Lia Insurance

Chairman's Message - 2017

At LIA Insurance, we maintained a leading role in the insurance market by pursuing our leadership vision of longterm strength and sustainability.

Throughout a period of profound political and economic change and turbulence in our regional surroundings, 2017
was another breakthrough year for LIA Insurance! We delivered on our commitments and achieved substantial growth in most of our line of businesses; we remained steadfast in our dedication to our clients, partners and employees and we provided consequential return for our shareholders.

As you will read further on in this report, we continued to make progress towards our key goals which reflected
underlying performance crosswise our businesses:
 
• We increased our sales business volumes by 10.5% and reached the sill of US$115.85 million, with 9.1% return
on written premiums ratio.
• Our Life business went up by 15.2% with a total volume of US$ 50.8 million.
• While our Non-Life business generated a volume of US$ 65 million with an increase of 7.1% compared to last year’s.
• We earned a net income of US$10.54 million.
• And our solvency ratio read 78.1%, whereas the minimum required is 10%.

I invite you to read more about our achievements in the following pages of this report, which also includes our independent Auditors’ reviews.

Once again, we owe credit to our business providers and to our employees who helped us achieve the progress we’ve made over the years. This progress is function of their loyal and rewarding commitment.

To conclude, at LIA Insurance we will continue to strive towards our vision of industry leadership and sustainability goals in the years ahead, and we will endeavor to safeguard our clients’ rights to adequate protection, to secure profitable returns to our shareholders and a reliable business environment to our employees.

Finally, I would like to thank each and every person who contributed to our success, for your ongoing interest in LIA Insurance and for your continued support.

Raymond Farhat
Chairman - General Manager