“Al Bayan Economic” magazine, the specialized banking, insurance & shipping pan-Arab monthly magazine, published in its March 2025 issue (Issue No. 639) an overview on the non-life insurance premiums collected by the 39 insurance companies operating in Lebanon in the year 2024. The article commented that insurance companies succeeded to some extent in catering their services in Lebanon despite the 16-month war that intensified in September. Always in the same context, the article commented that global reinsurance companies were at first wary of dealing with Lebanese insurance companies during the war, yet were later persuaded by the fact that underwritten premiums are all in fresh U.S. Dollar, mitigating as such exchange rate risks. The article also added that vehicle insurance premiums were outpaced by medical insurance premiums this year, as new car sales continue to be shy due to the absence of lending schemes.

In figures, total gross written premiums (GWPs) improved by 19.27% year-on-year to reach $1.07 billion in 2024 up from $897.95 million in 2023. Bankers (10.04% y-o-y growth; 10.47% market share) and Medgulf (12.50% y-o-y growth; 9.54% market share) preserved their top two positions with respective GWPs of $112.15 million and $102.15 million, yet ceded some market share, followed closely by Fidelity (GWP of $102.14 million and an annual growth of 20.42%) which pipped LIA Assurex (GWP of $98.95 million and an annual growth of 10.69%) to third position. Growth wise, GMI was the fastest climber amongst the top 20 companies list with an ~80% annual growth in GWPs, followed by ALIG (annual growth of 20.52%) and Fidelity, while Commercial was the only company within the top 20 companies to register a negative (25.71%) annual growth. The ten largest insurance companies operating in Lebanon amassed 70.92% of non-life premium collections in 2024, with the twenty largest companies controlling a stake of 92.27%.