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Lebanese insurers at risk due to political, economic uncertainties


U.S.-based ratings agency A.M. Best Co. Inc. said that rising political and economic uncertainties in Lebanon are creating risks for local insurers, Middle East Insurance Review reported. Ben Diaz-Clegg, a financial analyst at A.M. Best, said, "Given the worsening liquidity situation, insurers are taking steps to bolster their own U.S. dollar reserves, trying to maximize cash inflows in the currency whilst minimizing outflows."

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