Firm Specific Factors and Performance of Insurance Firms in Nigeria
February 25, 2022
The insurance is a key sector of any economy and is an integral part of the financial system responsible for managing both individual and institutional risks. Insurance companies serve as the cornerstone of risk management in any country; they guarantee financial safety, serve as a vital constituent in the chain of financial intermediation, and create an avenue for long term funds for infrastructural projects (Augustine & Nwanneka, 2011). In the same vein, an important role is being played by insurance business by helping in bearing risk, helping in creating employment, and acting as source of tax revenue to the government, creating an avenue for investors and financial investment services like bonds and stocks (Hamadu & Mojekwu, 2010). Hence, it is necessary to make sure that insurance companies in Nigeria perform remarkably and productively.
