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Market Attractiveness and Future Prospects of the Sudanese Takaful Insurance Industry

  • June 2015
  • -
  • Timetric
  • -
  • 112 pages

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Synopsis
Timetric’s 'Market Attractiveness and Future Prospects of the Sudanese Takaful Insurance Industry' report provides detailed analysis of the trends in the Sudanese takaful insurance industry. It uses key performance Indicators such as gross written premium, direct written premium, earned premium, claims, incurred loss, loss ratio, combined ratio, commissions and expenses, and assets during the review period (2009–2013) and forecast period (2013–2018).

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages.

Summary
Timetric’s 'Market Attractiveness and Future Prospects of the Sudanese Takaful Insurance Industry' report provides in-depth industry analysis, information and insights into the takaful insurance industry in Sudan, including:

- The Sudanese takaful insurance industry’s growth prospects by insurance segment and category

- The current trends in the Sudanese takaful insurance industry

Scope
This report provides a comprehensive analysis of the takaful insurance industry in Sudan:

- It provides historical values for the Sudanese takaful insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

- It offers a detailed analysis of the key segments and categories in the Sudanese takaful insurance industry, along with forecasts until 2018.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, and total assets.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Sudanese takaful insurance industry and each segment within it.

- Understand the demand-side dynamics, key trends and growth opportunities in the Sudanese takaful insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

Key Highlights
- The Sudanese takaful industry’s gross written premium increased at a review-period (2009–2013) compound annual growth rate (CAGR) of 23.4%

- Non-life insurance is the largest segment in the overall takaful insurance industry in terms of gross written premium, accounting for 58% of the industry’s total share in 2013.

- According to the Sudanese Insurance Supervisory Authority, there are four life insurers and seven non-life insurers which offer takaful products in Sudan.

- The minimum capital requirement for insurers in Sudan is SDG6.0 million (US$1.0 million), which must be met by all insurers in accordance with Sharia standards.

- To make the industry more lucrative, the Sudanese government plans to replace the Sudanese Insurance Law 2001 by the end of 2015 with a more comprehensive new law.

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