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ABSTRACT
This study investigates the impact of climate change on the performance of insurance firms in Nigeria applying the panel ordinary least squares (PLS) technique using panel data from 2010 to 2021. Return on asset (ROA) is the dependent variable and proxy for performance while precipitation (PRC) temperature (TEMP), humidity (HUM) and carbon emission (CO2 were proxies for climate change. A major finding is that there is a significant negative relationship between humidity and insurance firms’ performance while precipitation, temperature and carbon emission have no significant effect on insurance firm performance in Nigeria. The study recommends that Nigerian government should evolve and implement policies to reduce humidity in order to reverse its negative influence on insurance firm’s performance. Also, managers of insurance firms should upgrade their policies available to the insured in order to take up the risk being posed by climate change.
