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Journal articles on the topic 'Nigerian Insurance Industry'

Author: Grafiati

Published: 5 June 2025

Last updated: 2 August 2025

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1

Falana, Olasupo Solomon, and Joshua Adewale Adejuwon. "Predictors of Profitability in the Nigerian Insurance Industry." Journal of Economics, Finance and Management Studies 05, no. 11 (2022): 3367–77. https://doi.org/10.5281/zenodo.7353556.

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This study examined the predictors of profitability in Nigeria Insurance Industry between 2011 and 2020. It looked into the effect of financial leverage, solvency margin, financial liquidity and risk underwriting on Profitability of insurance industry in Nigeria. In the study, descriptive research design was employed with the population of thirteen (N=13) composite insurers from which a sample of six (n=6) were randomly selected. Four hypotheses were tested using e-view. Findings showed that SOVEREIGN TRUST plc has the highest ROE with mean value of 0.058489 followed by LEADWAY Insurance Plc w

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2

Okiche, Ebelechukwu, Emeka Adibe, and Clara Obi-Ochiabutor. "Dysfunctional Nigerian Insurance Industry: Failure of Law or Regulation?" Nigerian Juridical Review 17 (July 13, 2022): 109–31. http://dx.doi.org/10.56284/tnjr.v17i1.30.

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This work interrogates the reason for the poor performance of the Nigerian insurance industry. The reason for doing this is that there is a strong correlation between insurance and development. The illiterate villager in the remotest part of Nigeria understands the advantages of "pooling" in risk mitigation. A system of coming together to contribute resources into a pool in order to take a small percentage of same to compensate the few members of the group who suffer risks is very much part of the everyday life of the traditional Nigerian society. This is what insurance is all about. Insurance

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3

Saka, T. S., and O. J. Abere. "Enterprise Risk Management in the Nigerian Insurance Industry." BOHR International Journal of Advances in Management Research 1, no. 1 (2022): 106–12. http://dx.doi.org/10.54646/bijamr.013.

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The study looked at how Nigerian-listed insurance companies performed in terms of enterprise risk management (ERM). An ex post facto research design was used in the study. According to Nigeria Stock Exchange (NSE) data, as of December 30, 2021, there were 23 insurance businesses listed on the Exchange (NSE). Ten Nigerian insurance firms made up the sample size. In choosing the selected firms, we used the convenience sampling approach. The sample firms’ financial statements and annual reports were used to collect data for the study. The statutory audit of the financial accounts served as the fo

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4

Okparaka, V. C., P. A. Abiodun, O.G. Eneh, C. P. Isaac, and C. J. Okafor. "Effect of Liquidity Risk on the Investment of the Nigerian Insurance Industry." International Journal of Advanced Finance and Accounting 3, no. 5 (2022): 41–52. https://doi.org/10.5281/zenodo.7414218.

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<em>This study was on the effect of liquidity risk on the investment of the Nigerian insurance industry. The specific objectives of the study were to examine the effect of liquidity risk on insurance industry investments in federal government securities; and evaluate the effect of liquidity risk on insurance industry investments in stocks and bonds. The research design applied was Ex-post facto design. Hypotheses formulated were tested using the Ordinary Least Squares statistical technique. It was found that liquidity risk did not have a positive and significant effect on insurance industry in

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5

Saka, T. S., and O. J. Abere. "Enterprise risk management in the Nigerian insurance industry." BOHR International Journal of Advances in Management Research 2, no. 1 (2023): 22–28. http://dx.doi.org/10.54646/bijamr.2023.13.

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The study looked at how Nigerian-listed insurance companies performed in terms of enterprise risk management(ERM). An ex post facto research design was used in the study. According to Nigeria Stock Exchange (NSE) data, asof December 30, 2021, there were 23 insurance businesses listed on the Exchange (NSE). Ten Nigerian insurancefirms made up the sample size. In choosing the selected firms, we used the convenience sampling approach. Thesample firms’ financial statements and annual reports were used to collect data for the study. The statutory auditof the financial accounts served as the foundat

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6

Nafiu, Najimu Ayinde1 Yusuf Jimoh Adeniyi2 Aderibigbe Feyisayo Oluwasola3. "CORPORATE GOVERNANCE AND SUSTAINABILITY IN NIGERIAN INSURANCE COMPANIES." ISRG Journal of Economics, Business & Management (ISRGJEBM) II, no. I (2024): 130–36. https://doi.org/10.5281/zenodo.10726655.

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<em>This research is studying the association of corporate governance and sustainability of Nigerian insurance companies. The research is investigating on the association of governance of corporate and sustainability (assets’ return) of Nigerian insurance companies. Ex-post facto is adopted as research design from financial reports of insurance companies for ten (10) years (2010-2019).  This study is to employ multiple regression analysis as the estimating tool for investigating effect of governance of corporate on the Nigerian insurance enterprises sustainability. We, however concl

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7

Zaccheaus, JACOB, NWALA, Nneka Maurie, and SUBERU Abubakar Adagu. "Effect of Formal Financial Sector on Financial Deepening in Nigeria." International Journal of Economics, Business and Management Research 07, no. 07 (2023): 70–90. http://dx.doi.org/10.51505/ijebmr.2023.7706.

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This study examined the effect of the formal financial sector on financial deepening in Nigeria for the period 2012Q1 to 2022Q3. The specific objectives of the study were to investigate the effect of deposit money bank development on financial deepening in Nigeria; to assess the effect of the insurance industry development on financial deepening in Nigeria; to determine the effect of stock market development on financial deepening in Nigeria. The study adopted an ex-post facto research design from the quarterly time series data generated from the Central Bank of Nigeria statistical bulletin on

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8

Esang, Ankoh U. "Employer’s liability insurance and employee’s value added in Nigeria petroleum industry (2015-2023)." International Journal of Multidisciplinary Research and Growth Evaluation 5, no. 2 (2024): 600–610. http://dx.doi.org/10.54660/.ijmrge.2024.5.2.600-610.

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This study examines the effect employer’s liability insurance on Employee Value Added in the Nigerian petroleum industry. The human, social and economic costs of occupational accidents, injuries and diseases and major industrial disasters have long been cause for concern at all levels, from the individual workplace to the national and international. The secondary data gathered for the study covered the period from 2015 to 2023. These data were collected from the consolidated financial statement of the selected companies. Cross-sectional research design was employed in this study and pooled lea

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9

Dada, Durotimi Amos, Taiwo Ibitomi, Bankole Aderotimi, and Paulina Shittu Gaude-Jiwul. "Insurance Premium and The Growth of Nigeria Economy (2007-2021)." European Journal of Business and Innovation Research 11, no. 6 (2023): 14–32. http://dx.doi.org/10.37745/ejbir.2013/vol11n61432.

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The insurance industry's growing share of the global financial sector in both developed and developing countries has moved focus to the insurance-growth relationship. As a result, the study looked at the effect of insurance on Nigerian economic growth from 2007 to 2021. The study's goals were to look at the impact of life, and total insurance premiums on the growth of the Nigerian economy after the insurance regulations and reforms were implemented in 2006. Ex-post facto analytical research design was adopted in this work. The National Bureau of Statistics and the Central Bank Statistical Bull

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10

Banjo, Kudirat Adeola, and Fatai Adewale Oloyede. "Enhancing the Performance of Micro Insurance Industry in Nigeria Through Online Insurance Products." Advances in Multidisciplinary and scientific Research Journal Publication 29, no. 4 (2021): 329–43. http://dx.doi.org/10.22624/aims/abmic2021-v2-p26.

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Currently in Nigeria, none of the products of micro insurance industry can be acquired by interested customers just the same way customers can acquire banking products at the comfort of their homes through the aid of technological advancement, this study hereby focused on enhancing the performance of micro insurance industry in Nigeria through online Insurance Products. Survey research design was employed for this study. Ordinary Least Square and Logit Binary Regression Models were employed to test the hypotheses of the study. To conclude this study, we should simply agree that Online Insuranc

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11

Banjo, Kudirat Adeola (PhD) &., and Fatai Adewale Oloyede. "Enhancing the Performance of Micro Insurance Industry in Nigeria Through Online Insurance Products." Advances in Multidisciplinary and scientific Research Journal Publication 29 (December 30, 2021): 329`—343. http://dx.doi.org/10.22624/aims/abmic2021-v2-p26x.

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Currently in Nigeria, none of the products of micro insurance industry can be acquired by interested customers just the same way customers can acquire banking products at the comfort of their homes through the aid of technological advancement, this study hereby focused on enhancing the performance of micro insurance industry in Nigeria through online Insurance Products. Survey research design was employed for this study. Ordinary Least Square and Logit Binary Regression Models were employed to test the hypotheses of the study. To conclude this study, we should simply agree that Online Insuranc

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12

Ukpong, Mfon Sampson, Taiwo Olarinre Oluwaleye, and Aishat Oladunni Usman. "Digitalization of Insurance Claim Services and Efficient Customer Service Delivery in Nigeria." Lead City Journal of the Social Sciences (LCJSS) 9, no. 3 (2024): 45–60. https://doi.org/10.5281/zenodo.14504422.

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Claim settlement is one of the core insurance functions. It is important for an efficient claim management system enhanced by digitalization to boost the confidence of the insured in the claim settlement process and to project a good image of the insurance industry. This study examines the digitalization of insurance claim services and its prospects for efficient customer service delivery in Nigeria. The objectives of this study are to ascertain if insurance claimsservices have been digitalized in the Nigerian insurance industry, to examine if digitalization promotes e

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13

DURU, Japhet O., Godwin Emmanuel OYEDOKUN, Abiodun Babatunde Onamusi, and Moyosore Akingbade ADEWUNMI. "Effect of Regulatory Support as Contextual Factor on Performance of Insurance Industry Operators in Lagos State, Nigeria." Indiana Journal of Economics and Business Management 4, no. 6 (2024): 38–47. https://doi.org/10.5281/zenodo.14568682.

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This study investigated the effect of regulatory support as contextual factor on performance of insurance industry operators in Lagos State, Nigeria. The sample of the study comprises of seventeen (17) food and beverage companies listed on the Nigerian Stock Exchange market. Primary data will be collected to address the objectives of this study. The study аdоpted structured closed-ended questionnaires to collect data from the top strategic units of the insurance industry operators in Lagos State, Nigeria. The seventy insurance operators are categorized into sixty-seven (67) insurance companies

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14

Owoeye, Ibidapo, and Margaret Loto. "Exchange Rate Misalignment and Insurance Industry Performance in Nigeria." Journal of Economics and Policy Analysis 5, no. 2 (2020): 77–88. https://doi.org/10.52968/25748087.

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The study examines the impact of the Exchange Rate Misalignment on Insurance Industry in Nigeria. A sample of 28 firms is involved for the period 2007 to 2018comprising 336annual observations. To achieve the objective of the study, the research utilises secondary data from the financial audited accounts of insurance firms obtained through the Nigerian Stock Exchange (NSE).The dependent variable is captured using deviation from the average equilibrium exchange rate and insurance industry performance is measured using investment income..A static panel is employed for the analysis, the observatio

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15

Odo, Cosmas Ogobuchi, Chinedu Crescent Okeke, and Deborah Patience Okoro. "Contributory Pension Scheme and Insurance Industry’s Equity Investments in Nigeria." Archives of Business Research 10, no. 10 (2022): 78–95. http://dx.doi.org/10.14738/abr.1010.12774.

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The paper explores the nexus between contributory pension and growth of the Nigerian insurance industry. Proxies for insurance industry growth were taken as direct premium generated and growth of its investments, especially equity investments. Given that equity investment was one of the prescribed investment outlets for insurance industry funds in Nigeria, authors hypothesized that the contributory pension Act of 2014 would spur rapid growth in equity investments of the industry for the period investigated. Ex-post facto research design was followed and data were drawn from the annual accounts

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16

Nkoro, Emeka, NenuBari Ikue-John, and Chidinma Mary Nwantah. "The Performances of insurance industry and the Nigerian economic growth." Bussecon Review of Social Sciences (2687-2285) 1, no. 1 (2019): 06–12. http://dx.doi.org/10.36096/brss.v1i1.97.

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This research analyzed the insurance industry and economic growth in Nigeria between 1980 and 2015. Secondary data ranging from real gross domestic product, the premium of the insurance business, claim expenditure of insurance industry and inflation rate were utilized and sourced from Central Bank of Nigeria (CBN). The Ordinary Least Squares (OLS) multiple regression techniques, Descriptive statistics, Augmented Dickey-Fuller (ADF) test of stationarity and ARDL Bound Test Co-Integration were adopted for the model in the Study. The findings revealed that the premium of the insurance industry (P

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17

N Deekor, Leelee. "Insurance Sector Performance and the Nigeria’s Economic Growth." International Journal of Advanced Multidisciplinary Research and Studies 4, no. 3 (2024): 1367–73. http://dx.doi.org/10.62225/2583049x.2024.4.3.2947.

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The study examines insurance industry’s contribution to economic growth in Nigeria. For estimation analysis, the study employed Autoregressive Distributive Lag (ARDL) bond test, Error Correction Mechanism (ECM) and Diagnostic test.). The findings revealed that at 5% level of significance in the short run, life premium (LP) related positively with growth rate (GR) in an insignificant manner while non-life premium (NLP) contributed negatively and insignificantly to growth rate. However, in the long run, life and nonlife insurance premium influences the growth of the Nigerian economy. Therefore,

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18

KOLAPO, Funso Tajudeen (Ph.D), Haadi Babatunde (Ph.D) ASIYANBI, and Samuel Obafemi (Ph.D) DADA. "Globalisation and Insurance Sector Penetration: Macro Evidence from Nigeria." Journal of Economics, Finance And Management Studies 08, no. 01 (2025): 640–49. https://doi.org/10.5281/zenodo.14753392.

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The impact of globalisation on the penetration of the insurance industry in Nigeria from 1987 to 2021 was investigated in this study using the distributed lag long-run estimating technique. The results from the use of KOF Globalisation index showed that globalisation promotes penetration of the insurance sector (Coeff =0.1388; p. value0.01). It furthered revealed that Insurance penetration rate rises with increased GDP per capita, population, and financial sector development. However, inflation reduces insurance penetration rate. Globalisation greatly aids in the penetration of the insurance s

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19

Wada, Najib Abbas, Naja'atu Bala Rabiu, and Kabiru Isa Dandago. "Risk Committee and Risk Disclosure Quality: Evidence from Listed Insurance Firms in Nigeria." Journal of Accounting Research, Organization and Economics 6, no. 2 (2023): 162–82. http://dx.doi.org/10.24815/jaroe.v6i2.32169.

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Objective –This study investigated the impact of risk committee characteristics on the risk disclosure quality (RDQ) of listed insurance firms in Nigeria from 2011-2021.Design/Methodology –Data for the research was generated from the annual reports and financial statements of seventeen listed insurance firms sampled out of a population of twenty-one. The study employed descriptive summary statistics, correlation analysis, regression analysis and factor analysis to analyze the data gathered.Results –Using factor analysis, it was found that Risk Disclosure Quantity (RDQUANT) has the highest eige

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20

Sampson, Ukpong Mfon. "AN EMPIRICAL INVESTIGATION INTO THE RELATIONSHIP BETWEEN PREMIUMS AND CLAIMS PAID IN THE NIGERIAN INSURANCE INDUSTRY: A 2000-2017 ANALYSIS." International Journal of Management & Entrepreneurship Research 1, no. 1 (2020): 9–17. http://dx.doi.org/10.51594/ijmer.v1i1.2.

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This study is an investigation into the relationship between premiums received and claims paid in the Nigerian insurance industry over the period 2000-2017. Data on gross premiums received and gross claims paid over the period were gotten from the Central Bank of Nigeria (CBN) statistical bulletin, National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) annual reports. Stationarity test carried out on the data reveal that data is stationary at the 1%, 5% and 10% levels of significance. The cointegration test reveals that no cointegration exists among the variables wh

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21

Agbaje, A. R. Ayeni, I. A. Adebayo, and Roseline Osatohanmwen Adeboboye. "Examining the Influence of Risk Management Committee Dynamics on Financial Performance: A Case Study of Listed Insurance Companies in Nigeria." Asian Journal of Economics, Business and Accounting 24, no. 5 (2024): 354–70. http://dx.doi.org/10.9734/ajeba/2024/v24i51315.

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The Nigerian insurance industry has experienced substantial growth due to factors like increased awareness, regulatory reforms, and technological advancements. This research aimed to explore how the composition, structure, and activities of risk management committees influence key financial performance metrics, focusing on return on assets (ROA). Data from annual reports and audited financial statements of selected insurance companies listed on the Nigerian Exchange Group from 2013 to 2022 were analyzed using both descriptive and inferential statistics. The study revealed that risk management

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22

L., Wahua,, and Kenea, G. F. "Supervisory Regulation and Performance of Insurance Industry." African Journal of Economics and Sustainable Development 8, no. 1 (2025): 65–79. https://doi.org/10.52589/ajesd-buebo6lt.

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Claims settlement by insurance companies is a hydra-headed issue in many third-world-and-emerging economies. Therefore, the need to increase the confidence of the insured in insurance coverage necessitated this study which is based on resource-capability theory, quantitative paradigm, and descriptive research design. Secondary data for 2010 – 2019 was collected from the 2019 edition of Nigerian Insurers Associations’ Digest. The independent variable is insurance regulations while performance is the dependent variable with two (proxies insurance claims settlement and insurance awareness). Based

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23

Sunday, Adeyemi Abidemi, and Dr Hartini Ab Ghani. "An Assessment of Insurance Service Sector in Nigeria." International Journal of Research and Innovation in Social Science VII, no. VI (2023): 1763–76. http://dx.doi.org/10.47772/ijriss.2023.7747.

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This research extensively investigates insurance services in Nigeria. By conducting a comprehensive review of academic journals from various databases, the study explores several subjects related to the Nigerian insurance service, using keywords such as: attitudes, risk perception, marketing strategies, regulatory factors, and customer behaviour. The findings underscore the significance of positive attitudes towards insurance and the role of trust, confidence, and awareness in driving the adoption of insurance. Socio-cultural factors and religious beliefs also play a role in shaping insurance

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24

Adeniyi, Demehin James, Adewole Joseph Adeyinka, and Iyodo Babayaro. "Insurance Companies and the Efficiency of Financial Intermediation in Nigeria." American International Journal of Economics and Finance Research 1, no. 1 (2019): 21–33. http://dx.doi.org/10.46545/aijefr.v1i1.59.

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The study examined the relationship between insurance companies and financial intermediation in Nigeria.The insurance industry is a vital part of the entire financial system. Apart from commercial banks, insurance companies contribute significantly to financial intermediation of the economy. Despite the fact that insurance companies are vital part of Nigerian financial system, Nigerian insurance companies have been struggling to meet up with their objective of enhancing sound financial intermediation efficiency. The objective of this study is to examine the relationship between Total insurance

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25

Soladoye, Abidemi, Ijeoma Olabisi Dominic, Nasamu Gambo, and Hauwa Lamino Abubakar. "Effect of Enterprise Risk Management on the Profitability of Insurance Companies in Nigeria." European Journal of Accounting, Auditing and Finance Research 12, no. 1 (2024): 51–70. http://dx.doi.org/10.37745/ejaafr.2013/vol12n25170.

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Nigeria's insurance industry, despite contributing less than 1% to Nigeria's GDP, is considered crucial to the economy as it controls large sums of money and protects businesses from diverse risks. However, concerned about business failures in the insurance industry, the National Insurance Commission in 2012, mandated the adoption of Enterprise Risk Management (ERM) by all insurance businesses in Nigeria to address this issue and to deter future business failures. This research work studied the effect of ERM on the profitability of Nigerian insurance businesses over a 10-year period, encompass

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Sijibomi, Olubodun, Judith Aimiebenomo Ehiaguina, Colombage Shairmila Iyendo,, and Nasamu Gambo. "Enterprise Risk Management and Profitability of Insurance Companies in Nigeria." European Journal of Accounting, Auditing and Finance Research 13, no. 1 (2025): 71–90. https://doi.org/10.37745/ejaafr.2013/vol13n17190.

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Nigeria's insurance industry, despite contributing less than 1% to Nigeria's GDP, is considered crucial to the economy as it controls large sums of money and protects businesses from diverse risks. However, concerned about business failures in the insurance industry, the National Insurance Commission in 2012, mandated the adoption of Enterprise Risk Management (ERM) by all insurance businesses in Nigeria to address this issue and to deter future business failures. This research work studied the effect of ERM on the profitability of Nigerian insurance businesses over a 10-year period, encompass

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27

Nwosa, Philip Ifeakachukwu, and Zainab Bolanle Mustapha. "The Dynamics of Insurance Development and Economic Growth in Nigeria." Indian Economic Journal 65, no. 1-4 (2017): 37–44. http://dx.doi.org/10.1177/0019466217727813.

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This study examined the dynamics of insurance development and economic growth in Nigeria for the period 1996–2014. Specifically, the study addressed two important issues: the impact of insurance development on economic growth and the causal nexus between insurance development and economic growth. The study utilised two techniques: ordinary least squares (OLS) and causality. The OLS regression estimate revealed that insurance development had an insignificant effect on economic growth, while the causality estimate showed a one-way causation from economic growth to insurance development. The stud

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Aduloju, S. A., A. L. Awoponle, and S. A. Oke. "Recapitalization, mergers, and acquisitions of the Nigerian insurance industry." Journal of Risk Finance 9, no. 5 (2008): 449–66. http://dx.doi.org/10.1108/15265940810916111.

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29

Oyetayo, Yeside. "Principles-Based Regulations: A Model for Legal Reform in the Nigerian Insurance Industry." Journal of African Law 59, no. 1 (2015): 64–84. http://dx.doi.org/10.1017/s0021855315000029.

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AbstractThe development of global standards has led to a convergence in domestic regulations in the financial services sectors. Principles-based regulations (PBRs) have become essential for effective regulatory efforts in insurance and other financial services because of their flexibility, support for regulatory efficiency and the development of a good compliance culture amongst the regulated. The legal framework of the Nigerian insurance industry mainly contains prescriptive and performance-based regimes that have become ineffective as regulatory strategies. This article recommends the adopti

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Adejumo, Wahab Adewuyi, and Adetunji Raimi Tijani. "Improving Insurance Operations in Nigeria Through the Digital Technologies." Archives of Business Research 10, no. 11 (2022): 222–31. http://dx.doi.org/10.14738/abr.1011.12651.

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This paper aims to evaluate the impact of digitalization technologies on the insurance industry in Nigeria. Data were obtained from primary sources only. The primary data were collected through the mailed questionnaires that were administered to selected Chartered Insurers in Nigeria. The questionnaires were designed to reveal issues on digital transformation in Insurance industry in Nigeria. Seventy (70) questionnaires were sent to the respondents across the country in the six Geo-Political zones in Nigeria. It is noteworthy that 45% of the respondents were the Chief Executive Officers of dif

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Oluwabiyi, Ezekiel Olakunle, Timilehin Olasoji Olubiyi, and Pooja Darda. "Exploring the Impact of Relationship Marketing on Client Loyalty: Evidence from the Insurance Industry." Skyline Business Journal 20, no. 2 (2024): 18–35. https://doi.org/10.37383/sbj200202.

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The insurance market is highly competitive, which makes customer acquisition difficult and expensive. Any plan that focuses on long-term customer retention and loyalty rather than one-time purchases should be considered. Therefore, this study examines the relationship between marketing architecture and client loyalty in Lagos State, Nigeria's insurance industry. Data were collected from insurance buyers using a structured questionnaire, and 1,312 valid responses were received. Exploratory factor analysis using main component extraction and an average variance explanation proved the validity of

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Arisabor Lucky, Onyinyechi Preciousfaith Erumaka, John Udevieme Eru, and Okechukwu Julius Anyanwu. "Economic implications of maritime piracy related attacks on Nigeria’s maritime industry." International Journal of Frontiers in Engineering and Technology Research 2, no. 2 (2022): 001–12. http://dx.doi.org/10.53294/ijfetr.2022.2.2.0031.

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Due to the increasing rate of economic damages of insecurity to the Nigerian maritime industry with cases of loss of revenue to the federal government occasioned by; high freight charges for Nigeria bound cargoes, high insurance premium changeable on both ships and cargoes, coming to Nigerian and total boy-cut of the Nigerian ports by most shipping lines. The researchers were motivated to carry out a research on economic implications of maritime piracy related attacks on Nigeria’s maritime industry. This research was set out to realize some specific objectives while research hypotheses were fo

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Fadun, Olajide Solomon, Sunday Adekunle Aduloju, and Mfon Sampson Ukpong. "Fire Risk Transfer and the Nigerian Economy (1999-2019)." Studies in Business and Economics 27, no. 1 (2024): 5–21. http://dx.doi.org/10.29117/sbe.2024.0146.

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This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fire risk premium and real gross domestic product (RGDP) and assess the impact of fire risk premium on RGDP in Nigeria. The ex-post facto research design was adopted and the population consisted of all insurance companies covering fire risk as of 2019.

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ABDUL, Hussaini Zainab, JACOB, and Zaccheaus. "Effect of Pension and Insurance Funds on Financial Deepening in Nigeria." International Journal of Economics, Business and Management Research 07, no. 12 (2023): 191–204. http://dx.doi.org/10.51505/ijebmr.2023.71212.

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This study examines the effect of pension and insurance funds on financial deepening in Nigeria for the period 2012Q1 to 2023Q1. Quarterly time series data for pension funds, insurance funds and financial deepening were collected from the Central Bank of Nigeria statistical bulletin. Philip Perron test was used to test the stationarity of the data and the ARDL Bound cointegration test was utilized to determine the presence of long-run relationship. The Fully Modified Ordinary Least Squares regression method was used to test the effect of pension and insurance funds on financial deepening in Ni

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Busari, Kassim, Ishaya Luka Chechet, Aliyu Ahmed Abdullahi, and Ibrahim Mohammed. "VALUE RELEVANCE OF ACCOUNTING INFORMATION FOR LISTED FINANCIAL SERVICE FIRMS IN NIGERIA." Gusau Journal of Accounting and Finance 3, no. 3 (2022): 25. http://dx.doi.org/10.57233/gujaf.v3i3.204.

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Over a 5-year period from 2016 to 2020, this paper compares the value relevance of accounting numbers of banks and insurance firms listed on the Nigerian Stock Exchange market. The analysis used data from annual accounts of these companies and the Nigerian Stock Exchange facts sheet to apply Ohlson's (1995) valuation model to test the comparative value validity of accounting numbers of these two sub-sectors in the financial service industry. The findings of the empirical analyses revealed the importance of accounting information's value relevance to listed group financial service firms in Nige

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Obalola, Musa. "Beyond philanthropy: corporate social responsibility in the Nigerian insurance industry." Social Responsibility Journal 4, no. 4 (2008): 538–48. http://dx.doi.org/10.1108/17471110810909939.

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37

Ogbuozobe, Fidelis. "A consideration of the impact of the Companies and Allied Matters Act (1990) and the Insurance Act (2003) on the board of insurance companies in Nigeria. Part 1." International Journal of Law and Management 51, no. 5 (2009): 336–58. http://dx.doi.org/10.1108/17542430910988928.

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PurposeThis paper (which is Part 1 of 2) seeks to explore the development and implementation of good corporate governance in the financial services industry in Nigeria.Design/methodology/approachThe paper reflects upon the identification of current problems and official legislative responses in Nigeria and tests the policy and theory against actual responses and practices.FindingsWith the collapse of such mega companies as Enron in the USA and the near‐collapse symptoms observed in such a relatively big company as Cadbury Nigeria, such research as this, on the issue of compliance or otherwise

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ARAGA, Abdullahi Shehu, and Sufian Babatunde JELILI. "FRAUDS AND FORGERIES ON THE PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY." LASU Journal of Employment Relations & Human Resource Management 1, no. 1 (2018): 61–68. http://dx.doi.org/10.36108/ljerhrm/8102.01.0180.

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This study focused on Frauds and Forgeries and the Performance of the Nigerian Banking Industry. The research method adopted is the Ex-Post-facto method. Data were sourced from the various publications of the CBN Statistical Bulletins and the Nigeria Deposit Insurance Corporation (NDIC)Publications. These data were analyzed using regression analysis. The period for this study covered between 1994 and 2016. The study established that: the number of reported frauds and forgeries cases has a significant positive on bank performance in Nigeria, the total amount involved in frauds has negative sign

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Olaniyi, Oluwaseun O., Olugbenga O. Olaoye, and Olalekan J. Okunleye. "Effects of Information Governance (IG) on Profitability in the Nigerian Banking Sector." Asian Journal of Economics, Business and Accounting 23, no. 18 (2023): 22–35. http://dx.doi.org/10.9734/ajeba/2023/v23i181055.

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Aims: The article provides an overview of the Nigerian banking industry, highlighting its regulation by the Central Bank of Nigeria (CBN) and the role of information governance (IG) in enhancing the industry's robustness. Despite being recognized as one of the top performers in Africa, there are inconsistencies in information governance, particularly in data management. Place of Study: The case study of Capital One showed that implementing appropriate governance policies could have either entirely mitigated the attack or reduced the time the hackers had unauthorized access, minimizing th

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Olubukola Sarah, Oyewole, Frankline C.S.A. Okeke, Oluchukwu Gloria Okeke, Moh Agus Nugroho, and Ezeilo Beactrice Chinonye. "How Firm Characteristics Affect the Timeliness of Financial Disclosures in Nigerian Insurance Firms." Jurnal Ilmu Perbankan dan Keuangan Syariah 6, no. 1 (2024): 1–16. http://dx.doi.org/10.24239/jipsya.v6i1.259.1-16.

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Increasing the relevance of corporate financial statements to decision-making processes necessitates rapid availability of financial information to users. This study delves into the timely reporting practices of Nigerian insurance companies over a twelve-year period, spanning from 2009 to 2021. Through an examination of firm characteristics such as size and age, alongside the timeliness of financial reports measured by audit report delay, this research sheds light on the intricate dynamics influencing financial reporting practices within the Nigerian insurance sector. Utilizing advanced statis

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Lawal Hussein Kehinde and Ashurov Sharofiddin. "The Level of Acceptance and Awareness of Takaful in Nigeria." Journal of Islamic Finance 10, no. 1 (2021): 46–58. https://doi.org/10.31436/jif.v10i1.561.

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This study investigates the factors determining consumers’ acceptance of takaful (Islamic insurance) in Nigeria. The main objective is to explore the Shariah view, price, service quality, attitude, awareness, subjective norm and perceived behavior control of Nigerian citizens towards the acceptance of takaful services in the country. One of the obstacles currently facing the takaful industry in Nigeria is the lack of awareness about takaful products. To examine the acceptance and awareness of takaful in Nigeria, 209 questionnaires were distributed to respondents in five states, including Lagos

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Gospel, Uruakpa Chiagoziam, Kenneth C. Kama, Odionye Joseph C., and Uzoma Kelechi. "Insurance Penetration and Interest Rate Nexus in Nigeria; an Autoregressive Distributed Lag Approach." International Journal of Research and Innovation in Social Science VII, no. X (2023): 790–800. http://dx.doi.org/10.47772/ijriss.2023.701062.

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This study investigated the effect of interest rate on insurance penetration in Nigeria. Interest rate is a vital monetary instrument that helps in macroeconomic stability through proper mobilization and distribution of capital. It’s adjustment affects both banking industry as well as the non – banking financial institutions such as the insurance industry. For developing countries like Nigeria with social and economic problems, the issue of risk management and insurance services as related to economic stability is relatively determined by the structural arrangement of the insurance sector and

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Akhor, Sadiq Oshoke, Uwadiah John Oroboh, Ajueyitse Martins Otuedon, et al. "The effect of non-audit services on audit quality." Corporate Governance and Organizational Behavior Review 7, no. 4, special issue (2023): 326–33. http://dx.doi.org/10.22495/cgobrv7i4sip10.

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Audit quality (AQ) is value-relevant if the information is capable of making a difference in the decisions taken by various stakeholders. Therefore, the provision of non-audit services (NAS) to clients, and auditors can create economic bonding and self-review threats that compromise independence and AQ (Friedrich & Quick, 2023). The study investigates the effects of NAS on AQ in the Nigerian insurance industry. The ex-post facto research design was adopted and data were sourced from the annual reports of the 22 insurance companies listed on the Nigerian Exchange Group (NGX) between 2015 an

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Ekong, Oluchukwu K., and Sunday S. Akpan. "Liquidity risk and market value of insurance companies in Nigeria." International Journal of Multidisciplinary Research and Growth Evaluation 5, no. 3 (2024): 264–74. http://dx.doi.org/10.54660/.ijmrge.2024.5.3.264-274.

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The study examines the market value effect of liquidity risk of insurance companies in Nigeria. Liquidity risk has caused market value related problems and even insolvencies in the Nigeria insurance industry in the past and it remains a key risk for insurance companies to manage it now and in the future. Twenty seven (27) quoted insurance companies were used in the study. Ex-post facto research design method was also employed while the panel data were sourced from the Securities and Exchange Commission (SEC) Statistical Bulletin, Nigerian Stock Exchange (NSE) and Audited Annual Financial Repor

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Chikekezi, Obinna. "Digital Marketing of Insurance in Nigeria: Challenges and Issues." Caleb Journal of Social and Management Sciences 8, no. 2 (2025): 98–111. https://doi.org/10.5281/zenodo.14736150.

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The marketing of insurance products has also gone digital that is some companies are now selling their products using the online distribution channels. The concept of digitalisation of marketing of insurance in Nigeria is still in its infancy. This study aims at examining the effect of digitalisation on the distribution of insurance products in the country. A simple survey method was used in collecting data from the randomly selected respondents in six out of the 57 insurance companies in the market. A total of 240 copies of questionnaires were administered to staff of the marketing department

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Akinpelu, Ibrahim Lanre, Akanmu Ramon Opeyemi, and Ohanwadi O. Alex. "PSYCHOSOCIAL DETERMINANTS OF EMPLOYEES’ PERFORMANCE AMONG INSURANCE WORKERS." Journal of South African Democratic Teachers Union (JSADTU) 4, no. 1 (2025): 35–43. https://doi.org/10.63091/2790-5004/2025/v4i1a4.

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Job insecurity is a significant psychosocial factor that can influence employee performance, particularly in industries where uncertainty about employment stability is prevalent. This study explores the impact of job insecurity and selected demographic factors on employee performance within the Nigerian insurance industry. It specifically examines how job insecurity, age, marital status, work experience, and educational qualifications interact to affect task and contextual performance. A cross-sectional research design was used, with a sample of 150 employees from various insurance companies i

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Onipe, Adabenege Yahaya, and Alkasim Aminu. "Market valuation measures and the share price of listed insurance firms in Nigeria." Nigerian Journal of Accounting and Finance 12, no. 2 (2022): 92–108. https://doi.org/10.5281/zenodo.6814436.

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Firm’s share price is well known to be highly volatile due to its asymmetric nature. Yet, very few studies have examined the factors that cause this volatility. This study, therefore, examines the effects of market valuation measures on share price of 28 listed insurance firms in Nigeria using a 10-year data set (2010-2019). Data set was extracted from the Nigerian Stock Exchange website and analyzed with the aid of mean, standard deviation, minimum, maximum mean, correlation and regression. Analytical checks (normality, multicollinearity, heteroskedasticity, panel effect) were conducted

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Chukwudum, Q. C., and M. Ekanem. "REINSURANCE WITH R: PRICING, RESERVING, SOLVENCY AND PORTFOLIO ANALYSIS." Open Journal of Management Science (ISSN: 2734-2107) 3, no. 2 (2022): 1–20. http://dx.doi.org/10.52417/ojms.v3i2.392.

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The lack of education and training has been highlighted as one of the highest factors stifling the growth of the re/insurance industry in Africa. Although reinsurance is offered as a course in the insurance/actuarial undergraduate and postgraduate study programs, many higher institutions of learning in Nigeria lack the sufficient mathematical and technical faculty expertise required to thoroughly deliver the reinsurance subject matter particularly at the masters and doctorate levels. As a result of the general absence of the required expertise in the re/insurance field of study, only a couple

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Alabi, Abdulkadri, Mubaraq Sanni, and Mustapha Abdulrasaq. "THE ROLE OF AUDIT COMMITTEE EFFECTIVENESS IN ENHANCING TIMELINESS OF CORPORATE FINANCIAL REPORTING IN THE NIGERIAN INSURANCE INDUSTRY." Accounting Profession Journal 4, no. 2 (2022): 33–48. http://dx.doi.org/10.35593/apaji.v4i2.42.

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This study investigated the impact of audit committee effectiveness on financial reporting timeliness in the Nigerian insurance industry. The study employed secondary data for the years 2012 - 2020. Hypotheses were tested using the Ordinary Least Square (OLS) method. The results revealed a significant relationship between timely financial reporting and audit committee size, expertise, and diligence. There was a negative but insignificant association between audit committee independence and financial reporting. The study concluded and recommended that audit committee effectiveness affects finan

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Olajide Solomon Fadun, Olajide Solomon Fadun. "Insurance, A Risk Transfer Mechanism: An Examination Of The Nigerian Banking Industry." IOSR Journal of Business and Management 7, no. 4 (2013): 93–101. http://dx.doi.org/10.9790/487x-07493101.

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