Shiekan Insurance & Reinsurance Co. Ltd. Copy of mona
 
 

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      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.
     Shiekan transacts the cooperative insurance which dictates the distribution of the surplus generated by the insurance operations to the policyholders, an aspect, among others, characterizing this type of insurance as compared to the conventional insurance industry. However, technically speaking the two are similar. In fact, in addition to the insurances of the public sector, Shiekan captures the biggest stake of the Sudanese private insurance business thanks to the private sector’s trust in a big portfolio, well balanced and backed by first class reinsurance treaties. In terms of annual premiums written in the Sudanese market (general & life), Shiekan has now come to occupy a leading position with about 70 % market share in 2005.  The company spreads countrywide with well established and staffed branches and agencies in most of the 26 federal States of the Sudan, thus rendering to the clients door-to-door insurance services.



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     Shiekan provides covers of all traditional classes of general insurance and specialized risks, to mention a few :

ü      Property & Engineering   (Fire, Burglary, Oil and Gas, Machinery breakdown, Business interruption, Industrial All Risks etc.)

ü      Marine and Aviation (Cargo, Hull, Aircraft & vessels hulls and liabilities etc.)

ü      Miscellaneous Accidents (Glass plate, cash, personal accidents, professional indemnity, theft etc.)

ü      Agriculture (Livestock & Crop).

ü      Motor.

ü       Medical Group

ü       Export Credit      The company has acquired a high professionalism in tailoring insurance packages to suit any project’s specific requirements.

     Shiekan’s business is protected by an outstanding reinsurance program in the international market with first class reinsurers such as Partner Re (Paris) Swiss Re, Hanover Re  & other first class companies. Our Leading Lloyd`s reinsurance brokers are: Willis, Tyser, HSBC, UIB, besides J.B. Boda of India ….etc. Shiekan has gone one step further with putting in place a Loss Prevention Department, the first service of its kind in both local and regional insurance markets. In essence, this service is that Shiekan turns into a partner of its clients in their concern to safeguard their properties. In reality, Shiekan is proudly providing insurance coverage for various customers operating in different fields: here are some examples:

-          Oil industry: Khartoum Refinery, GNPOC, Petrodar Operating Co ; upstream facilities pipelines, downstream facilities .. etc.

-          Aviation: Sudan Airways, Azza Avaition Co. , Government units aircrafts, Marseland Aviation Co. …. etc

-          Civil Aviation Authority: all airports equipments, airports liabilities, fire & allied perils.

-           Banks: Bank of Sudan, Omdurman National Bank, Bank of Khartoum, Saudi Sudanese Bank, Saving Bank, etc

-          Engineering: all power stations of the National Electricity Corporation, transmission lines, etc ,  Contractor’s All Risk (CAR) coverage for Marwei Dam project, CAR for Maloot Basin Oil Development Project

-          Telecommunications: Sudatel Co., Mobitel Co.

-          Sudan Currency Printing Co.

-          Kenana Sugar Factory and all Sudanese sugar factories,

-          Agriculture: Gezira Agricultural Scheme and all irrigated schemes in Sudan.

 

DESIGEND BY MONA HASSAN ELHAG (2005)
SUPERVISED BY IT MANAGER WADEA
ALL RIGHTS RESERVED( SHIEKAN INSURANCE & REINSURANCE CO. LTD.)