Bankers Assurance Sal

Bankers Assurance Sal, a for-profit insurance organization based in Beirut, Lebanon, provides life insurance policy issuance and claims administration services to the U.S. Department of State's Bureau of Near Eastern Affairs as a sole prime contractor under full-and-open competition with no set-aside designations. The vendor holds a single-award Indefinite Delivery Contract (IDC 19LE2024D0002) valued at $1,485,014.50 running through February 12, 2029, and operates exclusively within the federal government's life insurance program space.

Bankers Assurance Sal's entire federal footprint—all 32 awards spanning the past two and a half years—consists of task orders issued by the Department of State's Bureau of Near Eastern Affairs for life insurance coverage of locally employed staff at the U.S. Embassy in Beirut, Lebanon. The parent IDC was awarded on February 13, 2024, on a lowest-priced technically acceptable basis with a base year plus four optional one-year extensions. Individual task orders range from approximately $20,000 to $45,000, with the vast majority clustering between $22,000 and $24,000, reflecting the predictable and recurring nature of embassy personnel benefit administration. Through July 9, 2026, Bankers Assurance Sal has received 31 task orders under this vehicle, with combined potential value of $730,000 (approximately 33% of the IDC's $2.2 million total potential value obligated across all awards). The vendor is registered in the System for Award Management as of January 2019 and competes in open federal marketplace against other qualified insurers, holding no minority, HUBZone, SDVOSB, WOSB, or other SBA set-aside designations.

Activity has remained steady: thirteen awards in 2024, thirteen in 2025, and six through mid-2026, indicating consistent quarterly ordering cycles supporting continuous embassy operations. All work is performed in Lebanon, with administrative oversight and policy administration handled by the Beirut-based vendor. The contract structure provides the Department of State with a dedicated single provider for this critical employee benefit, eliminating procurement friction for recurring insurance administration while maintaining lowest-price technical acceptability as the award criterion. Bankers Assurance Sal has no federal subcontract footprint and does not sit on government-wide acquisition contracts or multi-agency vehicles beyond its single-award IDC with the Bureau of Near Eastern Affairs.