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Product Category: Projects
Product Code: 00002064
No of Pages: 78
No of Chapters: 5
File Format: Microsoft Word
Price :
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ABSTRACT
The aim of this study is to analyze he impact and
benefit of the capital market in the realization of the insurance industry
contribute to the economy. Despite the low number of insurance companies listed
in the stock exchange, there are positive prospects of improvement after the
recent capitalization. The problems encountered during the research would be
addressed through the implementation of the suggested solution. It was finally
conclude that capital market contributes to the growth of insurance sector in
TABLE OF
CONTENTS
Title page…………………………………………………..…i
Certification
…………………………………….………..…ii
Dedication …………………………………….………..…iii
Acknowledgement
………………………………..……..…iv
Table of
content…………………………………..………v-vii
Abstract………………………………………………..…..viii
CHAPTER ONE
1.1
Introduction
…………………………………...……...………1
1.2
Statement
of problem………………………………….......……7
1.3
Objective
of study ………………………………………..……10
1.4
Significance
of the study ………………………………………11
1.5
Scope
and limitation of study …………………….…………13
CHAPTER TWO
2. Review of related
literature ………………………….…..……1
2.0 Introduction
……………………………………...……………1
2.1 Types
of insurance business …………………………………15
2.2 The role of the
insurance sector in the economy …………...…20
2.3 What is the
capital market …………………………..………24
2.4 Role of capital
market in economic development …………….26
2.5 Factors in the
growth of the capital market …………………30
2.6 The security
market …………………………………………36
2.7 Back ground to
the development of
2.8
2.9 Composition of
2.10 The stock
exchange ……………………………………........59
CHAPTER THREE
3 Research
methodology ………………………...……………64
3.1 Introduction
……………………………….………………64
3.2 Research
design ……………………………….…………….65
3.3 Source
and method of data collection …………………………65
3.4 Population
and sample size ………………………………….66
3.5 Method
of data analysis ………………………………..67
CHAPTER FOUR
4 Data
presentation, analysis and interpretation …..…………….69
4.1 Introduction
…………………………....………………69
4.2 Hypothesis
testing ……………………………………84
4.3 Finding
………………………………...…………90
CHAPTER FIVE
5 Summary,
recommendation and conclusion ……..……….…..91
5.1 Summary
………………………............……………92
5.2 Recommendation
…………………...…………………96
5.3 Conclusion
……………………...…………………100
Appendix
……………………………………..……103
Reference
……………………………………….……105
CHAPTER ONE
1.1 INTRODUCTION
For any country to be economically sound, she must
experience a growing economic sector. It is of interest to
For economic growth to be achieved, a certain issues
that act as constraints ought to be tacked. These issues include technological
development, human resources development, low productivity, capital formation,
price stability etc. (Iniodu 1996). And as Nwankwo (1991) observes, capital
formation which is the function of an efficient financial system is very vital”
capital formation involves the mobilization and channeling or resources form
the surplus spending units (ssu) to the deficit spending unit (Osu). The
The market is the long term end for financial
market. It is made up of the market and institutions, which facilitate the
issuance and secondary trading of long term financial instruments. Unlike the
money market which function basically to provide short-term funds, the capital
market provides funds to industries and government to meet their long-term
requirements.
The capital market has it’s mission statement that
is “promoting the
The players in the capital market are the funds providers
who are individuals, unit trusts, pension funds, insurance companies,
government intermediaries are the stock broking firms, issuing housing,
registers, audit firms and regulators e.g. securities and exchange Commission.
The
However, there is a growing concern about the
efficiency or otherwise of the
But, Williams (1988) see that capital market as
“inefficient in pooling funds for investment” he observe further that by
participation of only a few elites, it has helped to widen the gap between the
rich and poor.
This project attempts to determine the influence of
this market on the growth of the insurance companies in
1.2 STATEMENT
OF THE PROBLEM
To understand the subject matter we will look at the
capital market on the growth of insurance in Nigeria. We want to, also believe
that the insurance company is a member of the capital market which function
among others involves in the channeling of long-term funds from the surplus to
the deficit for investment, but after the finding of William (1988) was sees
the capital market as being inefficient, implying that insurance company is
inefficient in pooling funds fro investment. He also added that only a few
elites get such funds thereby creating a gap between the rich and the poor.
At this
point I will like to identify those factors that have render the insurance
sector the efficient and that must be done to correct those capital of both
life and general insurance to #20 million and #50 million, where the general
business includes oil and gas insurance, among another activities. Reinsurance
has a minimum paid-up capital of #150 million (Akpan 1999). One of the major
sources of capital insurance companies is the capital market that has being fully
descried in the introduction.
Examining the performance of the five companies
quoted on the stock exchange, prestige assurance,
The
same cannot be said for crusade and unic insurance, which recorded a slight
decrease in 2002 and 2001 despite the impact of the capital market. This can be
as a result of the general impact of variable knowing fully well that the main
function of an insurance company is indemnity which is taking an individual to
where he or she was before he or she suffers loss and finally is want to know
why only few insurance companies are quoted.
1.3 OBJECTIVE OF THE STUDY
The objective of this research are as following:
1) Examine the capital market in the
development of the insurance sector..
ii) Appraise the impact of the
iii) Identity the problem confronting the
insurance companies as beneficiaries of the services provide by the
iv) Make recommendations on the efficient
management of the
1.4 SIGNIFICANCE
OF THE STUDY
At this time, the Nigeria government is intensifying
efforts to boost the country’s economy, the need to research on the fact that
led to economic growth in Nigeria cannot be understated. This study will aid
our understanding of economic development via the insurance sub-sectors
participation in the capital market.
Thus, this research work is considered to be
important to:
i) The
government for policy formulation.
ii) The business community for the purpose of
investment and capital formulation.
iii) The result of work will serve as a reference
materials for researches.
iv) This study will enhance the knowledge of the
researcher more about the capital market and the insurance sector.
1.5 SCOPE AND
LIMITATION OF THE STUDY
In the
course of carrying out this research work the researcher was faced with some
limitation. Such as:
1) Time constraint: The duration allowed for this study is limited and insufficient for wide traveling together materials.
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