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Merger of LIA Insurance s.a.l and Assurex Insurance and Reinsurance s.a.l

08/Sep/2021

We are pleased to announce that LIA Insurance s.a.l and Assurex s.a.l have merged and united as one organization under the trade name of LIA Assurex s.a.l. The merger was approved by the Insurance Control Commission (ICC), within the Ministry of Economy and Trade on July 27, 2021.

The coming together of two reputable insurance companies, with solid financial grounds, professionalism and expertise, combined with the know-how and presence of Sanlam Group, Saradar Group and Fattal Group, is poised to assemble the building blocks of a successful integrated insurance platform.

Sanlam, one of the 50 largest active insurance groups in the world owns 70% of the shares, while Saradar Insurance Holding, formed by Fattal Group and Saradar Group owns 30% of the shares.

The complementarity of the two companies, both in life and non-life services, will provide opportunities to spearhead the expansion of LIA Assurex in the insurance sector. The new merged entity will be managed through an effective and transparent governance system. LIA Assurex is set to be a dynamic and professional institution, with a leadership role in the Lebanese insurance market. This merger makes even more sense with the emerging challenges that the country and the industry are facing today.

We aim to continue to be a constant, supportive, and dependable partner to all our stakeholders. We are strongly committed to providing an excellent service to our clients, with an enhanced user experience.

Our ambition is to implement a progressive approach to digital transformation, in order to develop innovative product and service offerings. We are strategically positioned for future growth and will have a great opportunity to further strengthen and expand our presence in the insurance sector, locally and regionally.

About LIA Insurance:

With a history dating back to 1975, LIA insurance s.a.l is one of Lebanon’s leading insurance companies, offering a wide range of diversified Life and Non-Life insurance products and a comprehensive portfolio of services to individuals and businesses.

LIA has 7 branches across Lebanon.

About Assurex:

Established in 1978, Assurex is a top tier Lebanese insurance and reinsurance company. It offers its clients a comprehensive range of insurance products, covering all lines of business, including medical, motor, fire, marine, general accidents, property and life, with tailor-made solutions for corporate clients. Assurex has 5 operating branches across Lebanon.