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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Main Author: World Bank
Format: Financial Sector Assessment Program (FSAP)
Language:English
en_US
Published: Washington, DC 2014
Subjects:
TAX
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
id okr-10986-16685
recordtype oai_dc
spelling okr-10986-166852021-04-23T14:03:32Z Lebanon - The Insurance Sector : A Market and Risk Based Review World Bank ACCOUNTING AGENTS BANK POLICY BARRIER BARRIER TO ENTRY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS OPPORTUNITIES CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CASH FLOW CASH FLOW UNDERWRITING CATASTROPHES COMMISSIONS COMPENSATION COMPLEX RISK COMPULSORY INSURANCE CONSUMER PROTECTION CORPORATE BONDS CORPORATE GOVERNANCE COVERAGE CURRENCY DEMOGRAPHIC DEPOSITS EXPENSE RATIO EXPOSURE EXPOSURES FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SUPERVISION FIXED ASSETS FIXED INTEREST FOREIGN INSURERS FRAUD GOVERNMENT BONDS GROWTH RATES INCOME INFLATION INFORMAL INSURANCE INSURABILITY INSURANCE INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE COVERAGE INSURANCE GROWTH INSURANCE LAW INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PREMIUM INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE SUPERVISORS INSURANCES INSURER INSURERS INTERNAL CONTROL INTERNATIONAL STANDARDS INVESTMENT OPTIONS INVESTMENT PRODUCTS JURISDICTION JURISDICTIONS LAWS LEVEL PLAYING FIELD LIABILITY LIFE INSURANCE LIFE INSURANCE PREMIUM LIFE INSURANCES LIFE INSURERS LIQUID ASSETS LOCAL CURRENCY LONG TERM SAVING LOSS RATIO MARGIN REQUIREMENT MARGIN REQUIREMENTS MARKET DEVELOPMENT MARKET PARTICIPANTS MARKET PENETRATION MARKET SHARE MARKET SIZE MATURITY MEDICAL INSURANCE MINIMUM CAPITAL REQUIREMENTS MOTOR INSURANCE NEW MARKETS NEW PRODUCTS NON LIFE INSURANCE NON-LIFE INSURANCE OPERATIONAL RISK PENSION PENSION PRODUCT PORTFOLIO PREMIUMS PRIVATE SECTOR DEVELOPMENT PROFITABILITY PROTECTION OF POLICYHOLDER RATE OF GROWTH RATES REGULATORY SYSTEM REINSURANCE REINSURERS RESERVES RETIREMENT SAVING RISK ASSESSMENT RISK EXPOSURE RISK MANAGEMENT RISK PROFILE SAVINGS SECURITIES SHAREHOLDERS SOLVENCY STOCKS TAX TAX EXEMPTIONS TECHNICAL ASSISTANCE TERM DEPOSITS 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. 2014-01-29T21:04:55Z 2014-01-29T21:04:55Z 2013-12 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 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Middle East and North Africa Lebanon
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCOUNTING
AGENTS
BANK POLICY
BARRIER
BARRIER TO ENTRY
BROKER
BROKERAGE
BROKERAGE FIRMS
BROKERS
BUSINESS OPPORTUNITIES
CAPITAL CONSTRAINTS
CAPITAL REQUIREMENTS
CASH FLOW
CASH FLOW UNDERWRITING
CATASTROPHES
COMMISSIONS
COMPENSATION
COMPLEX RISK
COMPULSORY INSURANCE
CONSUMER PROTECTION
CORPORATE BONDS
CORPORATE GOVERNANCE
COVERAGE
CURRENCY
DEMOGRAPHIC
DEPOSITS
EXPENSE RATIO
EXPOSURE
EXPOSURES
FINANCIAL PERFORMANCE
FINANCIAL SECTOR
FINANCIAL STABILITY
FINANCIAL SUPERVISION
FIXED ASSETS
FIXED INTEREST
FOREIGN INSURERS
FRAUD
GOVERNMENT BONDS
GROWTH RATES
INCOME
INFLATION
INFORMAL INSURANCE
INSURABILITY
INSURANCE
INSURANCE COMPANY
INSURANCE COMPANY INVESTMENTS
INSURANCE COVERAGE
INSURANCE GROWTH
INSURANCE LAW
INSURANCE MARKET
INSURANCE MARKETS
INSURANCE PENETRATION
INSURANCE PREMIUM
INSURANCE PRODUCTS
INSURANCE REGULATION
INSURANCE SUPERVISORS
INSURANCES
INSURER
INSURERS
INTERNAL CONTROL
INTERNATIONAL STANDARDS
INVESTMENT OPTIONS
INVESTMENT PRODUCTS
JURISDICTION
JURISDICTIONS
LAWS
LEVEL PLAYING FIELD
LIABILITY
LIFE INSURANCE
LIFE INSURANCE PREMIUM
LIFE INSURANCES
LIFE INSURERS
LIQUID ASSETS
LOCAL CURRENCY
LONG TERM SAVING
LOSS RATIO
MARGIN REQUIREMENT
MARGIN REQUIREMENTS
MARKET DEVELOPMENT
MARKET PARTICIPANTS
MARKET PENETRATION
MARKET SHARE
MARKET SIZE
MATURITY
MEDICAL INSURANCE
MINIMUM CAPITAL REQUIREMENTS
MOTOR INSURANCE
NEW MARKETS
NEW PRODUCTS
NON LIFE INSURANCE
NON-LIFE INSURANCE
OPERATIONAL RISK
PENSION
PENSION PRODUCT
PORTFOLIO
PREMIUMS
PRIVATE SECTOR DEVELOPMENT
PROFITABILITY
PROTECTION OF POLICYHOLDER
RATE OF GROWTH
RATES
REGULATORY SYSTEM
REINSURANCE
REINSURERS
RESERVES
RETIREMENT SAVING
RISK ASSESSMENT
RISK EXPOSURE
RISK MANAGEMENT
RISK PROFILE
SAVINGS
SECURITIES
SHAREHOLDERS
SOLVENCY
STOCKS
TAX
TAX EXEMPTIONS
TECHNICAL ASSISTANCE
TERM DEPOSITS
spellingShingle ACCOUNTING
AGENTS
BANK POLICY
BARRIER
BARRIER TO ENTRY
BROKER
BROKERAGE
BROKERAGE FIRMS
BROKERS
BUSINESS OPPORTUNITIES
CAPITAL CONSTRAINTS
CAPITAL REQUIREMENTS
CASH FLOW
CASH FLOW UNDERWRITING
CATASTROPHES
COMMISSIONS
COMPENSATION
COMPLEX RISK
COMPULSORY INSURANCE
CONSUMER PROTECTION
CORPORATE BONDS
CORPORATE GOVERNANCE
COVERAGE
CURRENCY
DEMOGRAPHIC
DEPOSITS
EXPENSE RATIO
EXPOSURE
EXPOSURES
FINANCIAL PERFORMANCE
FINANCIAL SECTOR
FINANCIAL STABILITY
FINANCIAL SUPERVISION
FIXED ASSETS
FIXED INTEREST
FOREIGN INSURERS
FRAUD
GOVERNMENT BONDS
GROWTH RATES
INCOME
INFLATION
INFORMAL INSURANCE
INSURABILITY
INSURANCE
INSURANCE COMPANY
INSURANCE COMPANY INVESTMENTS
INSURANCE COVERAGE
INSURANCE GROWTH
INSURANCE LAW
INSURANCE MARKET
INSURANCE MARKETS
INSURANCE PENETRATION
INSURANCE PREMIUM
INSURANCE PRODUCTS
INSURANCE REGULATION
INSURANCE SUPERVISORS
INSURANCES
INSURER
INSURERS
INTERNAL CONTROL
INTERNATIONAL STANDARDS
INVESTMENT OPTIONS
INVESTMENT PRODUCTS
JURISDICTION
JURISDICTIONS
LAWS
LEVEL PLAYING FIELD
LIABILITY
LIFE INSURANCE
LIFE INSURANCE PREMIUM
LIFE INSURANCES
LIFE INSURERS
LIQUID ASSETS
LOCAL CURRENCY
LONG TERM SAVING
LOSS RATIO
MARGIN REQUIREMENT
MARGIN REQUIREMENTS
MARKET DEVELOPMENT
MARKET PARTICIPANTS
MARKET PENETRATION
MARKET SHARE
MARKET SIZE
MATURITY
MEDICAL INSURANCE
MINIMUM CAPITAL REQUIREMENTS
MOTOR INSURANCE
NEW MARKETS
NEW PRODUCTS
NON LIFE INSURANCE
NON-LIFE INSURANCE
OPERATIONAL RISK
PENSION
PENSION PRODUCT
PORTFOLIO
PREMIUMS
PRIVATE SECTOR DEVELOPMENT
PROFITABILITY
PROTECTION OF POLICYHOLDER
RATE OF GROWTH
RATES
REGULATORY SYSTEM
REINSURANCE
REINSURERS
RESERVES
RETIREMENT SAVING
RISK ASSESSMENT
RISK EXPOSURE
RISK MANAGEMENT
RISK PROFILE
SAVINGS
SECURITIES
SHAREHOLDERS
SOLVENCY
STOCKS
TAX
TAX EXEMPTIONS
TECHNICAL ASSISTANCE
TERM DEPOSITS
World Bank
Lebanon - The Insurance Sector : A Market and Risk Based Review
geographic_facet Middle East and North Africa
Lebanon
description 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.
format Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
author World Bank
author_facet World Bank
author_sort World Bank
title Lebanon - The Insurance Sector : A Market and Risk Based Review
title_short Lebanon - The Insurance Sector : A Market and Risk Based Review
title_full Lebanon - The Insurance Sector : A Market and Risk Based Review
title_fullStr Lebanon - The Insurance Sector : A Market and Risk Based Review
title_full_unstemmed Lebanon - The Insurance Sector : A Market and Risk Based Review
title_sort lebanon - the insurance sector : a market and risk based review
publisher Washington, DC
publishDate 2014
url 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
_version_ 1764434639041069056