Impact of corporate governance on the growth of insurance sector in Nigeria Department:Insurance and Actuarial Science By: elderpeter Project ID: 7693 Rating: (5.0) votes: 1 Price:₦3000 Get the Complete MaterialAbstractThis paper examined corporate governance and Nigeria's insurance industry. Agency theory suggests that better corporate governance reduces expropriation costs, which in turn enhances investors’ confidence in the firm’s future cash flow and growth prospects, leading to higher firm valuation. Likewise, a decrease in private benefits is likely to cause an improved operating performance. The study employed secondary data from the Mutual Benefits, FBN Life, and Zenith Life Insurance Annual Financial Reports from 2005 to 2015, sourced from NAICOM Publication 2011-2015. The hypotheses were tested using multiple regressions to establish the relationship between corporate governance (proxied by board size, leverage and Audit Committee) and Nigerian Insurance Industry (Proxied by Profit Before Tax). Findings established that Board Size and Audit Committee have a significant impact on the profit before tax of insurance companies in Nigeria, while leverage does not have a significant impact on the profit before tax of insurance companies in Nigeria. The study therefore recommends that the Nigerian Insurance Industry through the respective authorities should properly define corporate governance and its mechanisms and implement them effectively to reach the firm’s long-term goals, build stakeholders’ confidence and generate positive investment flows....Preview Download Preview +Other Insurance and Actuarial Science project topics and materials you might be interested in»An appraisal of the role of national insurance commission (NAICOM) in the management of insurance companies»Factors militating against marketing of insurance services in the rural areas and the way forward - a case study of Ikole local government, Ekiti state»National health insurance scheme as a viable tool in improving Nigeria health care system (a case study of Lamodi comprehensive health centre Offa, Kwara state)»Examining the synergistic influence of financial inclusion and internet accessibility on insurance reach in Nigeria»Impact of corporate governance on the growth of insurance sector in Nigeria