Higher Costs, High Competition
Despite its weak and fragmented state, Lebanon's Insurance premiums are up by 6% year-on-year to $418m in first quarter of 2015, claims and benefits are down by 1% to $179m.
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Despite its weak and fragmented state, Lebanon's Insurance premiums are up by 6% year-on-year to $418m in first quarter of 2015, claims and benefits are down by 1% to $179m.
Insurance companies play a major role in the economy. However, the year 2014 was a challenging one for Lebanon due to the political and economic situation that impacted the entire region, and also because of the tough competition. Nevertheless, there are two positive facts that stand out.
As one of Qatar's leading financial services institution, Doha Bank has been consistently registering strong growth during the last decade in terms of asset growth, loan growth, deposit growth and increase in shareholders’ value.
Bahous brings diverse insurance experience from reinsurance to retail. He possesses a great talent in integrating big and small businesses to positive effect; and he has also an entrepreneurial style that puts empowerment and quick decision-making at the right time in highly chaotic environments.
BUSINESS LIFE conducted an interview with Engineer Saleh Bin Rashed Al Dhaheri, Chairman of the Executive Council of the GCC Insurance Federation (GIF) and Chairman of the Emirates Insurance Association (EIA) and member of the Board of Directors of Al Dhafra Insurance Company.