Corporate governance and insurance company growth: Challenges and opportunities
No Thumbnail Available
Date
2013
Authors
Fadun, O. S.
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The paper examines challenges and opportunities associated with corporate governance and insurance company growth. It advocates the imperative of good corporate governance in the insurance industry. The paper describes corporate governance, examines corporate governance theoretical perspectives, highlights the challenges of corporate governance in Nigeria, and explores the relationship which exists between corporate governance and insurance company growth in Nigeria. The study is an empirical design using the responses of survey, structured questionnaires, of 112 respondents. Pearson product coefficient of correlation(r) is employed for data analysis and hypotheses testing. The findings reveal that good corporate governance promotes safe and sound insurance practice; effective supervision promotes good corporate governance; and the new code of good corporate governance for the Nigerian insurance industry enhances insurance companies’ growth in Nigeria. The implication for practice suggests that effective corporate governance is necessary for proper functioning of insurance companies in order to promote growth and secure public confidence. The paper highlights the fact good corporate governance practices can enable the Nigeria insurance industry to generate more resources to create more employment opportunities and support the economy by way of prompt claims settlement.
Description
Scholarly article
Keywords
Citation
Fadun, O. S. (2013). Corporate governance and insurance company growth: Challenges and opportunities. International Journal of Academic Research in Economics and Management Sciences, 2(1), 286-305.