Insurance articles

Q&A with actuary Ibrahim Muhanna on insurance liabilities amid economic crisis

Q&A with actuary Ibrahim Muhanna on insurance liabilities amid economic crisis

Reading Time: 6 minutes Practically every private household in Lebanon relies on one or other insurance service, beginning with the mandatory protection of motorists under third-party liability insurance or savings schemes offered by life insurers. Services such as health and pension insurance are becoming focuses of attention as the country’s healthcare and employment systems are increasingly challenged. Commercial lines

The art of insurance

Reading Time: 5 minutes Brokers play an important role in highly functional insurance markets, providing clients with advice on risk and policy choices. They often help clients obtain covers, assist them with claims, and act as intermediaries between clients and insurers. But Lebanon’s insurance brokers have faced several difficult years in a row. To gauge the views of licensed

Taking risks

Reading Time: 9 minutes Adding to the misty picture of insurance industry prospects in Lebanon are uncertainties over the sector’s ability to exploit three major opportunities which are slowly taking shape inside and outside of Lebanon: energy, infrastructure, and reconstruction. The book of doubts on the purported three new miracles includes some question marks if the industry will be

In the fog

Reading Time: 9 minutes Assessing the insurance industry of Lebanon at the current junction of global insurance challenges, regional vagaries, domestic economic hurdles, and the country’s ongoing political issues is not without difficulty. Just as with the national economy, there are hopes and interesting prospects, but they are mainly just over the horizon—whether in the reconstruction of war-torn Syria

Going further

Reading Time: 9 minutes Allianz SNA is one of the most active insurance companies in Lebanon and the Middle East. Executive sat down with its Chairman and Regional Chief Executive Officer, Antoine Issa, to talk about the state of the insurance industry and the interconnections between consolidation, governance and institutional investments. E   How do you view Lebanon from

Taking the long view

Reading Time: 5 minutes The task of improving the Lebanese insurance sector through regulatory instruments, financial supervision and increasing governance has been pursued by the Insurance Control Commission (ICC) at the Ministry of Economy and Trade (MoET) for the past 15 years, with growing vigor and ever-increasing activity. To obtain an update on the ICC’s views and projects, Executive

More acquisition than merger

Reading Time: 4 minutes The sale of Al Ittihad al-Watani Insurance evolved over several years and was rumored in the Lebanese market to involve a number of valuation issues before culminating in an acquisition by NASCO Insurance Group. NASCO, whose founding purpose was brokerage activity and whose main focus is insurance broking, pursued the deal on the grounds that

Lapping up management of health and diseases

Reading Time: 8 minutes As the tide of transformation in the insurance industry makes its way across geographies and business lines, it not only floods the field’s core players with uncertainty, but it also affects business models in auxiliary ventures affiliated with insurance. One important auxiliary area consists of enterprises that engage in the management of medical insurance claims.

A desperate chase for consolidation

Reading Time: 9 minutes There is no shortage of challenges present or overdue reforms absent in the insurance sector in Lebanon. The backlog of unsolved issues begins with the need to renew the insurance law that was adopted about the time the Chevrolet Camaro was a new automotive design. It has – albeit once facelifted in the 1990s –

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