Sudan economy was first exposed to Insurance industry in the early Twentieth century during the Condominium Colonization. This was limited to agricultural schemes i.e. Gezira Scheme and Foreign Trade.
After Independence, the major players of this industry were branches of foreign companies, agencies and brokers. In 1971, this industry was completely Sudanized. In general, Insurance concept was well deep rooted in the Sudanese culture by native co-operative groupings whether in field of agriculture, fishery and cattle raising, throughout Sudan vast geographical area under the slogan of “One for All and All for One”. Below some of the Sudanese companies working in this field.
Sudanese Insurance & Reinsurance Company Ltd. (SUDINRECO):
The Sudanese Insurance and Reinsurance Company Ltd (SUDINRECO) is registered under the Sudanese Companies Act, it was established by a group of Sudanese businessmen in 1967, beside the direct insurance, it writes reinsurance business from the international markets.
Services:
Moreover, the company has established a reputation for high professional competence in the various insurances, which covers the following:
• Commercial
• Industrial
• Engineering
• Agricultural
• Live Stock
• Aviation fields
With such wide range of activities, SUDINRECO is considered as the pioneering multi-disciplinary Insurance firm in Sudan.
The United Insurance Company (Sudan) Ltd.:
The United Insurance Company (Sudan) Ltd. is a private limited Insurance Company, which has evolved from an insurance agency for the British Sun Alliance. The Company was incorporated in Sudan in 1968 by a number of Sudanese businessmen and firms and started transacting direct General insurance business in 1969.
Services
• Motor Insurance
• Marine Cargo Insurance
• Fire Insurance
• Personnel Insurance
• Cash Insurance
• Liability Insurance
SHIEKAN Insurance & Reinsurance Co.:
SHIEKAN Insurance & Reinsurance Co. Ltd. is a Sudanese company, established in 1983. The company’s shareholders are; The National Economic Corporation, the policyholders and Khartoum Trading & Shipping Co, Ltd. The company’s authorized capital is US$ 5.000.000.
Services:
• Property & Engineering (Fire, Burglary, Oil and Gas, Machinery breakdown, Business interruption, Industrial All Risks…etc.)
• Marine and Aviation (Cargo, Hull, Aircraft & vessels Hulls…etc.)
• Miscellaneous Accidents (Glass plate, cash, personal accidents, professional indemnity, theft) etc
• Agriculture (Livestock & Crop)
• Motor
• Medical Group
WATANIA Co-operative Insurance Company:
Cooperative societies and other financial institutions in December 1989, together with the Farmers’ Investment Bank, the Sudan Commercial Bank, Messrs Sudan Cotton Company, the Islamic Co-operative Development Bank and other notable corporations, found the company. This headquartered at Al-Ttadamon tower, Sixth floor, Baladia Street, Khartoum.
In addition to the above-mentioned companies, we find several others working in the field of insurance such as, Al Baraka insurance (Sudan) company, Federation of Sudanese insurance and reinsurance companies, General insurance company (Sudan) ltd,
Islamic insurance company ltd (Sudan), Juba insurance company, Khartoum insurance company, Middle East insurance company ltd, National reinsurance company (Sudan) ltd. and Sudan Development Corporation and Red Sea insurance Company ltd.
Medical Insurance:
In the health and medical insurance field, we find Khartoum Medical Insurance Co. the company has branches all over Sudan and covering different aspects related to health and medical insurance, right from medical check up to major operations.
All companies have branch offices in different parts of the country, and their services are made easier after the telecom revolution and most of the companies’ business deals are carried through Phone or online.
