ABSTRACT
This study examines the impact of foreign direct investment (FDI), foreign portfolio investment (FPI), foreign aid (FA), and foreign remittances (REM) on the financial growth of companies in the Insurance sector, Nigeria, as measured by total insurance premium income (PI). Using quantitative methods, the research analyzes the relationship between these independent variables and the dependent variable, Premium Income(PI).
The results indicate that FDI and REM have statistically significant positive effects on PI, while the impact of FPI and FA is not significant. The findings suggest that encouraging greater foreign investment, particularly through Foreign Direct Investment and Foreign Remittances, could be an effective strategy for promoting the financial growth of insurance companies in Nigeria.
The study provides recommendations for policymakers and industry players to create a more favorable environment for foreign investment, which could lead to increased Premium Income and overall growth in the Insurance sector. The analysis also highlights the need for addressing political instability and regulatory issues to ensure sustainable growth in the sector.
