MANAGEMENT OF REINSURANCE FUNDS A CASE STUDY OF NIGERIA REINSURANCE CORPORTION
MANAGEMENT OF REINSURANCE FUNDS A CASE STUDY OF NIGERIA REINSURANCE CORPORTION
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Date
1997
Authors
KWARI, SULEIMAN ABDU
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Abstract
The success of any organisation depends on the effective management of its
funds. Management of investment funds is one problem confronting many
companies including the Nigeria Reinsurance Corporation. This project examines
the management of Reinsurance funds with particular reference to Nigeria
Reinsurance Corporation. Specific focus was placed on the determination of
the efficiency and effectivenes of management of funds generated through
premiums, compulsory legal cession, investment income and other sources in
Nigeria Reinsurance Corporation.
The study reviewed that about 85% of registered insurance companies in Nigeria
transact business with Nigeria Reinsurance Corporation. 10096 of the premiums
received by the Corporation is invested by way of fixed deposits, purchase of
services, debentures, government securities, real estate and the like. The
Corporation has also succeeded in conserving the foreign exchange of the country
to a large extent and part of the premium received are remitted abroad for
further spreading of risk. However, the Corporation has not succeeded in
collecting much premiums because the defaulting companies have not been
prosecuted, and the volume of work in the Corporation has grown to the extend
that the mannual system being used could no longer cope with it.
The investment problem of Nigeria Reinsurance Corporation, these study
revealed, were not caused by inadequate funds, the government fiscal policies
among others affected the Corporation's miximization of its investible funds.
Based on our findings, the recommend actions of this study if implemented
will reduce if not solve most of the identified problems.
Description
BEING A PROJECT SUBMITTED TO THE POST GRADUATE
SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL
FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF
THE DEGREE IN MASTERS OF BUSINESS ADMINISTRTATION
(M.B.A.)
Keywords
MANAGEMENT, REINSURANCE, FUNDS, CASE, STUDY, STUDY, NIGERIA, REINSURANCE, CORPORTION