The contribution of insurance sector in Sudan economy (2007- 2019 ad)‎

الملخص EN

his study aims at investigating the contribution of insurance sector in Sudan economy during the period 2007- 2019.

The study problem focuses on role of insurance sector as facilitator for all other sectors, so should achieve a reasonable enhance to support the economic development.

The study tries to explore the contribution of insurance sector by calculating some indicators.

The significance of study is to assure the relative enhancing that happened in insurance sector during the study period.

The objective of this study explores the contribution of insurance sector in Sudanese economy by using the scientific method.

The study sets hypothesis which relative enhance in some of insurance market indicators that refer to increase contribution of insurance sector in economy.

The methodology of study is a simplified qualitative method that is some insurance sector indicators.

The study reached to main finding that there is relative enhance in contribution of insurance market in Sudan economy.

In addition, to that very important findings are: the penetration rates achieved relative progress especially during the period 2017- 2019, insurance density ratio accomplished continuous increasing that refers to increase an insurance consumption per capita, the average of commitment rate was 81.9%, the average of net underwriting proximately was two that means the net premiums equivalent to two times of net claims, and the average of retention rate was 61.6%.

The main recommendations of study are; the government ought to constitute regulations component of the capital insurance companies increasing in order to improve financial state, National Insurance Regulatory Authority should makes effective efforts to rise the community’s awareness toward importance of insurance through all possible means, the Insurance Sharia Board ought to issue enforcing disciplines the insurance companies to pay compensation, and the insurance companies should make organizing efforts to encourage the underwriting.