THE INVESTMENT OF INSURANCE COMPANY FUNDS: A CASE STUDY OF LEADWAY ASSURANCE COMPANY LIMITED
By
Author
Presented To
Department of Administration
ABSTRACT
PLEASE NOTE:
This project is in respect of the Investment of Insurance company funds - A case study of Leadway Assurance Company Ltd was used to elucidate the importance and the reasons why an Insurance company should invest their accumulated funds for their growth and the subsequent economic development in the country.
The operations of Insurance companies could be dated as far back as 18th Century when the first marine policy was issued in Britain. However, the first Insurance company in Nigeria Royal Exchange Assurance commenced its operation in the 1920s, and since then, many Insurance companies have sprung up in the country. The operations of these Insurance companies inevitably lead to the accumulation of funds over the above capital subscribed by
shareholders- As a result of the nature of Insurance company's operation in which premiums
are collected from many people (Insureds) to which is accumulated into a fund for the compensation of few which may or may not involve in an accident in the future; there is a
need therefore for the Investment of this excess fund to provide profit for the company for the
benefit of the owner of the company like shareholders, employers and employees and the
government which may consequently result in the growth of the country's economy. Various contributions by many authors on theoretical aspects of Investment of Insurance
companies funds were considered. The problems and controls of government toward the investment of Insurance company's funds, Government control on the choice of Investment
and how the fund of an Insurance company has to be invested with their handicaps were
critically examined The study has a useful purposes especially at this period when the country is facing a lot of economic problem caused as a result of low production, currency
devaluation and dependence on foreign goods, it will therefore examine the general pattern
of insurance investment, the role they can perform to resuscitate our economy with a view to offering the tremendous role of the Insurance company in the capital market and to improve
their already battered image.
Careful selection of methods were used in collecting necessary data through interview, observation and secondary data of Leadway Assurance Co. Ltd. on how they invest their
funds, and contributions of Investment towards the growth of the company. Tables were drawn, comparison of 5 yrs 1990 - 94 were analysed, with the problems being faced by the
Insurance Industry in general and the company in particular. Limitations and short coming of the methods used were duly noted.
It will be useful as a reference material for Government ministries, Insurance Industry and of course for Researchers on similar project.
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