Mergers will enable insurance companies to increase their capital, Khoury said.(The Daily Star/HO)
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Farid Chedid, the chairman of Chedid Capital Holding, said that the insurance sector proved to be resilient against the various challenges that have faced the country in the past years.Chedid noted that the average growth of the sector between the years 2010 and 2014 reached 5 percent compared to GDP growth and an inflation rate of 2 percent.Chedid expressed his optimism about the new initiatives proposed by Khoury to improve performance in the sector.He emphasized the importance of the sector, saying that it provides job opportunities for around 12,000 people.
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