Lebanon - The Insurance Sector : A Market and Risk Based Review
This note summarizes the conclusions of the review of the insurance sector in the Lebanon as part of the Financial Sector Assessment Program (FSAP). The main objectives of the assessment are to review the performance and structure of the insurance...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/12/18862283/lebanon-financial-sector-assessment-program-insurance-sector-market-risk-based-review-technical-note http://hdl.handle.net/10986/16685 |
| Summary: | This note summarizes the conclusions of
the review of the insurance sector in the Lebanon as part of
the Financial Sector Assessment Program (FSAP). The main
objectives of the assessment are to review the performance
and structure of the insurance sector with respect to: the
potential exposure of the sector to vulnerabilities, either
generated from the sector or in response to other
circumstances outside the sector that could either be
magnified or dampened by the sector; the potential for the
sector to grow and develop, in its own context and also to
contribute to the overall long term growth and development
of the economy and the well-being of the Argentine people;
and the relationship between the oversight and regulatory
arrangements for the sector against international norms and
best practices. The note focusses, primarily, on the
'developmental' objective. The note is prepared in
varying levels of detail selectively identifying then
developing issues and based firmly in an analysis of the
existing market situation and performance. The insurance
sector is material compared to other markets in the region
but small by worldwide standards. The sector has grown in
nominal and real terms supported by growth in motor and
medical insurance. Life insurance growth has been supported
by the development of a bancassurance model, including the
introduction of single premium credit life products. |
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