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Synopsis
The report provides in-depth industry analysis, information and insights into the insurance industry in Libya, including:
- The Libyan insurance industry’s growth prospects by insurance segment and category
- The competitive landscape in the Libyan insurance industry
- The current trends and drivers of the Libyan insurance industry
- Challenges facing the Libyan insurance industry
- Detailed regulatory framework of the Libyan insurance industry

Summary
The Libyan insurance industry is very small when compared to other countries in the Middle East and North Africa (MENA) region. In terms of gross written premium, the Libyan insurance industry decreased at a compound annual growth rate (CAGR) of -9.1%. Political unrest in the country in 2011 caused the industry to decline by 52%. It is expected that the industry will increase at a CAGR of 4.6% over the forecast period (2013'2018).

Scope
This report provides a comprehensive analysis of the insurance industry in Libya:
- It provides historical values for the Libyan insurance industry for the report’s 2009–2013 review period and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key segments and categories in the Libyan insurance industry, along with forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Libya, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Libyan insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Libyan insurance industry.
- Assess the competitive dynamics in the Libyan insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
- Gain insights into key regulations governing the Libyan insurance industry and its impact on companies and the industry's future.

Key Highlights
- The Libyan insurance industry is very small when compared to other countries in the Middle East and North Africa (MENA) region.
- Political unrest in the country in 2011 caused the industry to decline by 52%.
- Libya's insurance penetration stood at 0.47% in 2009, which is lower than other countries in the MENA region.
- The property insurance category constituted 48.4% of the non-life segment’s gross written premium in 2013.
- The Libyan insurance industry is small and concentrated. The top two companies held 70.2% of the total gross written premium.

Table Of Contents

The Insurance Industry in Libya, Key Trends and Opportunities to 2018
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Libyan Insurance Industry Overview
3.1 Libyan Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Industry Segmentation
4.1 Life Insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.4 Reinsurance
5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Liability insurance
5.2.5 Marine, aviation and transit insurance
5.2.6 Personal accident and health insurance
5.3 Compulsory Insurance
5.3.1 Motor third-party liability insurance
5.3.2 Social insurance system
5.4 Supervision and Control
5.4.1 African Insurance Organization
5.4.2 Insurance Department of the General People's Committee for Economy, Trade and Investment
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and penalties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Alternative dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Libya Insurance Company - company overview
6.2.2 United Insurance Company - company overview
6.2.3 African Insurance Company - company overview
6.2.4 Sahara Insurance Company - company overview
7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP at Current Prices (US$)
7.3 GDP per Capita at Current prices (US$)
7.4 Inflation Rate (Percentage)
7.5 Total Life Expectancy (Number of Years)
7.6 Total Labor Force (Million)
7.7 Total Internet Users (Thousand)
7.8 Total Number of Households (Million)
7.9 Urban and Rural Populations
7.1 Total Population (Million)
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Libyan Insurance - Gross Written Premium by Segment (LYD Million), 2009-2013
Table 3: Libyan Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
Table 4: Libyan Insurance - Gross Written Premium by Segment (LYD Million), 2013-2018
Table 5: Libyan Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
Table 6: Libyan Insurance - Segmentation by Gross Written Premium (Percentage Share), 2009-2018
Table 7: Libyan Insurance - Direct Written Premium by Segment (LYD Million), 2009-2013
Table 8: Libyan Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
Table 9: Libyan Insurance - Direct Written Premium by Segment (LYD Million), 2013-2018
Table 10: Libyan Insurance - Direct Written Premium by Segment (US$ Million), 2013-2018
Table 11: Libyan Insurance - Segmentation by Direct Written Premium (Percentage Share), 2009-2018
Table 12: Libyan Life Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 13: Libyan Life Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 14: Libyan Life Insurance - Direct Written Premium (LYD Million), 2009-2013
Table 15: Libyan Life Insurance - Direct Written Premium (LYD Million), 2013-2018
Table 16: Libyan Life Insurance - Paid Claims (LYD Million), 2009-2013
Table 17: Libyan Life Insurance - Paid Claims (LYD Million), 2013-2018
Table 18: Libyan Life Insurance - Incurred Loss (LYD Million), 2009-2013
Table 19: Libyan Life Insurance - Incurred Loss (LYD Million), 2013-2018
Table 20: Libyan Life Insurance - Loss Ratio (%), 2009-2013
Table 21: Libyan Life Insurance - Loss Ratio (%), 2013-2018
Table 22: Libyan Life Insurance - Combined Ratio (%), 2009-2013
Table 23: Libyan Life Insurance - Combined Ratio (%), 2013-2018
Table 24: Libyan Life Insurance - Retentions (LYD Million), 2009-2013
Table 25: Libyan Life Insurance - Retentions (LYD Million), 2013-2018
Table 26: Libyan Non-Life Insurance - Gross Written Premium by Category (LYD Million), 2009-2013
Table 27: Libyan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 28: Libyan Non-Life Insurance - Gross Written Premium by Category (LYD Million), 2013-2018
Table 29: Libyan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 30: Libyan Non-Life Insurance - Direct Written Premium by Category (LYD Million), 2009-2013
Table 31: Libyan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
Table 32: Libyan Non-Life Insurance - Direct Written Premium by Category (LYD Million), 2013-2018
Table 33: Libyan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
Table 34: Libyan Non-Life Insurance - Paid Claims (LYD Billion), 2009-2013
Table 35: Libyan Non-Life Insurance - Paid Claims (LYD Billion), 2013-2018
Table 36: Libyan Non-Life Insurance - Incurred Loss (LYD Billion), 2009-2013
Table 37: Libyan Non-Life Insurance - Incurred Loss (LYD Billion), 2013-2018
Table 38: Libyan Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 39: Libyan Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 40: Libyan Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 41: Libyan Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 42: Libyan Non-Life Insurance - Retentions (LYD Billion), 2009-2013
Table 43: Libyan Non-Life Insurance - Retentions (LYD Billion), 2013-2018
Table 44: Libyan Property Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 45: Libyan Property Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 46: Libyan Motor Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 47: Libyan Motor Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 48: Libyan Liability Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 49: Libyan Liability Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 50: Libyan Marine, Aviation and Transit Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 51: Libyan Marine, Aviation and Transit Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 52: Libyan Personal Accident and Health Insurance - Gross Written Premium (LYD Million), 2009-2013
Table 53: Libyan Personal Accident and Health Insurance - Gross Written Premium (LYD Million), 2013-2018
Table 54: Libyan Personal Accident and Health Insurance - Paid Claims (LYD Million), 2009-2013
Table 55: Libyan Personal Accident and Health Insurance - Paid Claims (LYD Million), 2013-2018
Table 56: Libyan Personal Accident and Health Insurance - Incurred Loss (LYD Million), 2009-2013
Table 57: Libyan Personal Accident and Health Insurance - Incurred Loss (LYD Million), 2013-2018
Table 58: Libyan Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 59: Libyan Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 60: Libyan Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 61: Libyan Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 62: Libyan Personal Accident and Health Insurance - Retentions (LYD Million), 2009-2013
Table 63: Libyan Personal Accident and Health Insurance - Retentions (LYD Million), 2013-2018
Table 64: Libyan Reinsurance - Ceded by Insurance Segment (LYD Million), 2009-2013
Table 65: Libyan Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
Table 66: Libyan Reinsurance - Ceded by Insurance Segment (LYD Million), 2013-2018
Table 67: Libyan Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
Table 68: Libyan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 69: Libyan Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
Table 70: Libyan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 71: Libyan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 72: Libyan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 73: Libyan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 74: Libya - Life Insurance Regulatory Framework
Table 75: Libya - Property Insurance Regulatory Framework
Table 76: Libya - Motor Insurance Regulatory Framework
Table 77: Libya - Liability Insurance Regulatory Framework
Table 78: Libya - Corporate Tax Rates for the Financial Year 2014
Table 79: Libyan Insurance Market Share, 2011
Table 80: Libya Insurance Company ? Main Products
Table 81: Libya Insurance Company ? Key Employees
Table 82: United Insurance Company ? Main Products
Table 83: United Insurance Company ? Key Employees
Table 84: African Insurance Company ? Main Products
Table 85: African Insurance Company ? Key Employees
Table 86: Sahara Insurance Company ? Main Products
Table 87: Sahara Insurance Company ? Key Employees

List of Figures
Figure 1: Libyan Insurance - Gross Written Premium by Segment (LYD Million), 2009-2018
Figure 2: Libyan Insurance - Gross Written Premium Market Dynamics by Segment, 2009-2018
Figure 3: Libyan Insurance - Direct Written Premium by Segment (LYD Million), 2009-2018
Figure 4: Libyan Insurance - Direct Written Premium Dynamics by Segment, 2009-2018
Figure 5: Libyan Life Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 6: Libyan Life Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 7: Libyan Life Insurance - Direct Written Premium (LYD Million), 2009-2013
Figure 8: Libyan Life Insurance - Direct Written Premium (LYD Million), 2013-2018
Figure 9: Libyan Life Insurance - Paid Claims (LYD Million), 2009-2013
Figure 10: Libyan Life Insurance - Paid Claims (LYD Million), 2013-2018
Figure 11: Libyan Life Insurance - Incurred Loss (LYD Million), 2009-2013
Figure 12: Libyan Life Insurance - Incurred Loss (LYD Million), 2013-2018
Figure 13: Libyan Life Insurance - Loss Ratio (%), 2009-2013
Figure 14: Libyan Life Insurance - Loss Ratio (%), 2013-2018
Figure 15: Libyan Life Insurance - Combined Ratio (%), 2009-2013
Figure 16: Libyan Life Insurance - Combined Ratio (%), 2013-2018
Figure 17: Libyan Life Insurance - Retentions (LYD Million), 2009-2013
Figure 18: Libyan Life Insurance - Retentions (LYD Million), 2013-2018
Figure 19: Libyan Life Insurance - Penetration (%), 2009-2013
Figure 20: Libyan Life Insurance - Premium per Capita (LYD), 2009-2013
Figure 21: Libyan Non-Life Insurance - Gross Written Premium by Category (LYD Million), 2009-2018
Figure 22: Libyan Non-Life Insurance - Gross Written Premium by Category (%), 2013 and 2018
Figure 23: Libyan Non-Life Insurance - Gross Written Premium Dynamics by Category, 2009-2018
Figure 24: Libyan Non-Life Insurance - Direct Written Premium by Category (LYD Million), 2009-2018
Figure 25: Libyan Non-Life Insurance - Direct Written Premium by Category (%), 2013 and 2018
Figure 26: Libyan Non-Life Insurance - Direct Written Premium Dynamics by Category, 2009-2018
Figure 27: Libyan Non-Life Insurance - Paid Claims (LYD Billion), 2009-2013
Figure 28: Libyan Non-Life Insurance - Paid Claims (LYD Billion), 2013-2018
Figure 29: Libyan Non-Life Insurance - Incurred Loss (LYD Billion), 2009-2013
Figure 30: Libyan Non-Life Insurance - Incurred Loss (LYD Billion), 2013-2018
Figure 31: Libyan Non-Life Insurance - Loss Ratio (%), 2009-2013
Figure 32: Libyan Non-Life Insurance - Loss Ratio (%), 2013-2018
Figure 33: Libyan Non-Life Insurance - Combined Ratio (%), 2009-2013
Figure 34: Libyan Non-Life Insurance - Combined Ratio (%), 2013-2018
Figure 35: Libyan Non-Life Insurance - Retentions (LYD Billion), 2009-2013
Figure 36: Libyan Non-Life Insurance - Retentions (US$ Billion), 2013-2018
Figure 37: Libyan Non-Life Insurance - Penetration (%), 2009-2013
Figure 38: Libyan Non-Life Insurance - Premium per Capita (LYD), 2009-2013
Figure 39: Libyan Property Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 40: Libyan Property Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 41: Libyan Motor Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 42: Libyan Motor Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 43: Libyan Liability Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 44: Libyan Liability Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 45: Libyan Marine, Aviation and Transit Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 46: Libyan Marine, Aviation and Transit Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 47: Libyan Personal Accident and Health Insurance - Gross Written Premium (LYD Million), 2009-2013
Figure 48: Libyan Personal Accident and Health Insurance - Gross Written Premium (LYD Million), 2013-2018
Figure 49: Libyan Personal Accident and Health Insurance - Paid Claims (LYD Million), 2009-2013
Figure 50: Libyan Personal Accident and Health Insurance - Paid Claims (LYD Million), 2013-2018
Figure 51: Libyan Personal Accident and Health Insurance - Incurred Loss (LYD Million), 2009-2013
Figure 52: Libyan Personal Accident and Health Insurance - Incurred Loss (LYD Million), 2013-2018
Figure 53: Libyan Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Figure 54: Libyan Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Figure 55: Libyan Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Figure 56: Libyan Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Figure 57: Libyan Personal Accident and Health Insurance - Retentions (LYD Million), 2009-2013
Figure 58: Libyan Personal Accident and Health Insurance - Retentions (LYD Million), 2013-2018
Figure 59: Libyan Personal Accident and Health Insurance - Penetration (%), 2009-2013
Figure 60: Libyan Personal Accident and Health Insurance - Premium per Capita (LYD), 2009-2013
Figure 61: Libyan Reinsurance - Ceded by Insurance Segment (LYD Million), 2009-2018
Figure 62: Libyan Reinsurance - Dynamics by Insurance Segment, 2009-2018
Figure 63: Libyan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 64: Libyan Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 65: Libyan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 66: Libyan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 67: Libyan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 68: Libyan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 69: Libya - Insurance Regulatory Framework
Figure 70: Libya - Insurance Supervision and Control at Various Levels
Figure 71: Libya - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 72: Libyan Insurance Market - Market Share 2011
Figure 73: Libyan GDP at Constant Prices (US$ Billion), 2009-2013
Figure 74: Libyan GDP at Current Prices (US$ Billion), 2009-2013
Figure 75: Libyan GDP Per Capita at Current Prices (US$), 2009-2013
Figure 76: Libyan Inflation Rate (%), 2009-2013
Figure 77: Libyan Overall Life Expectancy (Number of Years), 2009-2013
Figure 78: Libyan Total Labor Force (Million), 2008-2012
Figure 79: Libyan Total Internet Users (Thousand), 2008-2012
Figure 80: Total Number of Households (Million), 2009-2013
Figure 81: Libyan Urban and Rural Populations (%), 2009-2013
Figure 82: Libyan Total Population (Million), 2009-2013

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