WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 22, 2025
The Role of Insurance Industry in Managing the Financial Risks of Manufacturing Enterprises in Sudan
Author:
Abstract: To evaluate the insurance industry's role in managing the financial risks of manufacturing enterprises in Sudan. Methodology: The descriptive-analytic approach has been employed to assess the aims and objectives. The statistical records were surveyed during the year 2001 by the Ministry of Industry. Results: 76% of the respondents of all types of manufacturers believed that the finance manager dealt with risk management. 95% of the respondents believed that risk management is directly associated with financial aspects. Self-insurance would not become popular in Sudan, which has an insignificant association (p-value=0.460). Conclusion: The risk has been managed by the finance managers of firms; whereas, it requires an employee with a risk management background and experience in the insurance industries of Sudan. Therefore, the study has recommended the promotion of more strategies to enhance risk management concepts among employees, who were working in the insurance sector.
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Keywords: Insurance, Risk Management, Finance, Managers, Manufacturing, Enterprises, Risk Awareness, Significant Role, Loss Mitigation
Pages: 280-287
DOI: 10.37394/23207.2025.22.27