The Insurance Control Commission published its “Insurance Sector Quarterly Report” conveying a 4.53% annual contraction in the sector’s gross written premiums to $1,629.48 million in 2022, compared to $1,706.84 million in 2021. In detail, life insurance premiums dropped by 23.10% to $267.66 million, outweighing the 0.22% rise in non-life insurance premiums to $1,361.82 million. The motor insurance segment amassed 37.39% of the Lebanese insurance sector’s gross written premiums, followed by the health (30.65%), life (16.43%), and property & casualty (15.53%) segments. It is worth noting, in this vein, that Bankers led the list of insurance companies in Lebanon in terms of gross written premiums, which stood at $173.11 million in 2022 (10.62% market share), followed by Fidelity ($136.90 million; <8.40%>), Medgulf ($132.80 million; <8.15%>), and ALICO ($114.34 million; <7.02%>), only to name a few. Conversely, the Lebanese insurance sector’s paid benefits increased by 26.97% in 2022 to $1,548.14 million, up from $1,219.29 million a year before on the back of some 37.96% expansion in non-life insurance reported claims to $1,165.99 million, coupled with a 2.14% rise in life insurance reported claims to $382.15 million. Claims were mostly concentrated in the health insurance segment (72.39%), followed by the motor (19.62%), life (4.81%), and property & casualty (3.18%) insurance segments. Furthermore, the Lebanese insurance sector’s expenditures for acquisition and administration came in 17.88% higher on a yearly basis at $663.38 million, while it registered a 56.45% drop in net investment income to $37.76 million in comparison with a net investment income of $86.70 million in 2021.