Enterprise Risk Management in the Nigerian Insurance Industry

The study looked at how Nigerian-listed insurance companies performed in terms of enterprise risk management (ERM). An ex post facto research design was used in the study. According to Nigeria Stock Exchange (NSE) data, as of December 30, 2021, there were 23 insurance businesses listed on the Exchange (NSE). Ten Nigerian insurance firms made up the sample size. In choosing the selected firms, we used the convenience sampling approach. The sample firms’ financial statements and annual reports were used to collect data for the study. The statutory audit of the financial accounts served as the foundation for validity and reliability. Inferential (multiple regressions) and descriptive statistics were used to analyze the data. According to the findings, ERM has no significant impact on the earnings per share, return on assets, or return on equity of Nigerian-listed insurance companies. According to the study’s findings, ERM has little or no financial impact on Nigeria’s listed insurance businesses. The research proposed that risk committee meetings be held regularly in order to improve performance and that members of the committee should be proficient in managing risk-related issues. It also suggested that the committee be allowed to operate independently.