BEIRUT: Insurance premiums increased by 17 percent in the first six months of 2011 compared to the same period in 2010, according to a report issued by the Association of Insurance Companies.

The report said that the amount of premiums in the first and second quarters of 2011 reached $3.623 billion.

The increase in premiums was mainly witnessed in the departments of life insurance and medical insurance which rose 24 percent and 29 percent this year respectively.

The non-life insurance contributed to 5.33 percent of the total premiums with raises of 7.25 percent and 23.1 percent for car and life premiums respectively.

It also added that the total volume of money paid on accidents until June 30, 2011, increased by 10 percent compared to the first six months of 2010.