THE IMPACT OF GLOBALIZATION OF FINANCIAL SERVICE ON THE DEVELOPMENT OF NIGERIAN INSURANCE INDUSTRY (A STUDY OF IGI)
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ABSTRACT
The study sought to investigate the impact if globalization of financial services on the development of Nigerian Insurance industry (A study of IGI). Globalization refers to the process of the intensification of economic, political, social and cultural relations across boundaries, and it is principally aimed at the homogenization of political and socioeconomic across boundaries. Industrial general insurance company Enugu was used as a case study. The objective of the research were to ascertain why Nigeria insurance industry has not been participating in the international insurance market, and to identify the needs facilities to be used to enhances globalization in Nigeria. The methodology used in obtaining data was a structural questionnaire and its validity of hypothesis was tested using the chi-square statistical model. Data were sourced both through primary and secondary data collection. Approximating scaling statistical model was used in the analysis of response from the respondents. It was discovered from the research work that a lot of problems are facing globalization of financial service on the development of Nigerian insurance Industry in Enugu and recommends that government should help to provide due facilities that will enhance Nigeria Insurance Industry in participating in the international Insurance market.
CHAPTER ONE
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