EFFECTS OF RISK MANAGEMENT PRACTICES ON THE PERFORMANCE OF INSURANCE COMPANIES IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
Risk if not well managed could lead to collapse for most organisations especially those whose core business deals with day to day handling of risk. Risk management should, therefore, be at the core of an organization’s operations by integrating risk management practices into processes, systems and culture of the entire organization. This involves identifying and analysing risks, developing and implementing risk handling techniques and monitoring the progress of these in order to avoid and/or reduce the impact of risk on the financial performance of the firm. The objective of the study was to establish the effect of risk management practices adopted by Nigerian insurance companies on the financial performance of these companies. The study used both primary and secondary data. Primary data was collected through questionnaires eliciting response from the selected respondents. Secondary data was collected by use of desk search techniques from published reports as well as data from financial statements maintained by the organizations. The results were presented using tables and charts. The study established that a majority of insurance companies in Nigeria had adopted risk management practices in their operations and that this had a strong effect on their financial performance. Risk identification was found to be the most significant in influencing financial performance, followed by risk mitigation, risk management program implementation & monitoring and risk assessment & measurement respectively. This study concludes that there is a positive relationship between the adoption of risk management practices and the financial performance of insurance companies in Nigeria.
Related Project Materials
PROTECTION OF THE RIGHTS OF INDIVIDUALS IN ARMED CONFLICT SITUATION
ABSTRACT
The fundamental target of both Islamic law of war and international Humanitarian law is to protect the Rights and Persons of bot...
THE CONTRIBUTION OF SECRETARIES TOWARDS THE ACHIEVEMENT OF ORGANIZATIONAL GOALS
ABSTRACT
This study investigated the contributions of secretaries towards the National Economic Development with referen...
THE IMPACT OF CULTURAL DIFFERENCES ON FIDUCIARY ACCOUNTING PRACTICES
THE IMPACT OF CULTURAL DIFFERENCES ON FIDUCIARY ACCOUNTING PRACTICES
Abstract: Cultural differences significantly influence fiduciary acc...
STUDIES ON YERSINIOSIS IN HUMAN AND SELECTED ANIMAL POPULATIONS IN JOS AND ITS ENVIRONS
ABSTRACT
Yersinia enterocolitica and Yersinia pseudotuberculosis are important food and water borne pathogens that has recently emerged w...
INFLUENCE OF SUPERVISION ON PROVISION AND MANAGEMENT OF RESOURCES IN SECONDARY SCHOOLS IN KANO METROPOLIS, KANO STATE, NIGERIA
ABSTRACT
This study is on “Influence of Supervision on Provision and Management of Resources in Secondary Schools in Kano Metropoli...
PHARMACOGNOSTIC AND ANTIDIARRHOEA ACTIVITY OF LEAVES OF BAUHINIA RUFESCENS LAM (CAESALPINIOIDEAE)
ABSTRACT
Bauhinia rufescens Lam (Caesalpinioidae) is a scandent shrub or small tree measuring between 1-3m high but sometimes up to 8m hi...
MANAGEMENT AND USE OF LEGAL DEPOSIT MATERIALS BY LIBRARIES FOR EFFECTIVE USER SUPPORT IN THE NATIONAL LIBRARY OF NIGERIA
Background Of The Study
Different libraries exist for different purposes. These purposes include functi...
ASSESSING THE EFFECTIVENESS OF SOCIAL MEDIA ENTREPRENEURSHIP IN OUR CONTEMPORARY BUSINESS SOCIETY
Abstract
The study examines the impact of social media on entrepreneurship development among users in Z...
ONLINE MARKETING INFORMATION MANAGEMENT SYSTEM; DESIGN AND IMPLEMENTATION
Background of the Study
The Internet sprang from the cold war and technical rivalry between the USSR and the US. "W...
DESIGN AND IMPLEMENTATION OF AN ONLINE HOTEL RESERVATION SYSTEM WITH PAYMENT INTEGRATION (A CASE STUDY OF LE-MERIDIAN HOTEL)
ABSTRACT
This study aims to develop and design an Online Hotel reservation and management system for Le-Mer...
