ABSTRACT
Insurance is one of the key sectors in the economic development of Nigeria. The insurance market is made up of sellers of the insurance products that are, the insurance companies who provide covers for various risks and the intermediaries namely insurance agents and brokers. Life assurance contracts are usually for much longer periods. Life funds are therefore accumulated to long-term liabilities. The main purpose of this study is to assess the management of life insurance funds using AXA Mansard Insurance plc as a case study. This study therefore is exploratory study designed to determine how life funds are properly managed. Data were collected through administration of questionnaire and analysis was made based on the questionnaire administered. The data were analysed using descriptive statistics. Having analysed the data, the study came out that life insurance funds in Nigeria are placed both in short and long-term investments and there is generally a positive effect on the management of life assurance funds in Nigerian insurance markets.It was recommended that all the stakeholders, including management of insurance companies, policy makers and policy holders should collaborate and come out with conducive business climate to ensure effective investment of life funds for greater returns to investors.
TABLE OF CONTENTS PAGES
Title i
Declaration ii
Certification iii
Dedication iv
Acknowledgements v
Abstract vi
Table of contents vii
CHAPTER ONE: INTRODUCTION
1.0 Background to the Study 1
1.1 Statement of the Problem 3
1.2 Objectives of the study 4
1.3 Research Questions 5
1.4 Scope and Limitations 6
1.5 Significant of Study 6
1.6 Definition of terms 7
CHAPTER TWO: Literature Review
2.0 Introduction 9
2.1 General review of existing literature investment management of life insurance funds 9
2.2 Types of life assurance 10
2.2.1 Term Assurance 10
2.2.2 Whole life Assurance 13
2.2.3 Innovation in whole life Assurance 15
2.4 Asset, Liability and Investment 23
2.5 Risk and Return 26
2.6 Factors that determine the demand for life insurance 27 2.7 &nb
