The Insurance Control Commission has published the insurance sector annual report for the financial year 2018. The report presents a large number of financial and technical statistics, indicators, and analytics, which the ICC makes available to a large number of stakeholders, including experts, financial analysts, shareholders, and policyholders.
2 OCT 2019
ICC Annual Report 2018
18 SEP 2019
ICC'S first internal workshop on IFRS 17
The Insurance Control Commission organized the first internal workshop on IFRS 17, to which local and international experts were conveyed. In the introductory presentation, the Acting Head of the ICC, Mrs. Nadine El Habbal, confirmed that the Commission intends to stage a frontline involvement in the implementation process of the new reporting standard. Mrs. El Habbal confirmed throughout the day that the ICC will propose a largely prescriptive approach with minimum requirements, and issue clear implementation guidelines to help clarify the way forward.
23 AUG 2019
ICC Second Quarter Report of 2019
The Insurance Control Commission has published its quarterly report on the insurance market for the second quarter of 2019. The report includes a number of dashboards extracted from the analysis of the quarterly regulatory forms filed by the insurance companies.
9 AUG 2019
License suspension of Liberty Insurance Company S.A.L
The Insurance Control Commission suspended the insurance license granted to Liberty Insurance SAL. The decision was driven by sustained material breaches of the insurance regulations in Lebanon. Until further notice, the Company is not allowed to issue or renew any policy contract. Nevertheless, it will continue to service the in-force portfolio and settle its obligations to policyholders.