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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Sudanese non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Sudan's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Sudan non-life (P&C) market as well as trends by line of business. Axco analysts also report on Sudan's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Sudan's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Sudan, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Sudan, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Sudan with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The insurance market in Sudan is set for growth following the lifting of restrictions and signs towards political stability.
The level of premium growth in the country witnessed in recent years appears high (64.01% in 2017 and 60.89% in 2018), however, this should be considered against the fact that inflation continues to be an issue in the market. In November 2020, for example, a record rate of inflation of 255% year-on-year was said to have been reached as food and rent prices soared whilst the local currency continued ....
This is a brief extract of information; more updated information may be available in the latest published report.