Site Logo E-PROJECTTOPICS

ASSESSMENT OF DETERMINANTS OF INSURANCE COMPANIES' PERFORMANCE IN NIGERIA


📑


Presented To


Administration Department

📄 Pages: 100       🧠 Words: 12404       📚 Chapters: 5 🗂️️ For: PROJECT

👁️‍🗨️️️ Views: 199      

⬇️ Download (Complete Report) Now!

ABSTRACT

Insurance companies in Nigerian have undergone reform in 2004 in order to enhance their performance and to make them stronger players nationally and internationally. Besides, in 2014 available statistics revealed that the performance of insurance companies in Nigeria still remains below average. The statistics further indicated that the companies contribute only 0.3% of overall GDP in 2014 in terms of the value of gross premiums written which was very minimal if compared to 16% of South African insurance contribution to GDP. This among others provides a cause for assessing the determinants of insurance companies' performance in Nigeria. In this view, this study assessed the determinants of insurance companies' performance in Nigeria. This study is descriptive in nature and used both primary and secondary sources of data collection. 
The secondary data for this study were obtained from the annual accounts of the insurance companies for the years 2007 to 2014. This study used Return on Assets, Return on Equity and Earnings per Share as surrogate of performance. In order to achieve the objectives of this study, multiple regression analysis was performed. In an attempt to meet the multiple regression assumptions, robustness tests were also conducted. From the result of test of hypotheses, the ANOVA tables presented the p-values for hypothesis one, two, three and four as p=0.036, p=0.000, p=0.000 and p=0.000 respectively, meaning that there is a statistically significant relationship between the study variables at the 95.0% confidence level since the p-values are less than 5% level of significance. The variables considered most significant are; equity (β=10.23), gross written premium (β=4.91), liquidity (β=0.26), leverage (β=0.04), company's age (β=0.02), solvency (β= -0.89) and assets tangibility (β= -24.03). In the case of variables used to test the hypothesis four and rated according to their contributions are; economic factors (β=0.53), technological factors (β=0.29) and environmental factors (β=0.11). From the findings of the study, equity capital make the strongest contribution which contradicted the general opinion that Gross written premium was the major determinant of insurance companies' performance in Nigeria. It is therefore, recommended that stakeholders in the Nigerian insurance industry in collaboration with their regulatory body; National Insurance Commission should consider further consolidation in the Nigerian insurance industry. This will help their retention capacities to underwrite big businesses and also to deepen insurance across the country. 
The negative contribution of asset tangibility to the performance of insurance companies in Nigeria validated the fact that insurance companies do not require large volume of fixed assets. What they need is to make sure that they have available funds in the event of loss suffered by anyone under their insurance policy. This will increase the number of insurance policy holders and at the same time will enhance the performance of insurance companies in Nigeria. By doing this, the contribution of the companies to the GDP will increases and continues to grow.

PLEASE NOTE

This material is a comprehensive and well-written project, structured into Chapter (1 to 5) for clarity and depth.


To access the full material click the download button below


OR


Contact our support team via Call/WhatsApp: 09019904113 for further inquiries.

Thank you for choosing us!

📄 Pages: 100       🧠 Words: 12404       📚 Chapters: 5 🗂️️ For: PROJECT

👁️‍🗨️️️ Views: 199      

⬇️ Download (Complete Report) Now!

🔗 Related Topics

DETERMINANTS OF BOOK-KEEPING PRACTICES OF SELECTED SMALL AND MEDIUM ENTERPRISES Fraud and other financial malpractices in the Nigerian banking system: a study of selected banks in Nigeria CUSTOMERS ‟KNOWLEDGE OF ISLAMIC BANKING PRODUCTS AND JAIZ BANK PATRONAGE IN NORTHERN NIGERIA MODERATING ROLE OF ORGANIZATIONAL AFFECTIVE COMMITMENT ON THE RELATIONSHIP BETWEEN SELF EFFICACY, TRAINING AND PERFORMANCE OF TEACHERS IN PUBLIC SECONDARY SCHOOLS IN BAUCHI MEROPOLIS CURRENCY DEVALUATION ANNOUNCEMENT AND SHARE PRICES OF DEPOSIT MONEY BANKS IN NIGERIA PROBLEMS OF RESEARCH IN THE NIGERIAN UNIVERSITIES: A CASE STUDY OF AHMADU BELLO UNIVERSITY CORPORATE GOVERNANCE MECHANISMS AND EARNINGS QUALITY OF LISTED MANUFACTURING COMPANIES IN NIGERIA FIRM SPECIFIC CHARACTERISTICS AND FINANCIAL PERFORMANCE OF LISTED INSURANCE FIRMS IN NIGERIA ASSESSMENT OF THE GLOBAL SYSTEM MOBILE (GSM) SERVICE PROVIDERS PERFORMANCE AND CUSTOMER SATISFACTION IN NORTH-WEST, NIGERIA IMPACT OF MOBILE COMMERCE SERVICES ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN NIGERIA EFFECTS OF FIELD-BASED TEACHING STRATEGY ON INTEREST, RETENTION AND PERFORMANCE IN CLIMATE CHANGE AMONG SECONDARY SCHOOL STUDENTS FIRM SPECIFIC CHARACTERISTICS AND DIVIDEND PAYOUT RATIO OF QUOTED CONGLOMERATES IN NIGERIA ASSESSMENT OF THE ROLE OF NATIONAL ASSEMBLY OVERSIGHT FUNCTIONS ON CORRUPTION IN THE NIGERIAN FEDERAL PUBLIC SERVICE (2007 - 2013) The Effect of Firms Characteristics on Real Earnings Management in the Listed Industrial Goods Firms in Nigeria THE IMPACT OF OIL REVENUE ON NIGERIAN ECONOMY IMPACT OF RURAL SAVINGS ON ECONOMIC EMPOWERMENT IN NIGERIA PERFORMANCE EVALUATION IN A DECENTRALIZED ORGANIZATION IMPACT OF INSTITUTIONAL FINANCING ON THE PERFORMANCE OF SMALL-SCALE MANUFACTURING INDUSTRIES COMPARATIVE VALUE RELEVANCE OF ACCOUNTING INFORMATION FOR CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS IN LISTED FINANCIAL SERVICE FIRMS IN NIGERIA IMPACT ASSESSMENT OF DISCIPLINARY MEASURES ON STAFF PERFORMANCE

click on whatsapp