OWNERSHIP STRUCTURE AND FIRM VALUE OF LISTED INSURANCE COMPANIES IN NIGERIA

ABSTRACT Ownership structure is a fundamental aspect of corporate governance that defines how equity is distributed among different stakeholders within a firm, this study is aimed determining the relationship between ownership structure and firm value of listed insurance companies in Nigeria. Specifically it aimed at examining the impact of ownership concentration on the firm value of listed insurance companies in Nigeria, to assess the influence of ownership on the firm value of listed insurance companies in Nigeria, to examine how ownership structure affects the financial stability, profitability, and shareholder confidence of listed insurance companies in Nigeria and to explore the relationship between ownership concentration and corporate governance policies in Nigeria’s listed insurance firms. The study employed both descriptive and correlational research design. The population of the study all comprises of all enlisted insurance companies on the Nigerian Stock Exchange. According to the Nigerian Stock Exchange. The study sampled 15 15 listed insurance companies out of the population using judgmental sampling technique. Secondary data were collected from the annual reports and accounts of the sampled oil and gas companies. Also the study uses ordinary least square regression in analyzing the data. The result reveals that there is Positive Relationship Between Ownership Concentration and Firm Value (ROA and ROE): The correlation and regression analyses indicated a moderate positive relationship between ownership concentration and firm value, especially when measured using financial performance indicators like ROA and ROE. This suggests that insurance firms with higher ownership concentration tend to have better financial performance. Insurance companies in Nigeria should consider fostering optimal ownership concentration structures that encourage active monitoring and accountability by major shareholders while still ensuring operational flexibility and managerial autonomy, Regulatory authorities such as the Nigerian Exchange Group (NGX) and National Insurance Commission (NAICOM) should develop and enforce policies that promote transparency in ownership disclosures and corporate governance practices among insurance companies and Investors should assess the ownership structure of insurance firms as part of their investment decision-making process, recognizing its influence on financial performance. Were suggested among other recommendations