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ABSTRACT
The study empirically investigates the relationship between claim settlement, investment rate and the performance of listed insurance firms in Nigeria for a period of 22 years (2001 to 2022). The specific objectives were to find out whether claim settlement, insurance investment rate, insurance premium and insurance penetration significantly affect the performance of listed insurance firms in Nigeria. The Augmented Decay Fuller test was used to carry out the unit root test in order to ascertain the stationarity state of the variables used in the study. The fully modified least square (FMOLS) econometric technique was used in the analysis. The empirical results generally reveal that claim settlement has a weak negative impact on the performance of listed insurance firms in Nigeria. Insurance investment rate (INVR), and insurance premium (PREM) has significant positive relationship with the performance of listed insurance firms; while insurance penetration (PEN) was found to have significant negative impact on the performance of listed insurance firms in Nigeria. The study recommends that, respective management of the Nigerian insurance firms should effectively manage accruing revenue from premiums paid by clients in order to effectively improved and enhanced the overall performance of listed insurance firms in Nigeria on continuous basis.
