The current situation in Lebanon and the challenges raised by the fragmentation of the healthcare system at the level of the providers and insurance organizations, in addition to the main options aiming to improve the present situation with further reliance on the capabilities of the insurance sector in the context of a strong public-private-partnership scheme, were extensively covered in the most recent round of continued consultation with the “Autorité de Contrôle Prudentiel et de Résolution (ACPR)”.
The Insurance Control Commission has published its quarterly reports on the insurance market for the first and second quarter of 2018. The reports include a number of dashboards extracted from the analysis of the quarterly regulatory forms filed by the insurance companies.
Modern insurance regulations are only valuable when implemented, says HE Pierre Gramegna the Minister of Finance of Luxembourg during the recent IAIS annual meeting. HE addressed the challenges that can face the regulators in their endeavors, and emphasized the growing importance of sound governance, transparent prudential reporting, and market conduct; such considerations are relevant for all financial services institutions in an increasingly complex risk environment.
As part of its longstanding cooperation with international reinsurance firms on strategic and technical topics, the Insurance Control Commission received a delegation from SCOR who was visiting the insurance markets in Lebanon and the region.