You have no items in your shopping cart.
ABSTRACT
The study examined the determinants of insurance firms’ financial performance in Nigeria for the period 2001 to 2022. The objectives of the study were to find out whether insurance penetration (INPEN), insurance leverage (LEV), insurance premium (INPRM) and firm size, (FSIZE) significantly determined the level of insurance firms’ financial performance in Nigeria. To ascertain this, the study employed the fully modified least square (FMOS) method in the analysis of data, and the results obtained revealed that insurance penetration (INPEN) has a significant inverse relationship with insurance firms’ financial performance; insurance leverage (LEV) has a weak negative impact on financial performance; insurance premium (INPRM) and firm size, (FSIZE) has significant positive impact on financial performance of insurance firms in Nigeria. The study recommends that, since insurance penetration rate has proven to be a veritable factor for improving overall financial performance, managers should up their current level of crusade by increasing the current enlightenments campaign programs to deliberately create more awareness of insurance products and services to the Nigerian markets, and by so doing more persons will definitely embrace the idea of taking insurance policy.
