|
Lebanese insurers generated total non-life premiums of US$720 million last year, compared to $590.5 million in 2008.
According to data from media reports, MEDGULF retained its leading position in non-life insurance market with $94.1 million in premiums, followed by Bankers with $67.5 million, AROPE with $47.8 million, AXA Middle East with $46.9 million, and Allianz SNA with $46.1 million. In total, the top five non-life insurers accounted for 42% market share in 2009.
The reports attributed the significant growth in non-life premiums to the increase in comprehensive car insurance related to auto loans for new cars sold, as this class of business replaced health insurance as the main source of premiums for the industry.
|
