WORKING CAPITAL MANAGEMENT IN INSURANCE FIRMS: A CASE STUDY OF SELECTED INSURANCE COMPANIES IN NIGERIA.

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dc.contributor.authorAGBOOLA, OLADIPO FOLOUNSO
dc.date.accessioned2014-02-10T09:29:57Z
dc.date.available2014-02-10T09:29:57Z
dc.date.issued1999-07
dc.descriptionA PROJECT SUBMITTED TO THE POST GRADUATE SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA. IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MASTERS IN BUSINESS ADMINISTRATION (MBA) OF THE AHMADU BELLO UNIVERSITY, ZARIA.en_US
dc.description.abstractThe management of working capital in insurance firms was undertaken using three selected companies as a case study, namely: Guinea Insurance Plc; UNIC Insurance Pic; and First Nigerian Insurance Company Ltd. The work was guided by the following hypothesis: (i) That Insurance companies can accurately quantify the amount of premiums and claims in a given accounting period, (ii) That the management of accounts receivable under the current liquidity squeeze is determined largely by external factors, (iii) That there is a growing trend of diversification of investment of current assets by insurance firms. Data collected, using personal interview and questionnaire and ratio analysis of the selected companies for a period of four years were used to test the hypothesis. The results obtained show that it is possible to accurately quantify the amount of premiums and claims in a given accounting period. It also revealed some difficulties with the collection of premiums, the low values of accounts receivables ratios obtained for these companies confirmed this. It was also discovered that insurance companies are not diversifying their investments as such, rather, they are increasing their levels of investments in marketable securities. This work therefore confirms two of the three hypothesis. Finally, the following recommendations were made: (i) New Methods and Strategies that will enhance the collection of premiums should be developed and in addition, incentives can be introduced to encourage regular payment of premiums, (ii) The period of claims settlement should be shortened and some of the rigours policy holders undergo before getting their claims should be eliminated, (iii) The level of expenses on premium is very high, something should be done to reduce it. (iv) Lastly, other avenues of investing idle cash other than bank deposit and securities should be exploited.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/769
dc.language.isoenen_US
dc.subjectWORKING CAPITAL,,en_US
dc.subjectMANAGEMENT,en_US
dc.subjectINSURANCE,en_US
dc.subjectFIRMS,en_US
dc.subjectSELECTED,en_US
dc.subjectINSURANCE,en_US
dc.subjectCOMPANIES,en_US
dc.subjectNIGERIA.en_US
dc.titleWORKING CAPITAL MANAGEMENT IN INSURANCE FIRMS: A CASE STUDY OF SELECTED INSURANCE COMPANIES IN NIGERIA.en_US
dc.typeThesisen_US
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