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MANAGEMENT OF REINSURANCE FUNDS A CASE STUDY OF NIGERIA REINSURANCE CORPORTION

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.

TABLE OF CONTENT

Title page- – – – – – – – – i

Approval page – – – – – – – -ii

Dedication – – – – – – – – -iii

Acknowledgement – – – – – – – -iv

Abstract – – – – – – – – – -v

Table of content – – – – – – – -vi

CHAPTER ONE

INTRODUCTION – – – – – – – -1

1.0 Background of the study – – – – -1

1.1 Statement of the problem – – – – -5

1.2 Purpose of the study – – – – – -6

1.3 Significance of the study – – – – -8

1.4 Research questions – – – – – -9

1.5 Scope of the study – – – – – – -10

CHAPTER TWO

LITERATURE REVIEW – – – – – – -11

CHAPTER THREE

Research methodology – – – – – – -39

Design of study – – – – – – – -40

CHAPTER FOUR

Presentation, analysis and interpretation of data – -48

CHAPTER FIVE

Summary of findings – – – – – – -60

Conclusion – – – – – – – – -61

Recommendations – – – – – – – -62

Suggestions for further research – – – – -64

References – – – – – – – – -65

Appendix I – – – – — – – – -68

Questionnaire. – – – – – – – -69

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