Developments in the insurance industry in Nigeria in 1992

Abstract

The developments in the insurance industry in Nigeria in 1992 are presented in this report. Developments in the insurance industry in Nigeria in 1992 showed that the industry expanded from 107 companies in 1991 to 121 in 1992. The paid up capital, income and expenditure recorded an increase in the year under review. Similarly, both the income and expenditure profiles in the industry increased during the year under review. In all the sub-sectors of the industry, management expenses escalated. The investment pattern showed that the overall compliance with government regulations was mixed in 1992. However, as in the previous year, equity and loan investments were the major investment outlets.