DANSU SEWHENU FRANCIS

Insurance

At the Insurance department office

Appointment on Visitation important

Topic: Fear Of Risk And Entrepreneurial Success: A Study Of SMEs Owners In Lagos State

Description: Small and Medium-sized Enterprises SMEs play a vital role in economic development. However, despite the significance of risk-taking and risk management in defining the success of entrepreneurs, most of them are risk averse. Hence the need to explore the relationship between fear of risk and entrepreneurial success among SMEs owners. The objective of the study is to examine the effect of the fear of risk on entrepreneurial success by identifying the types of risks that SMEs owners fear most and also to investigate the strategies used by SMEs owners to manage risk.The study will employ a quantitative research approach, using surveys or questionnaires to collect data from SMEs owners. The study aims to provide insights into the relationship between fear of risk and entrepreneurial success, highlighting the strategies used by successful entrepreneurs to manage risk. The findings of this study will contribute to the understanding of risk management in entrepreneurship, providing valuable insights for SMEs owners, policymakers, and entrepreneurship educators. It also will contribute to the existing literature on entrepreneurship and risk management, offering practical implications for SMEs owners and policymakers.

#	Certificate	School	Year
1.	Ph.D (Risk Management and Insurance)	Department of Actuarial Science and Insurance, University of Lagos, Akoka, Lagos, Nigeria.	2018

Actuarial Risk Management Practices and Solvency Margin among Selected Life Insurance Companies in Nigeria

The study investigated the extent to which actuarial risk management influenced solvency margin among selected Life Insurance firms in Nigeria. The study employed ex post facto research design. The population of the study comprises of twenty five (25) life insurance companies in Nigeria. With the consideration of market share, a sample size of ten (10) was considered for the study. The first finding of the study showed that liability coverage ratio and reserve coverage ratio individually have a negative but not statistically significant impact (β = -0.060935 and -1.516354, p = 0.0829 and 0.1640 respectively > 0.05) on the solvency margin among Life Insurance companies in Nigeria. The second finding of the study clearly showed that actuarial risk management has positive and significant impact on solvency margin among selected Life insurance companies in Nigeria.  It was concluded that actuarial risk management is one of the most fundamental and most crucial aspect of risk management that should be ingrained into the operations of Life insurance firms in order to optimally manage their exposure and based on the result of this study, actuarial risk management will only help achieve its goal of loss exposure reduction and mitigation when appropriate liability coverage and reserve setting is given conscientious efforts together with efforts that help reduce loss ratio. It was therefore recommended that actuarial reserves should be properly estimated with the utilization of sufficient past data that helps study trends.

DANSU FRANCIS is a Senior Lecturer at the Department of Insurance

DANSU has a Ph.D in Risk Management and Insurance from Department of Actuarial Science and Insurance, University of Lagos, Akoka, Lagos, Nigeria.