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This study examined risk and financial performance of listed insurance firms in Nigeria for the period of ten years from 2011-2020. The population of the study consists of 22 insurance firms listed on the floor of Nigerian Stock Exchange as at 31st December. Secondary data was extracted from the audited financial reports of the sampled insurance firms. The data was analyzed using the multiple regression model. The study findings revealed that underwriting risk is positively and significantly influencing the financial performance of listed insurance firms in Nigeria. Conversely, reinsurance risk revealed a statistical negative and insignificantly impact on financial performance. The study concluded that underwriting risk has a strong association with the financial performance of the firms for the period. The study recommends that the National Insurance Commission (NAICOM) should have recapitalization base policy for Nigerian insurance industries as this will enable he firms to underwrite bigger risk in the sector and help forestall flight.
About the author
Monday Duniya: Department of Accounting, Faculty of Management Sciences,Kaduna State University, Kaduna, Nigeria.Suwaiba Shehu Ibrahim: Department of Business Administration, University of Abuja, FCT. NigeriaDonatus Mercy Gimba: Department of Public Administration, Ahmadu Bello University, Zaria. Nigeria.
