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Developments In The Insurance Industry In Nigeria In 1999, Central Bank Of Nigeria Cbn
Developments In The Insurance Industry In Nigeria In 1999, Central Bank Of Nigeria Cbn
Economic and Financial Review
This report indicates that the size of Nigeria s insurance industry shrank in 1999, according to a survey conducted by CBN. The development was sequel to the exit of some insurance companies that could not fulfil the recapitalisation requirement by the National Insurance Commission (NA/COM). However, paid-up capital in the industry increased by 7.1 per cent in 1999, owing to the additional equity capital injected into the joint-venture insurance companies. Aggregate income and expenditure in the industry increased, although expenditure grew faster during the year under review. The investments of the insurance companies declined by 11.2 per cent from its …
Developments In The Insurance Industry In Nigeria In 1991, Central Bank Of Nigeria Cbn
Developments In The Insurance Industry In Nigeria In 1991, Central Bank Of Nigeria Cbn
Economic and Financial Review
Nigeria's insurance Industry expanded marginally In 1991. While some companies In the Industry diversified their activities from wholly life lo joint life and non-life, the number of companies formerly In the life business remained unchanged. Amidst general price increases, the aggregate industry Income rose although expenditures increased foster.
Developments In The Insurance Industry In Nigeria In 1990, Central Bank Of Nigeria Cbn
Developments In The Insurance Industry In Nigeria In 1990, Central Bank Of Nigeria Cbn
Economic and Financial Review
While the number of insurance companies operating in the Nigerian economy increased in 1990, both income and expenditure of the companies rose during the same period. The report revealed that the growth rate of income in the industry exceeded the expenditure rate, as the income to expenditure ratio rose from 1.59 to 1.81 between 1989 and 1990.
Nigeria's Insurance Industry In 1989, Central Bank Of Nigeria Cbn
Nigeria's Insurance Industry In 1989, Central Bank Of Nigeria Cbn
Economic and Financial Review
The growth in the number of insurance companies in Nigeria between 1988 and 1989 revealed the preference of the investors in the industry towards non-life underwriting business. In addition, only one out of the six new entrants into the industry was jointly owned. The unattractiveness of the industry to foreign investors was partly due to the perceived decreasing prosperity in the business as well as the unfavourable investment climate of the Nigerian economy. With many of the insurance companies now scheduled to be privatised, greater efficiency is expected in their operations, particularly among those previously controlled by the government. In …
Nigeria's Insurance Industry In 1985, Central Bank Of Nigeria Cbn
Nigeria's Insurance Industry In 1985, Central Bank Of Nigeria Cbn
Economic and Financial Review
This report describes the activities of insurance companies operating in Nigeria in 1985. Among the topics covered are the number and type, ownership structure, income and expenditure and the relative performance of the insurance companies. Their sources and application of funds, loss and expense ratios are also discussed by class of insurance. The report, which ends with a discussion of the assets -of the insurance companies, observes that operating costs rose in the companies during the review period, and traces the source of the increased costs to higher costs in the life insurance companies run by indigenous insurers.