In need of consolidation

While the Lebanese insurance sector continues to witness a perpetual growth, the Ministry of Economy seems to be unsatisfied with the current insurance law “as it doesn’t provide a clear mechanism

for enforcing penalties on insurance companies,” as it said.


The Ministry which calls for the consolidation of the insurance sector through the merger of inadequately managed firms with more liquid insurers admit that the ratification of a modern insurance law, could upgrade the industry’s standards,  sates Lebanon this Week, Byblos Bank’s economic publication.


According to the Ministry, many insurance companies are selling policies that do not comply with the Ministry’s rules and regulations,” the publication states.


“It said some insurance are selling polices at significantly reduced prices, which raise questions about their ability to fulfill their financial obligations to clients.”


With a total of 54 licensed insurance companies “, insurance premiums increased by 17 percent to $623.3 million in the first half of 2011. In 2010, overall premiums increased by 13 percent, with non life premiums by 12.2 percent, and life premiums by 14.8 percent from previous year.”



Migration to cities is increasing so much that, by 2050, the UN predicts that approximately two thirds of the world’s population will be living in cities.


  • A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
  • The Green Mind Association invited all Green Mind Award Participants, finalists, runner ups and winners to the GREEN MIND DAY on  Jan-16-2013 in Beirut, to create a platform where interested Venture Capital and Potential Investors met with participants.
  • A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.




  1. Moody’s Investors Service indicated that the high level of Central Bank reserves is...
  2. In 2010, the country’s Gross Domestic Product (GDP) grew by 8 percent. The economic forecast...
  3. The General Labor Confederation (GLC) warned that the increase of the value added tax (VAT) rate...
  4. Finally, the electricity bill law is approved by the Lebanese parliament. A draft law allocates $1....
  5. Will the government raise the minimum wage?A scenario, some experts expect will result in layoffs...


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