represented 2.8 percent of GDP in 2010, ranking the country in 52nd place globally and in third place in the Arab world.