CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCES OF LISTED INSURANCE COMPANIES IN NIGERIA
Abstract
This study examines the relationship between corporate governance practices and the financial performance of listed insurance companies in Nigeria. Corporate governance, encompassing mechanisms such as board composition, board size, ownership structure, and audit committee effectiveness, is critical for ensuring accountability, transparency, and strategic direction in the insurance sector. Using data from selected insurance firms listed on the Nigerian Exchange Group over a defined period, the research employs both descriptive and inferential statistical methods to analyze the effect of governance variables on key financial performance indicators, including Return on Assets (ROA, Return on Equity (ROE), and Earnings per Share (EPS). The findings reveal that strong corporate governance structures significantly enhance financial performance, with particular emphasis on board independence and the presence of experienced directors. The study concludes by recommending that regulatory bodies and stakeholders prioritize the enforcement of governance codes to improve the financial health and investor confidence in Nigeria's insurance industry.
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