The Insurance Control Commission published its “Insurance Sector Quarterly Report” conveying a sizeable annual increase in the sector’s gross written premiums to LBP 77.10 trillion in 2023, compared to LBP 2.46 trillion in 2022. The rise in gross written premiums may be attributed to the fact that most insurance companies had shifted to pricing premiums in fresh US Dollar on new insurance policies while updating the applicable USD/LBP exchange rate on existing insurance policies priced in local dollars in line with the change in the official exchange rate, not to mention the existence of some previous policies priced in LBP. In detail, life insurance premiums stood at LBP 7.28 trillion, while non-life insurance premiums amounted to LBP 69.82 trillion. The health insurance segment amassed 46.93% of the Lebanese insurance sector’s gross written premiums, followed by the property & casualty (22.06%), motor (21.56%), and life (9.44%) 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 LBP 7.63 trillion in 2023 (9.90% market share), followed by LIA (LBP 7.14 trillion; <9.26%>), Fidelity (LBP 6.82 trillion; <8.85%>), and Medgulf (LBP 5.89 trillion; <7.63%>), only to name a few. Concurrently, the Lebanese insurance sector’s paid benefits reached LBP 46.34 trillion compared to LBP 2.33 trillion in 2022, noting that the non-life segment of paid benefits amounted to LBP 39.10 trillion and the life segment’s paid benefits stood at LBP 7.24 trillion. The number of claims were mostly concentrated in the health insurance segment (76.12%), followed by the motor (17.55%), life (3.18%), and property & casualty (3.16%) insurance segments. Furthermore, the Lebanese insurance sector’s expenditures for acquisition and administration ended the year 2023 up at LBP 23.82 trillion, while net investment income reached LBP 5.34 trillion in comparison with LBP 0.57 trillion in 2022, buoyed by the aforementioned change in insurance pricing methodology.