MACROECONOMIC FACTORS PERFORMANCE OF NON-LIFE INSURANCE INDUSTRY NIGERIA

This study investigates the impacts of macroeconomic factors on the performance of the non-life insurance industry in Nigeria. It specifically examines the impact of inflation, exchange rates and interest rates on the performance of non-life insurance businesses. The research covers the period from 2015 to 2021, focusing on 20 non-life insurance companies operating in Nigeria. The panel ordinary least square (OLS) method was used to examine the relationship between the dependent and independent variables. The study reveals that inflation rate, interest rate, exchange rate and GDP have a strong impact on the performance of nonlife insurance firms in Nigeria. It is therefore recommended that the industry must adapt to prevailing macroeconomic
conditions and innovate to introduce new products and services