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ABSTRACT
This study examines risk management in life insurance portfolio in Nigeria. The study adopted the time series data which was used to analysed the research hypotheses. The ada was analyses using Unit Root Test, Co-integration Test, Error Correction Model (ECM), Multicollinearity Test and Heteroscedasticity Test. The result revealed that there is positive significant relationship between claims payment on fire policies and life insurance portfolio in Nigeria, the result also shows that there is positive significant relationship between claims payment on accident policies and life insurance portfolio in Nigeria. The result further shows that there is positive significant relationship between claims payment on motor vehicle policies and life insurance portfolio in Nigeria. The study recommends that there is need for government to design and implement laws to promote effective risk management practices. Effective risk management practices cannot be achieved by the government alone, but through the support of both national and international insurance companies through changes in some practices in the country. Thus, there is need for cooperation and collaboration among insurance companies, commercial and industrial enterprises in order to promote risk management in Nigeria. Management must be enlightened on both the financial and non-financial benefits of risk management practices. Similarly, educational and training institutions have the capacity to contribute to successful implementation of risk management practices through the inculcation of risk management into their curriculum.
