Figures released by the Insurance Control Commission (ICC) show that the declared net profits of 50 licensed insurance companies in Lebanon reached $167.2m in 2017, constituting an increase of 19.8% from $139.6m in 2016. Net profits from the life category accounted for 65.7% of the sector's net earnings in 2017 relative to 59% in 2016, while those from the non-life segment represented 34.3% of the total compared to 41% in the previous year. The sector's net profit margin reached 11% in 2017, up from 8.9% in 2016. Further, net investment income of the insurance sector totaled $131.5m in 2017 and grew by 0.9% from the preceding year. The sector's return on assets increased from 3% in 2016 to 3.6% in 2017, while its return on equity rose from 12.8% in 2016 to 14.7% in 2017. 

In parallel, the sector's gross written premiums totaled $1.5bn in 2017, down by 2.8% from 2016. They consisted of net premiums that regressed by 1.9% to $1.2bn, policy fees that declined by 7.6% to $219.6m, and the cost of policies that reached $102.4m in 2017 compared to $103.6m in 2016.

Further, net income from the life category totaled $109.9m in 2017 and increased by 33.3% year-on-year, mainly due to a rise of 210.6% in unit-linked net investment income, while net profits from the non-life category amounted to $57.4m and expanded by 0.3% in 2017. The results of the non-life branch show that the health insurance category generated net profits of $15.6m in 2017, followed by the accidents insurance category with $14.5m, fire insurance with $12.9m, motor with $4.4m, civil liability insurance with $3.2m, transportation coverage with $2.7m and contractors all risk insurance with $0.8m. Profits from the contractors all risk segment surged by 146.1% in 2017, those from the civil liability segment rose by 53.7%, net income from the accidents insurance segment increased by 10%, and profits from the fire insurance segment grew by 9.8% year-on-year. In contrast, profits from the transportation insurance segment declined by 59.6%, while those from health insurance regressed by 27% in 2017. In parallel, the credit insurance segment incurred net losses of $0.5m in 2017, nearly doubling from the previous year, while the motor segment posted profits of $4.4m in 2017 compared to losses of $2.2m in 2016.

Further, the sector's gross paid claims reached $904.8m in 2017 and grew by 1.2% from 2016. Also, general expenditures totaled $447m in 2017, down by 4.4% from the previous year, and included $221.7m in brokerage expenses and $170.7m in administration costs, while net reinsurance expenditures reached $51.3m in 2017 and declined by 13.4% from 2016.