INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022)
The study looked at the influence of non-life insurance sector claims settlement on the increase of total assets in Nigeria's insurance market from 2000 to 2022. The data set utilized for this research is secondary data, consisting of 22 years' yearly series of chosen variables from 2000...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Federal University Wukari
2024-07-01
|
| Series: | International Studies Journal |
| Subjects: | |
| Online Access: | https://wissjournals.com.ng/index.php/wiss/article/view/402 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1823860862532714496 |
|---|---|
| author | SOLOMON DAVID PERE JOSIAH BOLOU-OWEI EDIKE |
| author_facet | SOLOMON DAVID PERE JOSIAH BOLOU-OWEI EDIKE |
| author_sort | SOLOMON DAVID PERE |
| collection | DOAJ |
| description |
The study looked at the influence of non-life insurance sector claims settlement on the increase of total assets in Nigeria's insurance market from 2000 to 2022. The data set utilized for this research is secondary data, consisting of 22 years' yearly series of chosen variables from 2000 to 2022, obtained from the Central Bank of Nigeria (CBN) and the NAICOM statistics bulletin. The study used the Philip-Perron (PP) unit root test and the Ordinary least squares (multiple regressions) method with the E-view package to calculate the coefficient of the independent variable, non-life insurance claims settlement, on the total assets of the insurance industry as dependent variables. The hypothesis demonstrates that if each index for non-life insurance claims settlement is held constant, total insurance assets growth in Nigeria will increase by an intercept value of 0.0000246 basis points. Additionally, it is seen that non-life insurance claims settlement has a regression coefficient of 0.010995, which is a positive coefficient. The Adjusted Co-efficient of Determination, which was 0.050918, shows that in the model used, the independent variable. The p-value of non-life insurance claims settlement impacting total insurance asset growth in Nigeria is 0.8621, which above the level of significance of 0.05. It indicated that there was statistical insignificance. According to the study's results, non-life insurance sector claims settlement has no substantial influence on the insurance industry's overall asset growth rate.
|
| format | Article |
| id | doaj-art-77d26a466603422db84bfc4cf5f34507 |
| institution | Kabale University |
| issn | 2756-4649 |
| language | English |
| publishDate | 2024-07-01 |
| publisher | Federal University Wukari |
| record_format | Article |
| series | International Studies Journal |
| spelling | doaj-art-77d26a466603422db84bfc4cf5f345072025-02-10T10:00:12ZengFederal University WukariInternational Studies Journal2756-46492024-07-0184INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022)SOLOMON DAVID PERE0JOSIAH BOLOU-OWEI EDIKE1NIGER DELTA UNIVERSITY, WILBERFORCE ISLAND, BAYELSA STATENIGER DELTA UNIVERSITY, WILBERFORCE ISLAND, BAYELSA STATE The study looked at the influence of non-life insurance sector claims settlement on the increase of total assets in Nigeria's insurance market from 2000 to 2022. The data set utilized for this research is secondary data, consisting of 22 years' yearly series of chosen variables from 2000 to 2022, obtained from the Central Bank of Nigeria (CBN) and the NAICOM statistics bulletin. The study used the Philip-Perron (PP) unit root test and the Ordinary least squares (multiple regressions) method with the E-view package to calculate the coefficient of the independent variable, non-life insurance claims settlement, on the total assets of the insurance industry as dependent variables. The hypothesis demonstrates that if each index for non-life insurance claims settlement is held constant, total insurance assets growth in Nigeria will increase by an intercept value of 0.0000246 basis points. Additionally, it is seen that non-life insurance claims settlement has a regression coefficient of 0.010995, which is a positive coefficient. The Adjusted Co-efficient of Determination, which was 0.050918, shows that in the model used, the independent variable. The p-value of non-life insurance claims settlement impacting total insurance asset growth in Nigeria is 0.8621, which above the level of significance of 0.05. It indicated that there was statistical insignificance. According to the study's results, non-life insurance sector claims settlement has no substantial influence on the insurance industry's overall asset growth rate. https://wissjournals.com.ng/index.php/wiss/article/view/402Claims settlementInsurance industry developmentInsurance marketNon-life insuranceTotal assets |
| spellingShingle | SOLOMON DAVID PERE JOSIAH BOLOU-OWEI EDIKE INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) International Studies Journal Claims settlement Insurance industry development Insurance market Non-life insurance Total assets |
| title | INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) |
| title_full | INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) |
| title_fullStr | INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) |
| title_full_unstemmed | INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) |
| title_short | INFLUENCE OF NON-LIFE INSURANCE SECTOR CLAIMS SETTLEMENT ON THE INCREASE OF TOTAL ASSETS IN NIGERIA'S INSURANCE MARKET (2000 TO 2022) |
| title_sort | influence of non life insurance sector claims settlement on the increase of total assets in nigeria s insurance market 2000 to 2022 |
| topic | Claims settlement Insurance industry development Insurance market Non-life insurance Total assets |
| url | https://wissjournals.com.ng/index.php/wiss/article/view/402 |
| work_keys_str_mv | AT solomondavidpere influenceofnonlifeinsurancesectorclaimssettlementontheincreaseoftotalassetsinnigeriasinsurancemarket2000to2022 AT josiahbolouoweiedike influenceofnonlifeinsurancesectorclaimssettlementontheincreaseoftotalassetsinnigeriasinsurancemarket2000to2022 |