African Insurance

What African Insurance does

African Insurance (افريكان للتأمين) is a Sudanese public shareholding company with limited liability that operates under Islamic Takaful insurance principles, holding Insurance Supervisory Authority License No. 31 to underwrite all classes of insurance in Sudan. The company is headquartered in Port Sudan and maintains a nationwide branch and service-office network across Khartoum state and other Sudanese states, alongside a digital self-serve layer delivered through iOS and Android applications available on Google Play and the App Store. It positions itself as the first electronic insurance service provider in Sudan.

The company underwrites eight core lines of business: Medical, Marine, Vehicle, Money, Engineering, Travel, Property, and Fire insurance, plus guarantee letters and a newly launched microfinance insurance line. Its distribution is a hybrid model — physical branches for institutional and individual service plus mobile apps for self-serve — targeting both consumer (Individuals) and enterprise (Institutions) segments with named corporate clients including Gapco (oil & gas), Sudanese Savings Bank, and Blue Mashreq Bank.

Revenue mechanics are premium-driven and recurring. Total underwriting revenue grew 362.5% from 154.5M SDG in 2022 to 714.5M SDG in 2023, with marine insurance overtaking diversified accidents as the largest line (47% of 2023 premiums). The company cedes 61.8% of underwriting outward via reinsurance, holds 77% solvency (well above the 20% regulatory minimum), and posted 20.2M SDG of net shareholder profit in 2023 on a 4% return on equity. Pricing is quote-based and risk-assessed rather than tiered publicly, and the entire operation is concentrated in a single high-risk geography — Sudan, which is in active conflict and macroeconomic crisis.

Name

African Insurance

Legal name

شركة أفريكان للتأمين

Website

https://africaninsuranceco.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

African Insurance (افريكان للتأمين) is a Sudanese Sharia-compliant (Takaful) insurer, the country's first electronic insurance provider, offering eight insurance lines — medical, marine, vehicle, money, engineering, travel, property, and fire — to individuals and institutions across Sudan through branches and mobile apps.

Ownership category

akta.pro rank

Product category

Islamic Takaful Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

akta.pro secondary industries

Travel & Accident (Non-Life) Insurance (FSAJAMAN), Liability, Accident & Program Insurance (Institution/Provider Coverage) (EDAIAMAJ)

Keywords

• Islamic Takaful insurance
• Medical insurance
• Marine insurance
• Vehicle insurance
• Electronic insurance platform

Headquarters

HQ city

Port Sudan

HQ country

Sudan

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Premiums: The company collects insurance premiums across multiple lines including motor (10%), marine (47%), fire and theft (15%), engineering, diverse accidents, guarantee letters, and microfinance insurance. Revenue grew 362.5% from 154.5M SDG in 2022 to 714.5M SDG in 2023.
2. Reinsurance: Outward reinsurance premiums of 441.4M SDG in 2023, representing 61.8% of total underwriting, providing risk transfer and capacity support.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

African Insurance provides Sharia-compliant Islamic Takaful insurance coverage across eight product categories — Medical, Marine, Vehicle, Money, Engineering, Travel, Property, and Fire — for both individual and institutional customers in Sudan. It operates the first electronic insurance service in the country, complemented by dedicated mobile applications on Google Play and the App Store, and holds operating license No. 31 from the Sudanese Insurance Supervisory Authority.

Product overview

African Insurance is an Islamic insurance (Takaful) company offering a diversified portfolio of eight core insurance products. The company provides Medical Insurance, Marine Insurance, Vehicle Insurance, Money Insurance, Engineering Insurance, Travel Insurance, Property Insurance, and Fire Insurance. All products are delivered through electronic platforms with branch networks across Sudan, operating under Islamic insurance principles (Takaful) and under regulatory supervision of the National Insurance Regulatory Authority (License No. 31).

Differentiator

Problem solved

Functional benefit

Products and services

• Medical Insurance (التأمين الطبي)

Quantifiable outcome

• 362.5% growth in total underwriting from 154.5M to 714.5M SDG between 2022-2023
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Ministry of Finance and Economic Planning (السودان)coreOthersGovernment ministry responsible for economic oversight and insurance sector policy direction
• Insurance Supervision Authority (جهاز الرقابة على التأمين)coreOthersNational regulatory body overseeing insurance operations in Sudan, issuing license No. 31 to African Insurance
• Central Bank of Sudan (بنك السودان المركزي)minorOthersCentral monetary authority and financial sector regulator
• Blue Mashreq Bank (بنك Nile Blue Mashreq)minorOthersPartner bank referenced in company's useful links
• Traffic Police Department (الإدارة العامة للمرور)minorOthersGovernment traffic authority referenced for vehicle insurance coordination

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• United Insurance Co. of Sudan: Long-established Sudanese insurer offering diversified P&C products. Comparable on product mix, distribution (branches across Sudan), and customer base including corporate accounts.
• Shiekan Insurance & Investment Co. Sudanese insurance carrier operating in the same domestic market across multiple lines including motor, marine, fire, and engineering. Directly comparable as a Sudanese non-life insurer competing for the same institutional and individual policyholders.
• Blue Nile Insurance Co. Sudanese general insurance carrier providing motor, marine, fire, and engineering coverage. Directly comparable as a domestic multi-line P&C competitor under the same licensing regime.
• Islamic Insurance Company of Sudan: Sudanese Takaful operator offering Sharia-compliant insurance products. Closest functional peer given shared Takaful model and Sudanese regulatory environment under the Insurance Supervisory Authority.

Regional players

• Walaa Cooperative Insurance (KSA): Saudi-listed cooperative insurer offering motor, medical, property, and engineering coverage. Comparable on multi-line cooperative/Takaful-style architecture and emerging-market regulatory dynamics.
• Takaful Malaysia: Largest Malaysian Takaful operator with diversified family and general Takaful products. Comparable as a Takaful specialist that has successfully scaled digital distribution in an emerging market — a useful scale/comparable reference.
• National Reinsurance Company (Sudan): Sudan's national reinsurer — a counterparty and structural reference point for African Insurance's 61.8% reinsurance cession. Comparable as a regional insurance/reinsurance operator in the same regulatory jurisdiction.

Broad incumbents

• AMAN Insurance (UAE): UAE-based cooperative insurer with significant Takaful-style and conventional offerings across motor, medical, and general lines. Comparable as a regional insurance carrier with similar multi-line strategy.
• Solidarity Saudi Takaful Co. Saudi-listed cooperative Takaful insurer offering motor, medical, and general lines. Comparable on Takaful product architecture, regulatory compliance depth, and underwriting diversification.
• Salama Cooperative Insurance (UAE): One of the largest listed Takaful operators in the GCC, offering family, motor, medical, and general Takaful. Comparable as a mature regional Takaful incumbent that demonstrates the scaling pathway for Islamic-insurance carriers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/african-insurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about African Insurance