CORPORATE GOVERNANCE AND INSURANCE PERFORMANCE IN NIGERIA

ABSTRACT

The study examined the effect of corporate governance on the overall performance of 6 listed insurance firms in Nigeria for the period 2015 to 2021. Four corporate governance factors (board size (BDS), board independence (BIND), board gender diversity (BGDIV), managerial ownership MOWN) were regressed against dependent variable (firm’s performance) using the panel least square method. The outcome of the findings revealed that board size (BDS) has significant positive relationship with insurance firms’ performance (INPERF) in Nigeria; board independence (BIND) and managerial ownership (MOWN) has a significant inverse effect on insurance firms’ performance; while board gender diversity (BGDIV) has an insignificant positive relationship with insurance firms’ performance. The study recommends that, management needs to either sustain current policy on the composition of the membership of board of directors or strengthen it to ensure that appropriate numbers/the right number of persons that should make up the board membership are implemented, and by so doing it will continue to have the needed positive impact on overall firms’ performance.