+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

EVALUATING THE IMPACT OF REINSURANCE IN THE DEVELOPMENT OF INSURANCE PRACTICE IN NIGERIA

  • Type:Project
  • Pages:60
  • Format:Microsoft Word
(Insurance Project Topics & Materials)

ABSTRACT
In the most widely accepted sense, reinsurance is understood to be that practice where an original insurer, for a definite premium, contracts with another insurer (or insurers) to carry a part or the whole of a risk assumed by the original insurer. By insurers we mean all persons, partnerships, corporations, associations, societies, associations operating as Lloyd's, inter-insurers or individual underwriters authorized by law to make contracts of insurance. We may define insurance as an agreement by which one party, for a consideration, promises to pay money or its equivalent, or to do an act valuable to the insured, upon the happening of a certain event or upon the destruction, loss or injury of something in which the other party has an interest.
The insurance business is therefore the business of making and administering contracts of insurance. 
Insurance contracts are of two types.
- Those which engage merely to pay a sum of money on the happening of an event, or 
- merely to begin series of payments on or after the happening of a certain event, are contracts of investment.
Contracts of insurance which engage to pay money or its equivalent, or the doing of acts valuable to the insured, upon destruction, loss or injury involving things, are contracts of indemnity.
And so, reinsurance may be second insurance of (a) contracts of investment and/or (b) contracts of indemnity. 
From the light of the above assertions, this research work titled “Evaluating the impact of reinsurance in the development of insurance practice in Nigeria” was carried out using the standard five chapter project format. 
As a descriptive survey, the study comprised 50 insurance companies in Lagos State, Nigeria out of which a sample of 10 companies were selected. Out of the 20 life and 30 non-life insurance companies in the sample, 4 life and 6 non-life insurance were selected using random sampling techniques. The instrument used for the study was a questionnaire designed, validated and found reliable for the study. Chi-square method of analysis was employed in the test of hypothesis of this study.
Finally findings, recommendations and conclusions on the subject matter were presented at the last chapter of this work.  

TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgment
Abstract
Table of content
CHAPTER ONE
1.1 BACKGROUND OF STUDY 
1.2 STATEMENT OF PROBLEM
1.3 PURPOSE OF STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 SCOPE AND LIMITATION
1.6 RESEARCH QUESTIONS
1.7 RESEARCH HYPOTHESIS
1.8 DEFINITION OF TERMS
CHAPTER TWO
LITERATURE REVIEW
2.1 ORIGIN AND DEVELOPMENT OF REINSURANCE- the foreign perspective 
2.1.1 REINSURANCE IN THE FIRE INSURANCE BUSINESS
2.2 THE IMPACT OF INSURANCE PRACTICE ON ECONOMIC GROWTH
2.2.1 General or non-Life Business
2.2.2 Life Assurance Business
2.3 ORGANISATION OF INSURNACE COMPANY
2.3.1 UNDER WRITING DEPARTMENT 
2.3.2 CLAIMS DEPARTMENT 
2.3.3 REINSURANCE DEPARTMENT
2.3.4 FINANCE DEPARTMENT
2.4 PURPOSE OF INSURANCE COMPANY
2.4.1 PROMOTION OF CONFIDENCE
2.4.2 POOLINGS OF INVESTMENT FUNDS
2.4.3 RESERVED FUND RELEASE
REFERENCES

CHAPTER THREE
RESEARCH METHODOLOGY
3.1 SOURCES OF DATA
3.2 POPULATION CHARACTERISTICS
3.3 NATURE OF DATA ANALYSIS
3.4 SAMPLE SIZE
CHAPTER FOUR
DATA ANALYSIS
4.1 RESULTS AND DISCUSSION
4.2 DISCUSSION 
CHAPTER FIVE
FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
 5.1 FINDINGS
5.2 CONCLUSIONS
5.3 RECOMMENDATIONS
EVALUATING THE IMPACT OF REINSURANCE IN THE DEVELOPMENT OF INSURANCE PRACTICE IN NIGERIA

Share This

Details

Type Project
Department Insurance
Project ID INS0123
Price ₦3,000 ($9)
No of Pages 60 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Insurance
    Project ID INS0123
    Price ₦3,000 ($9)
    No of Pages 60 Pages
    Format Microsoft Word

    Related Works

    A CRITICAL REVIEW OF THE IMPACT OF GOOD ACCOUNTING SYSTEM IN THE GROWTH AND DEVELOPMENT OF INSURANCE INDUSTRY(A CASE STUDY OF IGI, LEADWAY AND NICON INSURANCE COMPANIES) ABSTRACT This study survey critical review of the impact of good accounting system in the growth and development of insurance industry. Some problems facing accounting system... Continue Reading
    ABSTRACT This project work is entitled, the impact of insurance on the economic development of Nigeria. It was carried out in NICON Insurance Corporation Lagos as a case study. The objective of this research is to comprehensively examine the impact of Insurance on the economic development of Nigeria. This study is categorized into five (5)... Continue Reading
    ABSTRACT Business produce goods and services to satisfy the demand of customers. Muchas these businesses declare profit year-in-year-out, they also face element of riskand uncertainties that may causes losses. This includes fire, theft, damage byartificial or natural agents and so forth. The business men in the olden daysengage into economic... Continue Reading
    ABSTRACT The purpose at this research is concerned on the impact of the government policies in regulating the activities of insurance companies operating in Nigeria. The government responsibility to supervise, regulate and control the activities of insurance companies and intermediaries is to protect the interest of the insuring public and to save... Continue Reading
    ABSTRACT Prior to the introduction of the local content initiative, the rate of capital flight from the oil and gas sector was colossal. This trend was not encouraging for a nation that hopes to become one of the 20 leading economies in the world. Therefore in a bid to stem this trend, the Federal Government in 2007 introduced the Local content... Continue Reading
    ABSTRACT  Evaluation of the impact risk survey in the manufacturing firm in Nigeria. The research was aimed at evaluation the impact of risk survey in manufacturing firms in Nigeria with a case study of Emenite Limited which is the researchers’... Continue Reading
    ABSTRACT Insurance companies are legal entities that cover the insured against certain unexpected occurrence of an event in exchange for payment of a predetermined amount of money called premium. In underwriting insured risks insurance... Continue Reading
    ABSTRACT Insurance companies are legal entities that cover the insured against certain unexpected occurrence of an event in exchange for payment of a predetermined amount of money called premium. In underwriting insured risks insurance companies do accepts risks that have different risk profile but the acceptance of those risks are under different... Continue Reading
    INTRODUCTION An insurance company assumes risk insured by his clients and therefore, he is exposed to the danger that some risk he insured might result to heavy losses or the aggregate or some losses he incurred within a period of time say one year would be so large as to wipe out it profit and possible endanger its risk to the reinsurance... Continue Reading
    ABSTRACT The main purpose of the project is to design a software for insurance institutions. It studies the operations and concept of insurance companies. Insurance as a vital discipline, in the society deals with different security, policies and has a diverse relationship with other professional fields. This project has been specially written and... Continue Reading