Research and Markets: Jordan and Lebanon Insurance Report 2012 - Insurance Laws May Have Become Outdated.

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/bdf694/jordan_and_lebanon) has announced the addition of the "Jordan and Lebanon Insurance Report 2012" report to their offering.

At first glance, it is obvious that many of the weaknesses that are common to (almost) all the national insurance markets of the Middle East & North Africa (MENA) region feature in Lebanon and Jordan. Neither is a particularly large market in absolute terms - nor will ever be so. In both countries, there are literally dozens of undersized insurers, focusing mainly non non-life lines, who lack economies of scale, access to capital and ability to write risks without buying a lot of reinsurance. Life insurance is underdeveloped.

Nevertheless, there are some very obvious strengths, which are not necessarily shared by the other MENA markets. First, foreign capital and know-how is thick on the ground in both Lebanon and Jordan. In no particular order, Allianz, AXA, Chartis, Sogecap, Munich Re and Zurich each have a presence or an affiliate in at least one of the two markets. MetLife Alico is the dominant player in life insurance in Jordan and may well be so in Lebanon as well.

Several of the key regional insurers - such as MedGulf, Libano-Suisse and Arabia Insurance - are based in Lebanon even if they are mostly underwriting risks in other countries in the region. Interestingly, the largest insurer in Jordan - Arab Orient - is an affiliate of Kuwait's Gulf Insurance.

More crucially, the active trade associations - ACAL in Lebanon and JOIF in Jordan - are working with the regulators to resolve the easily identifiable problems. In both countries, the insurance laws are being modernised. ACAL is advocating changes that will compel insurance companies to become members - and is promoting training and professional development of brokers. ACAL's members are also collaborating through the Motor Risk Centre to improve information on motor risks and to combat fraud more effectively.

Companies Mentioned:

• Allianz
• Arab Insurance Group (ARIG)
• Aviva
• AXA
• Chartis
• Generali
• HSBC Insurance
• MAPFRE
• MetLife ALICO
• RSA
• Zurich Financial Services

For more information visit http://www.researchandmarkets.com/research/bdf694/jordan_and_lebanon