The insurance industry in Lebanon is priding itself on a good year in 2011, with measurable partial results documented faster than ever before. Issues that inhibit the sector’s growth, however, do not get resolved; they merely get reiterated. The total gross written premiums of insurance companies in Lebanon reached 14 percent year-on-year growth in the first three quarters of 2011, to $904.4 million. According to a ranking source with knowledge of the insurance industry, this nine-month rate of growth stated in the third Quarterly Report of the Lebanese insurance association is more credible than an earlier figure of 17 percent which the second Quarterly Report gave for the first six months in 2011. However, the 14 percent claim will need to be corroborated by further analysis, the source said. “We have not reached 17 percent full-year growth in more than five years in the local market and 2011 is not
