ABSTRACT
This research work sets out to evaluate the impact of capital market as a catalyst tool for the growth of Nigerian insurance industry. The problem that prompted the research of this project was in connection with the need to recapitalize the insurance industry and position it for challenges of rising industrial and commercial activities of globalizing economy such as Nigeria, among the objectives of the study were;
1. To examine the reasons for insurance firms sourcing fund from the capital market.
2. To discover reasons why some insurance companies have not desired to be quoted in the Nigerians stock exchange.
3. To evaluate the impact of the Nigeria Capital Market on the growth of the insurance business in Nigeria.
4. To identify some institutional arrangements and provisions that is capable of influencing the desire to participate in Nigeria stock exchange.
Exhaustive review and research was carried out on the long existence of insurance and capital market, the participants, operations and recent development in these two sectors was carefully understood and discussed. The primary source of data is form of questionnaire was used in this work. A hundred and fourteen questionnaires was distributed but hundred were returned and fourteen retained by our respondents.
The secondary data was also used for this research work. The questionnaire was structured into simplified and systemized multiple-choice questions. The data were analyzed using questions. The data were analyzed using likert scaling and percentage response. The researchers found out that the recent recapitalization have fairly improved the capital base of the insurance industry. I recommended among others that awareness should be created on insurance stocks to the populations within the working class who are the potential investors institutions. Government should make it mandatory for all insurance company to be quoted in the NSE. A complaints bureau should be set up for aggrieved party.
I concluded that capital market have served and is still serving as a catalyst instrument that boosted and is still boosting the growth of the insurance industry.
TABLE OF CONTENTS
Title Page
Approval Page
Dedication
Acknowledgement
Abstract
Table of Contents
CHAPTER ONE
1.0 Introduction
1.1 Background for the Study
1.2 Statement of the Problem
1.3 Objective of the Study
1.4 Research Questions
1.5 Hypothesis
1.6 Scope of the Study
1.7 Limitations of the Study
1.8 Significance of the Study
1.9 Definition of Terms
CHAPTER TWO
2.0 Literature Review
2.1 Historical Background of Insurance in Nigeria
2.2 Role of Insurance Sector in the Economy
2.3 Meaning and Definitions of Capital Market
2.4 Role of Capital Market in the Economy
2.5 Factors that aid the Growth Trends of the Capital Market
2.6 Operations of the Nigeria Stock Exchange
2.7 Stock Market Participant and their Roles
2.8 The Capital Market Reform in Nigeria
2.9 Recent Developments in the Nigeria Capital Market and Globally
CHAPTER THREE
3.0 Research Methodology
3.1 Research Design
3.2 Sources of Data
3.3 Population and Sampling Techniques
3.4 Description of Research Instrument
3.5 Validation of Research Instrument
3.6 Method of Data Collection
3.7 Method of Data Presentation and Analysis
CHAPTER FOUR
4.0 Data Presentation and Analysis
4.1 Introduction
4.2 Demographic Characteristics
4.3 Extent of Recapitalization Exercise in the Industry
4.4 Insurance Industry Performance in NSE
4.5 Institutional Management Influencing Desire to Participate in NSE
4.6 Reasons for Non-quotations of some Insurance Companies in NSE
4.7 Reasons for Sourcing of Funds from the NSE
4.8 Capital Market and Long-Term Borrowing
4.9 General Presentation
4.10 Further Decision of Findings
4.11 Testing of Hypothesis
CHAPTER FIVE
5.0 Summary of Finding Conclusion and Recommendation
5.1 Summary and Finding
5.2 Conclusion
5.3 Recommendation
Bibliography
Appendix I
