By Peter Egwuatu
The Nigerian insurance indus-try is performing below its risk capacity evident by the low patronage of insurance services in the country.
PriceWaterHouse analysts stated this in a report titled: Insurance penetration in Nigeria.
The analysts are of the view that if the growth in the insurance industry can be achieved, it will aid development and growth in the economy, encourage savings and investment, aid job creation and growth in capital markets and financial assets.
The insurance stocks on the Nigerian Stock Exchange, NSE, are not performing well as they should, given the apathy of investors who believe that insurance firms are not well managed, thus affecting profitability.
Aside from the regulatory issues which operators in the industry are grappling with, poor patronage of insurance in Nigeria could be blamed on relationship management by some insurance companies which sometimes is below par because an average customer simply wants to…
Source: Vanguard Newspaper
