Insurance 2014 articles

Motor insurance sector faces roadblocks

Motor insurance sector faces roadblocks

One would have expected insurance companies to jump for joy when the parliament passed the 2012 Traffic Law, extending the current third party liability (TPL) for bodily injury to also cover material damage. This would undoubtedly give insurance companies the chance to increase their market in compulsory motor insurance. At Q4 2013, turnover for motor

‘The insurance industry needs more women’

Elie Nasnas is the general manager of AXA Middle East, a Beirut-based insurer affiliated with the leading global insurance brand, AXA. He is also the newest member of the invitation-only MENA Insurance CEO Club, a regional club which is a voice of advocacy on behalf of the insurance industry in the Middle East and North

Trading in an unpredictable region

The Middle East and North Africa (MENA) region has witnessed notable changes in the past few years. Beginning in 2008, the global financial crisis, followed by social and political instability, has badly affected several economies as well as caused significant disruptions in trade. This situation has triggered a surge in demand for credit risk protection

The risk of political violence in Lebanon has grown

Lebanon needs a political violence risk pool

With the recent slew of bombings further entangling Lebanon in the Syrian civil war, political violence insurance in the country is becoming increasingly sought after, as hotels, banks and malls are seeking to protect their assets. This is paired with international reinsurers becoming increasingly weary to underwrite risks in the present volatile situation, resulting in

Insurance market rests assured

The Lebanese insurance market is achieving steady economic performance with incremental business innovations, all the while making very small steps in addressing long-standing issues and concerns. Despite the difficult macroeconomic context of Lebanon’s distressed security and economic environment, the latest available data on insurance premiums are mostly in positive territory. Total gross premiums in 2013