SULAIMON RASHIDAT ABIODUN

Insurance

At the Insurance department office

Appointment on Visitation important

Topic: EFFECT OF RISK MANAGEMENT ON THE FINANCIAL PERFORMANCE OF INSURANCE COMPANIES IN NIGERIA

Description: Risk if not managed well could lead to the collapse of a business entity, especially those whose core business deals with day to day handling of risks. Risk management involves the identification and analysis of risks, the development and implementation of risk, handling techniques and monitoring the progress of the techniques in order to avoid and/or reduce the impact of risk on the financial performance of the firm.The objectives of the study was to find out if insurance companies in Nigeria have a high level of Risk Management implementation and to determine the extent of a lower level Risk Management implementation on the financial performance of insurance companies in Nigeria.Descriptive design was used in this study. The study population was the 49 insurance companies in existence in Nigeria at the time of conducting this research out of which 10 companies transacting life and nonlife insurance business were picked. Primary data was collected through the use of questionnaires and descriptive statistics was used to analyse the data collected.The findings of the research based on the analysis of data was that:1. Risk management has impact on the performance of insurance companies in Nigeria.2. Insurance companies have higher level of Risk management implementation.3. A lower level of risk management implementation has effect on the financial performance of insurance companies in Nigeria.On the basis of the conclusion reached in this study, risk management is an ongoing phenomenon and risk management affects the financial performance of the insurance companies in Nigeria. Therefore an in-depth analysis of risk evaluation in the management structure should be made to discover areas the need urgent attention of the management.

#	Certificate	School	Year
1.	M.Sc (RISK MANAGEMENT AND INSURANCE)	UNIVERSITY OF LAGOS	2019

Analytical Discourse of Green Insurance, Industrial Policy and Its Effect on Economic Sustainability in Nigeria.

The interplay between environmental sustainability, industrial policy, and economic developmenthas gained increasing prominence, particularly in developing nations where climate-related risks are escalating. Nigeria, with its diverse ecosystems and growing economy heavily reliant on oil, faces unique challenges related to environmental degradation and climate change. Environmental issues such as deforestation, pollution, flooding, and desertification have intensified, threatening livelihoods, infrastructure, and economic stability. In response to these environmental vulnerabilities, green insurance has emerged as a potential tool to mitigate climate risks and foster sustainable development. Green insurance, a relatively new concept in Nigeria, is rapidly gaining global traction, integrating environmental objectives with traditional insurance practices to address climate-related risks and induce sustainable practices Grace, 2023 .To achieve the purpose of the study, the following objectives were considered: analyze the current landscape of green insurance in Nigeria, including regulatory, industrial policy and market challenges; examine the potentiality of the relationship between green insurance and the improvement of environmental, social and governance indicators in Nigeria.Methodology: A cross-sectional approach was adopted, integrating descriptive and correlational research designs to explore the relationship between green insurance adoption, industrial policy, and economic sustainability indicators.The expected result showed a significant impact of green insurance on various aspects of sustainability in Nigeria. Industrial policies also proved to be an important instrument pivotal to continued growth and sustainability of the Nigerian economy. The study recommended increased efforts by policymakers to increase awareness and strengthen regulatory frameworks to support green insurance in Nigeria.

SULAIMON ABIODUN is a Assistant Lecturer at the Department of Insurance

SULAIMON has a M.Sc in RISK MANAGEMENT AND INSURANCE from UNIVERSITY OF LAGOS