Country Dashboards

45 mn
US$35 bn
Inflation rate

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 17 mn
Non-life premium volume (USD) 299 mn
Total premium volume 316 mn
Total premium volume (SDG) 731 mn
Insurance penetration: Premiums in % of GDP 0.48%
Insurance density: Premium / capita USD 7.89
Local currency SDG
Market Composition
Domestic life insurers 4
Domestic non-life insurers 3
Domestic composite insurers 14
Foreign life insurers 0
Foreign non-life insurers 0
Foreign composite insurers 0
Domestic reinsurers 1
Foreign reinsurers 2
State-owned insurers 0
State-owned reinsurers 0
Insurance intermediaries 283
Reinsurance intermediaries 2
Insurance Regulatory Authority
National insurance Regulatory Authority - Khartoum, Sudan P.O. Box 1051

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates Yes
Cross-border insurance allowed Yes
Bancassurance is allowed Yes
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions Yes
Minimum capital requirement SDG 500 000 000
Minimum paid-up share capital SDG 100 000 000
Requirement for independent audits Yes
Requirement to appoint actuaries No
Premium rate approval needed No
On-Going Supervision
Solvency referred to as the difference between assets and liabilities Yes
RBC (Risk-based capital) principles applied No
Ceded reinsurance is regarded as a permissible asset Yes
Compulsory insurance lines Motor TPL, Cargo Import.
Compulsory reinsurance cessions Yes
Insurance companies in difficulties
Established guarantee or policyholder protection fund Yes
The Africa Re office that supports this location is: