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Lebanon number one for Mena insurance penetration

Lebanon has been ranked by global reinsurer Swiss Re the first in the Mena region and 46th out of 147 countries globally in terms of total insurance premiums to gross domestic product in 2011, The Daily Star has reported. The country maintained the lead in the region for the seventh year in a row and its global rankings improved by six notches from 2010. Lebanon's insurance penetration (insurance premiums to GDP) was at 2.9% in 2011, compared to 2.8% in 2010. The share was equal to that of Morocco and higher than those of Bahrain and Jordan. Lebanon's insurance premiums accounted for 5.3% of total premiums in the Mena region in 2011, taking up the fifth highest share in the market after the UAE, Saudi Arabia, Morocco and Egypt.