The current geopolitical tensions in the Middle East are being closely monitored by the insurance industry across the region, says the Association of Lebanese Insurance Companies (ACAL).
The insurance industry and the hospital sector have agreed on an increase of up to 6% in contracted hospital rates, instead of the 15% demanded by hospitals.
Arab Reinsurance Company (Arab Re) has signed an agreement to sell its material land holding in Lebanon, with the transaction expected to be completed by December 2028, noted AM Best.
Lebanon ranked 64th out of the 72 largest insurance markets worldwide in terms of premiums in 2024, 37th among 45 emerging markets, and 10th among 13 Arab markets.
The Lebanese Insurance Brokers Syndicate (LIBS) has entered a new phase where its focus is no longer limited to confronting immediate crises, but to building a strategic path that strengthens its presence as a key component of the Lebanese economy.
Arab Reinsurance Company recorded profitable operating results in all of the past five years (2020-2024) and generated a robust return-on-equity ratio of 4.7% in 2024, noted AM Best.
Several representatives of Lebanon's private hospital sector have called out insurers for "payment delays" of several months on benefits covered by insurance policies.
Yallacompare, the UAE-based leading online insurance comparison platform company, has joined COMIN Insurance to form the largest InsurTech group in the region.
The Lebanese cabinet has appointed a new chairman for the insurance sector regulatory body, a post that had been vacant for more than 10 years.
Libano-Suisse Insurance and healthcare benefits management company GlobeMed Lebanon have won a tender from the Order of Engineers and Architects of Beirut (OEAB) to manage health insurance for over 125,000 beneficiaries, including engineers, employees and their families.