Nigerian Journal of Risk and Insurance

The Influence of Effective Stress Management on the Performance of Nurses in Subol Hospital

Thu, 20 Mar 2025 03:28:17 +0000

The extent of performance in the workplace may be negatively affected by stress due to a lack of effective management. The decline in work performance may appear to be a great threat or even death of patients in the hospitals. It is important that effective management of stress among nurses in Nigeria is paramount in hospital administration and management to ensure effective healthcare delivery. The main aim of this study is to investigate the influence of effective stress management on the performance of nurses in hospitals in Lagos State Nigeria. This study adopted a cross-sectional research design. The study is based on the observation that takes place within different groups at one time while the appropriate research strategy adopted is survey strategy. The major findings from this study revealed that the effectiveness of stress management techniques has a strong and significant impact on nurses’ performance. This study therefore concluded that the lack of effective stress management techniques in hospitals accounts for the decline in productivity, performance, and commitment among nurses in Lagos Hospitals.

A Comparative Analysis of the Efficiency of Takaful and Conventional Insurance in Nigeria: A Data Envelopment Analysis Approach

Oluwayemi Emmanuel JEJE, Bankole ABIOLA, Godson MESIKE — Thu, 20 Mar 2025 03:41:36 +0000

The insurance industry is vital to the development of any nation's economy. To evaluate the performance of this industry, efficiency measurement is critical as it will determine the industry’s competitiveness, and companies that are likely to survive. As such, this study aims to compare takaful and conventional insurance efficiency in Nigeria. This study uses the Data Envelopment Analysis (DEA) method with input orientation to measure efficiency. The objects in this study were six (6) conventional insurance firms and two (2) takaful firms spanning from 2017 to 2021. The results showed that takaful insurance emerged on the efficient frontier in all years except 2019 and was more efficient in these years than the conventional counterpart. It concludes that regarding efficiency neither takaful nor conventional insurance firms clearly outperform the other. This study revealed the efficiency level and compared the efficiency of takaful and conventional insurance firms in Nigeria.

Risk Retention Strategy and Financial Performance of Selected Insurance Companies in Nigeria

Aishat Oladunni USMAN, Olajide Solomon FADUN, Sunday Adekunle ADULOJU — Thu, 20 Mar 2025 09:00:08 +0000

Insurers manage their risk exposures to maximise profit, improve their underwriting performance and maximise return on assets and shareholders’ funds by retaining a certain proportion of accepted risks. This study used a panel data analysis to examine the relationship between risk retention as a risk financing strategy and the profitability of life insurance firms. This study aims to determine the relationship between the Risk Retention Ratio and the profitability of life insurance companies in Nigeria. An ex-post facto research design was adopted, and cross-sectional data was obtained from eight life insurance companies. Descriptive analysis and inferential statistics were used to test the suitability of the data for the study. Data are further subjected to the fixed effect and random effect regressions. Hausman test was conducted, and the null hypothesis of a random effect model was rejected. The results revealed that the Risk Retention Ratio has a highly positive but insignificant impact on profitability. This implies that factors other than the risk financing strategy adopted by life insurers in Nigeria impact profitability. It is recommended that life insurers should increase the uptake of life insurance and reduce operating expenses. The government should enforce relevant laws on the purchase of life insurance to increase the income generated by insurers and, by extension, their profitability.

Risk Based Supervision and Financial Performance of Insurance Companies in Nigeria

E. H. Iroh, B. Orobator — Thu, 20 Mar 2025 09:09:59 +0000

This study empirically examined the effect of risk-based strategy on the performance of listed insurance companies in Nigeria. Panel data of twenty-two (22) insurance companies spanning 2012 to 2022 were collected from the audited annual publication of each company as published by the Nigerian Exchange Limited (NEL). Several statistical and econometric techniques of descriptive statistics, correlation analysis and the panel regression of fixed and random effects methodology within static panel were adopted. Findings revealed some variables considered conform to A priori expectation in the FE model. Risk management (RMGT), Risk-based strategy (RBS) and firm size (FSIZE) have a significant positive effect on ROA. However, only the effect of firm age (FAGE) and risk-based capacity (RBC) was negative and not significant at 5 % level. From the foregoing analysis, the study concludes that risk-based strategy and risk management are significant determinants of insurance firm performance in Nigeria.

Contributory Pension Fund and the Growth of Nigeria's Insurance Industry

Olajide Solomon FADUN, Akeem Bamidele AGBOOLA — Thu, 20 Mar 2025 09:21:08 +0000

Pension funds perform crucial roles in the various sectors of the economy, including the insurance industry, where they serve as a source of premium income. Thus, the effect of the contributory pension fund on the insurance industry's growth was investigated in this study. Twelve years (2010-2021) data was extracted from PenCom and NAICOM annual reports. The regression analysis’s findings showed that pension fund contribution and annuity premiums significantly impact the gross premium income of Nigeria's insurance industry. Though the findings of this study show that the Nigeria Insurance Industry has grown because of the contributory pension fund, economic experts believe that the contributory pension scheme has yet to maximise its capacity to stimulate the insurance industry's growth. The study recommends that the National Pension Commission (PenCom) and insurance companies educate people on the benefits of choosing the life annuity option for retirement benefits.