Olajide Solomon Fadun

University of Lagos | Unilag · Department of Acturial Sciences & Insurance

This study examined the socioeconomic determinants of life assurance purchase in Nigeria. It explored the effect of education, occupation, level of income, and price of life insurance policies on purchasing life insurance products. The study employed a survey research design. The study population was the civil servants in the Enugu State Government...

This study assessed the contribution of fire insurance to the Nigerian economy from 1990 to 2020. It was aimed at examining the effect of fire insurance premium income and claim expenditure on the Nigerian gross domestic product. The study was motivated by the incessant fires in Nigeria which has resulted in an increase in fire insurance premium in...

This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fir...

J o u r n a l o f A c c o u n t i n g a n d M a n a g e m e n t I S S N : 2 2 8 4-9459 J A M V ol. 1 3 , N o. 3 (2 0 2 3) Abstract: The study examined the relationship between reinsurance premiums ceded and gross premium income and the effect of reinsurance premiums accepted on the gross premium income of Nigerian non-life insurance providers. This...

Background: The performance of a sample of manufacturing enterprises was measured in terms of return on assets, and this study looked at the impact of exposure to credit risk, liquidity risk, and interest rate exposure. Objective: The aim of this study is to examine how risk exposure affects the productivity of manufacturing companies in Nigeria. T...

This research looked at the development of life insurance and economic growth using Nigeria as a case study from 2000 to 2022. Specifically, the authors examined the causal relationship between life insurance development and economic growth, analyzed the effect of life insurance penetration and life insurance density on real GDP growth rate. Data u...

Insurance plays an essential role in stimulating economic growth. Insurance is an intangible product, and prompt claim settlement proves that insurers fulfill their promises to the insureds. This paper analyses the impacts of insurance claims settlement on economic growth. It examines the effect of insurance claims' settlements on a nation's econom...

Insurance plays an essential role in economic growth. This study analyses the contribution of insurance to economic growth in Nigeria. The research utilised an ex-post facto design, using 28-year time series data (1992-2019). The study's dependent and independent variables were gross domestic product (GDP) and insurance (life and non-life) premiums...

Climate change affects individuals and business organisations. This study examines individuals and organisations' levels of awareness of the effects of climate change and their responses to climatic changes. It also establishes awareness of the predominant effects of climate change risks in Africa and Eastern Asia. This study was descriptive resear...

Commercial banks accept deposits and lend money for investment and consumption. This study used five (5) first-tier banks in Nigeria as a case study to analyze the effects of credit risk management on the financial performance of commercial banks. The study examined fifteen (15) years' worth of panel data (from 2005 to 2019), taken from the audited...

This study evaluates resources allocated for risk management by business organisations (financial and non-financial firms) in developing countries, using Zambia as a case study. Primary data collected from 158 organisations were analysed using MegaStat. The findings revealed that the majority (54.5%) of organisations, especially non-financial insti...

Providing insurance services in rural areas is beneficial to improve insurance penetration. This paper analysed the effectiveness of insurance products and services in rural Lagos State, Nigeria. It assessed the ability of the Nigerian insurance sector in providing insurance services to rural areas, and identifying how geographic conditions and lac...

In recent times, climate change has become one of the most complicated challenges facing human society. This study is aimed at establishing how the actuary is affected by the impact of climate change on agriculture. In this study, maize is the major agricultural product considered. Time series analysis (unit root test, cointegration and error corre...

Despite the institutionalization of operational risk management in banks and the strict supervision of bank regulators, operational risk events are still on the increase. It is becoming evident to banks that there is a need to identify the drivers of this risk and nib it at the root to reduce the probability of recurrence. Hence, this study examine...

Data analysis was undertaken using Ordinary Least Square (OLS) method. The findings of the study suggested that insurance (life and non-life) penetration and claims settlement impact economic growth in Nigeria during the period considered (2004-2017); and insurance (life and non-life) penetration impacted positively on the economic growth in Nigeri...

Despite the institutionalization of operational risk management in banks and the strict supervision of bank regulators, operational risk events are still on the increase. It is becoming evident to banks that there is a need to identify the drivers of this risk and nib it at the root to reduce the probability of recurrence. Hence, this study examine...

Increase in losses borne by banks as a result of inadequate operational risk management practices and the adverse impact on banks' financial performance has been a major concern to bank management and regulators. Hence, the purpose of this study is to analyse the impact of operational risk management practices on the financial performance of commer...

There are several risks associated with construction projects; hence, the need to manage construction projects risks effectively. Critical success factors (CSFs) are factors that influence the success and promote the achievement of a project objective. The concept of CSFs for construction projects has been widely researched in developed countries;...

The purpose of the paper is to explore influence of institutional ownership in insurance company on firms' insurance decisions. The study is motivated by lack of empirical evidence on impact of institutional ownership in insurance company on corporate demand for insurance. The study aims to expand the domain of factors influencing corporate demand...

The study identified risks faced by SMEs. It assessed the use of four risk management strategies (diversification, collaboration, credit scorecard and insurance) by SMEs to manage their risks. The data used for the study was collected through interviews and questionnaire. Data collected was analysed through factor analysis, chi-square and MANOVA an...

p> Corporate governance is relevant in both developed and emerging economies. The study investigated the impact of corporate governance on organisational performance, using thirty (30) randomly selected listed companies in the Nigeria Stock Exchange (NSE) in the year 2016. The study focused on three corporate governance variables (i.e., Board Size,...

Insurance is a financial contract and risk transfer mechanism suitable for managing consequences of insurable risks associated with personal and business activities. Insurance plays a vital role in the growth of an economy. The study assessed the contribution of insurance investment funds to economic growth in Nigeria, using 16-years (2000-2015) to...

Business organisations, including small and medium-sized enterprises (SMEs), operations can be disrupted; and such interruption can be either minor or major. Such interruption, if not well managed, may shorten the life of the organisation. SMEs are critical in the development of a nation because they stimulate economy growth and development. BCM pr...

Corporate governance consists of a system through which organisations are governed and organised to increase the firm's value and protect stakeholders interest. The study examined corporate governance as a risk management tool in the Nigerian banking sector. It also considered implications of corporate governance practices on the performance of ban...

The global financial crisis in the banking sector centred on range of issues connected with risk and its management. In effect, many banks were seen as being excessively focused on the potential rewards of high-hazard activities; but focused less on the negative consequences of those activities. The study also identified insurance policies suitable...

The concept of insurance evolves from mutual help in times of need and distress, rather than a business proposition for profit making as practised today. In conventional insurance, the relationship between the insurer and the insured is that of buyer and seller. This is not the case with Islamic insurance (takaful). Takaful promotes shared responsi...

Financial exclusion is a major socioeconomic problems countries, including Nigeria, are facing. Nigeria has achieved a phenomenal economic growth, but this growth has not been inclusive. Mobile phones, E-mail, E-commerce, internet facilities and 24-hour banking through ATMs have great improved in the country. The Central Bank of Nigeria (CBN) and o...

Mutual awareness of cultural references is essential in international business as levels of formality vary greatly among cultures. The emergence of capitalism into China induces international firms’ investment in the country. This resulted to creation of a production base to explore the inexpensive factors of production, particularly low-cost labou...

Using Carroll’s (1991) Corporate Social Responsibility (CSR) model, the study examines business CSR practices and stakeholders’ expectations in Nigeria. Carroll’s (1991) CSR model states that four kinds of social responsibilities constitute total CSR: economic, legal, ethical, and philanthropic. Both primary (survey) and secondary (the literature)...

Well formulated and implemented strategies are critical to firms' performance. Strategic management is beneficial to a business as it operates in a dynamic and uncertain business environment. The study views strategic management as organisational risk management framework that promotes identification and evaluation of organisational risks and oppor...

The paper examines enterprise risk management (ERM) practice in insurance companies in Nigeria. Specifically, the study explores the understanding, motivation and performance of ERM in the Nigeria's insurance industry, and the challenges which insurance companies faced in implementing ERM. The study concludes that the level of understanding of the...

The paper examines risk associated with financial services sector (FSS) and suitability of derivatives to manage these risks in Nigeria. Derivatives enable firms to hedge against systemic and non-systemic risks. The main types of derivatives are: forwards, futures, options and swaps. The paper highlights the need for development of derivatives mark...

The study advocates the adoption of Enterprise Risk Management (ERM) by firms. Despite the benefits of ERM, few firms have adopted it in Nigeria. The paper identifies factors which influence firms to adopt ERM, and explores ERM implementation challenges and benefits of adopting ERM. It also recommended a suitable ERM framework for use in Nigeria. U...

The recent economic volatility gives risk management a new focus and eminence. Successful firms are able and willing to effectively integrate risk management at all levels of management process. The purpose of the study is to highlight the importance of effective risk management (ERM) in preventing risk management failure. Risk management failure p...

The study examines the impact of Information and Communication Technology (ICT) on insurance companies' profitability. It identifies the imperatives for adoption of ICT to promoting efficient and efficient service delivery in the insurance industry as a strategy for attainment of the profit maximisation objectives of insurance companies in Nigeria....

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...