“Al Bayan Economic” magazine published in its December 2023 issue (Issue No. 625) an overview on the top 367 insurance companies in the MENA region in terms of insurance premiums. More specifically, the article unveiled that written premium collections rose by 13.1% in 2022 to $47.40 billion, from $41.92 billion in 2021. The article also provided insights on other financial metrics for the concerned companies such as total assets, shareholders’ equity, net profit and return on equity. In details total assets increased by 3.53% to $112.75 billion, shareholders’ equity inched upwards by 1.15% to $29.18 billion, while net profit contracted by 25.14% to $1.72 billion.   

From a ranking perspective, Saudi based Tawuniya came in first with some $3.83 billion in written premiums in 2022 (40.43% y-o-y increase), followed by its compatriot Bupa Arabia ($3.71 billion in written premiums, 22.09% y-o-y increase) and Kuwaiti-based Gulf Insurance Group which completed the top 3 list with some $2.74 billion in written premiums (51.47% y-o-y increase).

On the local front, 42 Lebanese companies made it to the list, with Arabia occupying the first position (36^th regionally with some $249.40 million in written premiums and an annual growth of 21.37%), followed by Bankers (53^rd regional rank with some $180.10 million in written premiums), Medgulf (68^th regional rank with some $123.63 million in written premiums), Fidelity (76^th regional rank with some $118.42 million in written premiums) and LIAASSUREX (77^th regional rank with some $118.14 million in written premiums).