Takaful Presentation on Trends by Country, Underwriters

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Trends in takaful and retakaful underwriters, new and growing writers, country trends, and product and distribution news are investigated by ClaudePenland.com. Free to download and share.

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Recent Trends in Takaful A Presentation by Claude Penland, Associate of the Casualty Actuarial Society www.ClaudePenland.com

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Saudi coffee market valued at SR15b Financial Services Monitor Worldwide Coffee consumption has risen sharply in the Kingdom of Saudi Arabia whereby 18,000 tons worth SR203 million are imported. The growth in coffee processing has helped boost the Saudi market for cafes to a notable SR 15 billion. The latest statistics issued by the International Coffee Organization (ICO) showed that 1.4 billion cups of coffee are consumed a day worldwide. Within the coffee shop industry, Bonnon Coffee AA part owned by the SEDCO Holding Group - is a local Saudi brand that competes with global coffee chains. The company was established in 2006 and Salem bin Mohammed Bin Mahfouz serves as chairman of its management board. It has grown steadily ever since to compete with major multinational companies by opting for high-quality products and providing constantly its clientele with outstanding service. The CEO of Bonnon Coffee Ltd Khalid Bin Hamad has forecasted that coffee sales would rise by 77 percent in 2016, thereby overtaking tea sales, which are projected to rise by 49 percent only amid the stiff competition of global and local companies. Given the positive outcome reflected in local consumption, these sales are expected to increase especially in the areas targeted for development by the government. CEO of SEDCO Holding Group Anees Ahmed Moumina reckons that the current proliferation of cafes is normal because working conditions have contributed to the widespread use of cafes among of Saudi youths. He further said: AAAmong the company's top priorities next year will be continued strategic growth through the installation of more outlets, the introduction of advanced ways of giving prominence to the Bonnon brand and focusing on the company's core business, particularly in Bonnon coffee shops, which provide a drive-thru sales serviceA[yen]. Khalid Bin Hamad also indicated that the company, under its brand AABonnon CoffeeA[yen] provides its clientele with all varieties of coffee products that suit all palates and mindsets under one commercial roof that values authentic culture. It also values the palate's natural transformation in modern times. He said Bonnon Coffee has devised outlets in a bid to satisfy the growing demand for fast coffee through specialized small sale channels both indoor and outdoor, to reach out faster to the largest number of consumers and at the lowest cost, in order to compete for a very limited segment of prime locations that are suitable for a drive-thru facility. Its brand coffee shop located in Red Sea Mall was also recently renovated to add a modern touch to its atmosphere and upgrade its menu offering. Bonnon Coffee is planning to come up with new varieties of coffee delicacies based on clear commercial concepts and vision. The company has sought throughout its foundation stage and development to secure its own brand AAGenuine Coffee HabitatA[yen] by coming up with all modern and genuine coffee products of the highest quality and in.

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