Nadine El Habbal

Mrs. El Habbal is currently the Acting Head of the Insurance Control Commission (ICC). She started her career in the advisory services for insurance and banks with PwC, before integrating the regulatory work in 2003.

Her regulatory undertakings included pioneering work on the prudential reporting to enhance the solvency regime in Lebanon. She implemented a risk-based supervision (RBS) approach using a scoring of insurance companies along a bi-dimensional matrix involving advanced financial condition and market conduct indicators. She played an instrumental role in positioning the insurance sector as part of the FSAP, and contributed to the removal of Lebanon from the GAFI grey list.

In the recent period, Mrs. El Habbal engineered a number of reforms and regulations to strengthen the valuation and reporting of insurance liabilities and enhance market conduct practices. She particularly enforced the guaranteed renewability on health insurance, and tightened the controls on the motor compulsory line. In parallel, she embarked on a thorough program to foster solvency and governance requirements in line with international best practices, and to reform the motor third party liability framework with a focus on increasing benefits to victims of road accidents and improving the efficiency of the claims’ settlement framework.

Mrs. El Habbal is active within the International Association of Insurance Supervisors, and sits on a number of group-wide regulatory panels. She initiated and implemented effective cooperation with insurance supervisors in other jurisdictions, as well as supervisors of other financial services in Lebanon.