LOCAL CONTENT AND GROWTH OF NIGERIA RE-INSURANCE AN OVERVIEW

LOCAL CONTENT AND GROWTH OF NIGERIA RE-INSURANCE AN OVERVIEW

ABSTRACT

This study assesses the likely impact of local content on reinsurance growth and development in Nigeria. The history, issues and challenges facing the growth and development of the reinsurance business in Nigeria. Prospects for efficient and effective management of the reinsurance industry. Therefore, the concept of local content in oil and gas reinsurance business presents the details, importance and issues of local content for Nigerian reinsurers and the expected impact of local content on the economic development of reinsurance business. I’m here. However, the data used in this study were collected from his two sources, primary and secondary data. Liker-Scaling questionnaires have been the primary tool for gathering basic information in research work.Descriptive research methods were used to analyze the data collected for the study. A Z-test statistical model was used to test the hypotheses and responses of other respondents, and the Yaros Yama sampling technique was used to determine the sample of tests performed. The following conclusions were drawn about the results of this study:
There is a reason for reinsurance for the growth and development of the Nigerian economy. Recommendations were made on reinsurance issues in Nigeria. Suggestions for further research were also made. They are all contained in Chapter 5, with references at the end of each chapter.

table of contents

front page i

Approval page ii

Devotion III

confirmationiv

Summary of

table of contents

chapter One

Foreword

1.8 Research Background

Risk is part of everyday life. We once said that risk has always been at the center of our lives. means there is a risk. Deliberately initiating certain things to improve socioeconomic well-being are both desirable events. “For these desirable and undesirable events. Consciously initiating certain things to improve one’s socioeconomic well-being is a desirable event. Because of these desirable and undesirable events, the organization wishes to transfer its risk to the insurer, who thereby underwrites it.

According to David (1989), the primary purpose of risk research is to provide the most complete and positive risk proposal possible so that underwriters can determine whether the risk is acceptable and relative to the same species. to provide. Basis for setting conditions for insurance premiums, etc.

Even today, research is closely related to providing underwriting information, and in many cases the information disclosed in the full bid form must be supplemented by expert reports before the full picture can be completed. However, investigators are now more interested in their audience. Historically, measurement has been one aspect of the broader issue of risk management. Furthermore, the practices of individual insurers vary and there are no established standards for examining manufacturing companies. It is safe to say that risks of an unusual or idiosyncratic nature are normally evaluated in this company. A safety or risk audit is conducted.

A security audit is a critical examination of a single process within it to identify potential risk levels of hazards. Audits are often conducted in interdisciplinary conditions. Individual members should have a good knowledge of legal requirements, an understanding of good industry practices and, most importantly, the ability to communicate with staff or departments at all levels within the organization. In many companies, this expertise is not readily available, so audits are usually performed by outside experts. B. A consulting engineer working independently or employed by an insurance company. In manufacturing companies such as Emenite Limited, there is a risk of serious injury/danger when machinery is involved on a large scale. Report from Emenite Limited’s Health and Safety Officer. However, it has been shown that up to 80% of accidents are not due to simple causes such as falling, heavy lifting or broken hand tools. Risk assessments are therefore of great help in improving the productivity of manufacturing companies by reviewing risks and also in improving the workforce facilities of companies such as Emenite Limited.

1.9 Problem Definition.

Manufacturers are exposed to various risks due to their activities in manufacturing products. Therefore, the role of risk gathering in manufacturing companies cannot be overemphasized as it plays a major role in sustaining the growth and survival of manufacturing companies in Nigeria. Nwite (2007) The inability of humans to accurately predict the outcome of their efforts, the consequences of their actions or inactions, is a finite and finite human nature.