The Lebanese Credit Insurer

What The Lebanese Credit Insurer does

The Lebanese Credit Insurer (LCI) is a Lebanon-domiciled trade credit insurance company founded in 2001 as the first independent specialized trade credit insurer in the country and the broader MENA region. It underwrites policies that protect businesses against buyer non-payment, sells credit information reports on a transactional and subscription basis, recovers defaulted receivables, and provides advisory services to insurance companies and corporate clients. The company serves two primary customer segments — SMEs (via its simplified TAJER product) and larger corporates — alongside a third B2B segment of insurance company partners that distribute LCI's products under technical and reinsurance arrangements.

LCI's operations are supported by a proprietary technology stack: TCIS (Trade Credit Insurance Solution), an end-to-end policy lifecycle platform built on Microsoft Dynamics CRM and licensed to partners; EYERIS, a customer-facing online portal for credit limits, claims, and policy tracking; and the Trade Inform database, which actively monitors over 16,000 companies across MENA, Africa, and the Balkans for payment behavior and creditworthiness. The Trade Collect debt collection service operates in 20+ African markets with structured recovery, legal escalation, and repayment plan workflows.

The business model combines underwriting premiums (recurring revenue), per-inquiry and subscription credit information fees, transactional debt collection fees, advisory/consulting fees, and IT platform licensing royalties. Go-to-market is a hybrid of direct enterprise field sales (Business Development team in Beirut), channel partners (regional insurers such as ASKIA in 7 African countries and Triglav in Serbia), and association-led community engagement (Berne Union, Prague Club chairmanship, Aman Union, IFG). LCI is privately held and was originally established as a joint venture involving Atradius Participations Holding B.V., regional insurance companies, and private holding companies.

Name

The Lebanese Credit Insurer

Legal name

The Lebanese Credit Insurer s.a.l.

Website

https://lci.com.lb

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

The Lebanese Credit Insurer (LCI), founded in 2001 and headquartered in Beirut, is the first independent specialized trade credit insurer in Lebanon and the MENA region, offering credit insurance, credit information, debt collection, and advisory services to SMEs, corporates, and insurance company partners across MENA, Africa, and the Balkans.

Ownership category

akta.pro rank

Product category

Trade Credit Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Insurance Agents, Brokers & Service (6411), Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro industry

PRIMARYFSAEADAL

Trade Credit Insurance Brokerage

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

SECONDARYFSAEADAJ

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

SECONDARYFSAEADAB

Commercial Lines Insurance Brokerage

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

Keywords

• Trade credit insurance
• Credit management solutions
• Debt collection services
• Credit information reports
• Receivables protection

Headquarters

HQ city

Beirut

HQ country

Lebanon

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Trade Credit Insurance Premiums: LCI generates primary revenue from underwriting trade credit insurance policies, charging premiums to protect companies' trade receivables against buyer default. Policies are offered to both SMEs (through simplified products like TAJER) and larger corporates.
2. Credit Information Reports: LCI sells credit information and risk management reports (Basic and Detailed) to companies seeking background checks and credit assessments on buyers. Reports are sold on a per-inquiry or subscription basis.
3. Debt Collection Services: LCI Services provides debt collection services including recovery management, legal actions, and repayment plan facilitation, charging fees for successful recovery of outstanding receivables.
4. Trade Credit Advisory & Consulting: Outsourced services including risk management, credit risk assessment, claims management, reinsurance management, business model review, new product development, and training are provided to insurance companies and corporate clients.
5. IT Solutions Licensing: LCI offers its proprietary TCIS (Trade Credit Insurance Solution) platform to partners on a licensed basis. For example, LCI helped Triglav set up a Microsoft Dynamics CRM system dedicated to managing credit insurance policies.

Go-to-market motion4 records

Distribution channels4 records

Marketing channels6 records

Core offering

LCI underwrites trade credit insurance policies that protect businesses against buyer non-payment on trade receivables, offered through two core products — Trade Protect for corporates and TAJER for SMEs. The company complements its insurance policies with credit information reports, debt collection services across 20+ African markets, advisory/consulting for setting up credit insurance activities, and licenses its proprietary TCIS IT platform to insurance partners.

Product overview

LCI offers a comprehensive trade credit insurance product portfolio centered around Trade Protect and Tajer insurance products, supplemented by a suite of services including Trade Inform (credit information and KYC), Trade Collect (debt collection), and Trade Advise (advisory and consultancy). The company also provides proprietary IT solutions including TCIS (Trade Credit Insurance Solution) for internal policy management and EYERIS as a customer online portal. LCI operates across the Middle East, Africa, and the Balkans regions.

Differentiator

Problem solved

Functional benefit

Products and services

• Trade Protect Trade credit insurance product for corporate clients that protects trade receivables against buyer default and provides insights and information for making informed decisions when working with buyers. Designed to extend credit limits, allow sales without Letters of Credit and Bank Guarantees, extend payment terms, and turn trade receivables into quality bank collateral.
• TAJER Simplified trade credit insurance policy designed for Small and Medium-sized Enterprises (SMEs) in the Middle East that supports business growth and ensures payment for goods and services supplied, enabling SMEs to extend credit limits and reconcile between sales and risk functions.
• Trade Inform Credit information and risk management service providing extensive background information on buyers through data on thousands of companies. Includes International Credit Information Reports (Basic and Detailed) and KYC services, drawing on a proprietary database actively monitored for payment behaviors, financial standing, and creditworthiness.
• Trade Collect Debt management and collection services for recovering bad debt and settling pending payments. Services include recovery management, verbal negotiations, repayment plans, final demands, dunning letters, solicitor letters, and legal actions across local and international markets.
• Trade Advise Outsourced services and consultancy for trade credit risk identification, mitigation, and management. Includes risk management, credit risk assessment, claims management, reinsurance management, business model review, establishment of credit insurance activities, new product development, and training.
• TCIS (Trade Credit Insurance Solution) Proprietary IT solution developed by LCI Services for trade credit insurance management, supporting the credit insurance cycle from client application through risk assessment, policy management, and debt collection. Licensed to insurance company partners to enable them to manage the full credit insurance lifecycle.

Quantifiable outcome

• 201% growth rate between 2008 and 2010, ranking 2nd fastest growing company in Lebanon and 31st in the Arab World (Arabia500)
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• ASKIA AssurancescoreStrategic or Co-development Partner · 7 November 2018LCI Services, the servicing arm of LCI, completed the implementation of tailored trade credit insurance products and services for companies in Africa together with ASKIA Assurances in Senegal. The official launch took place in Dakar, Senegal with over 200 attendees. The agreement establishes credit insurance operations in 7 African countries: Senegal, Ivory Coast, Niger, Burkina Faso, Guinea Bissau, Togo, and Benin. LCI provides reinsurance, underwriting, debt collection, credit information, business development, and IT support.
• SACEcoreStrategic or Co-development Partner · 12 June 2018LCI and SACE (Italy's export credit agency) signed a cooperation agreement to enhance trade opportunities between Lebanon and Italy by supporting SMEs. The agreement entails extending the expertise and know-how of both entities to SMEs, along with training programs and technical assistance offered to financial institutions and commercial banks.
• ACAL (Association des Compagnies d'Assurances au Liban)coreStrategic or Co-development Partner · 1 May 2017LCI, represented by its General Manager Karim Nasrallah, was elected to the Board of Directors of ACAL at its annual meeting in April 2017. LCI is the only specialized credit insurance company in Lebanon. ACAL represents Lebanese insurance companies and works to build the profession technically, develop regulations, and safeguard public interest.
• ICIEC (Islamic Corporation for the Insurance of Investment and Export Credit)coreStrategic or Co-development Partner · 14 January 2016Mr. Oussama A. Kaissi, CEO of ICIEC (a member of the Islamic Development Bank Group), visited LCI offices in January 2016. Discussions were held regarding further development and cooperation between ICIEC and LCI strategically and technically in the region, as well as planning for the upcoming Aman Union Annual Meeting in Beirut.
• Triglav Osiguranje A.D.O.coreStrategic or Co-development Partner · 1 December 2015LCI Services and Triglav Osiguranje A.D.O. (Serbia) finalized a cooperation agreement in December 2015 to jointly develop credit insurance activities within Serbia. LCI provides technical know-how, underwriting expertise, and reinsurance support; Triglav issues credit insurance policies within Serbia. LCI also helped set up a Microsoft Dynamics CRM system for Triglav to manage policies.
• Bulgarian Export Insurance Agency (BAEZ)minorStrategic or Co-development Partner · 19 March 2015LCI signed an MOU with the Bulgarian Export Insurance Agency (BAEZ) at its 5th Annual Partners' & Reinsurers' Meeting in Beirut in March 2015, as part of its commitment to expand strategic partnerships and reach internationally.
• International Factors Group (IFG)coreGTM or Marketing Partner · 1 December 2014LCI joined the International Factors Group (IFG) as an Associate Partner in December 2014, becoming the first Trade Credit Insurer to join IFG. This membership allows LCI to expand into the factoring world, benefit from networking opportunities, and bring regional market insight to IFG members globally. Through the merger of IFG and FCI in January 2016, LCI became associated with the combined organization spanning 90+ countries and 400+ members.
• Export Guarantee Fund of Iran (EGFI)minorStrategic or Co-development Partner · 1 November 2014LCI and EGFI announced and signed a Memorandum of Understanding at the 5th Annual Aman Union Meeting in Tehran, Iran in November 2014. The MoU established a framework for cooperation in Marketing, Sales, and Short Term Export Credit Insurance to support trade between Iran and Lebanon.
• Prague Club (Berne Union Affiliate)coreStrategic or Co-development Partner · 1 March 2014LCI's General Manager Karim Nasrallah was elected Chairman of the Prague Club (Berne Union Affiliate) in December 2013, serving a two-year term. The Prague Club is an information exchange network for new and maturing export credit insurers. LCI is the only private member of the group, which includes 36+ member organizations.
• Recovery Advisers B.V.minorImplementation/ SI/ Consulting Partner · 1 January 2011LCI has worked closely with Recovery Advisers B.V. since 2011. Recovery Advisers provides annual training programs on Claims and Recoveries to LCI's debt collection team. LCI attended Claims & Recoveries training in Dubai in April 2015, covering credit insurance, short-term export transactions, legal aspects of claims recovery.
• Berne UnioncoreStrategic or Co-development PartnerLCI is an active member of the Berne Union (International Union of Credit & Investment Insurers), the leading international association for export credit and investment insurance founded in 1934. LCI participates in annual AGMs, spring meetings, and industry workshops.
• Aman UnioncoreStrategic or Co-development PartnerLCI is an active member of the Aman Union, a professional forum for commercial and non-commercial risk insurers and reinsurers in OIC member countries. LCI participates in annual meetings, technical training sessions (including hosting the 3rd technical training in Beirut in April-May 2013), and cooperates with other members on regional market development.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Coface: One of the world's largest trade credit insurers, underwriting receivables and providing credit information globally. Directly comparable to LCI in core product (trade credit insurance) and customer segments (SMEs and corporates trading cross-border), though at vastly greater scale.
• Credendo: European-headquartered trade credit insurer with growing presence in emerging and frontier markets. Closely comparable to LCI in product mix (credit insurance + credit information) and customer profile, and a relevant competitor for cross-border emerging-market mandates.
• Allianz Trade (formerly Euler Hermes): Global leader in trade credit insurance and B2B credit intelligence under the Allianz group. Directly comparable to LCI on product, customer base, and business model, with overlapping geographic ambitions in emerging markets.

Regional players

• CESCE: Spanish export credit insurer with growing footprint in Latin America and other emerging regions. Comparable to LCI as a regionally anchored trade credit insurer expanding via partnerships, but operating primarily in different geographies (Ibero-America vs. MENA/Africa/Balkans).

Broad incumbents

• SINOSURE (China Export & Credit Insurance Corporation): State-owned Chinese export credit agency underwriting short-term and medium/long-term trade credit insurance globally. Comparable to LCI in product category and emerging-market focus, though with a very different ownership/governance model and balance-sheet scale.
• Atradius: Global trade credit insurer and founding JV partner of LCI. Overlapping capabilities (underwriting, credit information, debt collection) at materially larger scale; classified as a broad incumbent because it competes with LCI while also supporting it through reinsurance and shared DNA.
• AIG Trade Credit: Trade credit insurance line within AIG's broader specialty insurance portfolio. Comparable to LCI on the core product (trade credit insurance) and large-corporate customer segments, but operating as part of a much larger, diversified global insurer.

Others

• UK Export Finance (UKEF): UK's export credit agency providing credit insurance and guarantees to support exporters. Comparable to LCI on the trade credit insurance product category and emerging-market underwriting, though operating as a government-backed ECA rather than a commercial specialty insurer.
• ICIEC (Islamic Corporation for the Insurance of Investment and Export Credit): Multilateral export credit insurer within the Islamic Development Bank Group, active across OIC member states including MENA. Comparable to LCI on product (trade credit insurance) and geography (MENA), and an actual counterparty/partner in LCI's network rather than a direct competitor.
• SACE (now SACE BT, part of Gruppo CDP): Italian export credit agency and active LCI partner since 2018 (joint SME trade facilitation program). Comparable as a trade credit insurance / ECA peer with adjacent capabilities; categorized as 'others' because the partnership positioning is closer to an enabling relationship than direct head-to-head competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-lebanese-credit-insurer-s-a-l-

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Lebanese Credit Insurer