Global Advanced Research Journal of Economics, Accounting and Finance (GARJEAF)
December 2017 Vol. 5(1), pp. 001-007
Copyright © 2017 Global Advanced Research Journals

 

Full Length Research Paper

Impact of the Financial World Crisis on the Arabic Insurance Market

Mohamed Elhag Abdalla Musa Ali 

 The National Ribat University- Faculty of Economics, Sudan.

Corresponding Author Email: wadalhag7@gmail.com

Accepted 24 November 2017

Abstract

The economic effects of the current financial world's crisis included acute declines in economic output, a decline in the value of currencies, and rises in inflation, interest rates and aggravated debt, all  that produced multiple effects on the Arab and world insurance market, presented in the declination of demand for insurance, which led to a decline in new business , rise in insurance rates, caused an increase in the value of claims as a result of price increases and existence of mismatch between assets and liabilities, which reduces the solvency of insurance companies.

Keywords: world Financial Crisis, insurance, Takaful Insurance.

 

References

Ahmed MD (2008). World financial crisis, its effects and treatment- scientific paper provided to discussion loop held under entitled: Financial Crisis in U.S. Aden.

Dr. Waleed A (2008). the global financial crisis, nature, causes, and impacts the future of the global economy and the Arab world - scientific paper submitted the Forum International about the financial crisis and alternatives banking (Islamic banking system model   (5 to 6 May 2009) - Algeria - Institute of Economic Sciences and the Science Steering- P.26.

Dr. Waleed A (2008). the global financial crisis, nature, causes, and impacts the future of the global economy and the Arab world, P 12- 13.

George  ER (2006). Principles of Risk Management and Insurance,. Translated and reviewed by Mohamed Tawfiq Elblgini and Prof. Ibrahim Mohamed Mahdi- El Mariekh Press – KSA- Riyadh , P. 872.

George ER, Ibid  P. 875.

IMF. Regional Economic Outlook  (2009). Middle East and Central Asia. Ibid P. 6.

IMF. Regional Economic Outlook (2009).  Middle East and Central Asia. P.5.

IMF. Regional Economic Outlook (2009). Middle East and Central Asia. P.11.

Journal Pioneer (2001). Arab Union Reinsurance - Damascus - number (71) second quarter p 17-18.

Journal Pioneer (2008). Arab Union Reinsurance - Damascus - numbe (99 ) fourth quarter p 12-13.

Journal Pioneer (2008). Arab Union Reinsurance - Damascus - number (99 ) fourth quarter p 12-13.

Nalini PT (2007).  Insurance theory and practice –  Hall of India Private Limited – New Delhi – 2007 P.143.

Newsweek magazine (2009) Issue 11(8): 4-5.

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The crisis in Arab countries. Monitoring.” Casa Arab Economy and Business Bulletin. Issue(13): 10.

World Union in Takaful Insurance Companies , P10-11.

Yasir Mohamed GB (2009). World Financial Crisis and its impact on Islamic Banks, Scientific paper presented to the International Forum about Financial Crisis and bank alternatives( Islamic Bank as case study) 5-6 May 2009- Algeria , Economic Sciences Institute – P. 8-10.


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