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BMI View: The short-term outlook for the insurance market in Libya remains negative. The ongoing civil
conflict in the country has decimated the economy and there are few growth indicators for the life and nonlife
sectors, with premiums in both expected to contract (in US dollar terms) in 2016 and 2017. Regulatory
and economic risks are high and Libya is unlikely to attract any significant investor interest until the
operating environment has stabilised.
Key Updates And Forecasts
? The security environment in Libya remains highly uncertain. Despite recent progress towards conflict
resolution, Libya's political and security climate will remain volatile through 2016, as rival militias
compete for control over the country's vast resource wealth. This will continue to deter investors in a
range of sectors, including the beleaguered insurance sector.
? Some growth will be seen in the life sector over the course of the forecast period when measured in local
currency terms, though premiums will remain minimal. Premiums will also grow in the non-life sector,
though currency movements mean both life and non-life premiums will contract over the near-term in US