As one of the most competitive economic sectors in Lebanon, the insurance sector has been posting profits, challenging the country’s both economic and political conditions. In fact, the insurance market in Lebanon is characterized by its small size and competitive landscape with over 50 companies, including several international and regional businesses. New entrants cannot make it easily due to solvency requirements and an already crowded marketplace. However, the sector is still suffering from an unclear regulatory frame with several laws held at the legislative level reducing the industry’s effectiveness.
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Robust Lebanese Insurance Sector despite Economic and Political Challenges