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ABSTRACT
The study empirically examines the relationship between insurance investment and capital market performance in Nigeria for the period 1985 to 2023 (38 years). The specific objectives of the study were to ascertain if insurance investment in bond, insurance investment in total assets, insurance investment in equity, and insurance investment in derivative affect capital market performance in Nigeria. To this end, Ordinary Least Square regression techniques were employed in the analysis of data, and the results obtained indicated that the relationship between insurance investment in bond and insurance investment in total assets and capital market performance is positive and statistically significant, while insurance investment in equity and insurance investment in derivative and capital market performance is negative and statistically significant. The study recommended that future studies should integrate other such as corporate governance mechanisms, board of directors characteristics, audit committee characteristics, risk committee characteristics, executive committee characteristics, compensation committee and others that have an important association with capital market performance and will help to enhance it. Also the study recommended future studies to test capital market performances through different perspective like accounting and marketing measurements because the integration between short term and long term that may help to maximize wealth of companies and invariably growth of the capital market.
