- The Complete Research Material is averagely 50 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
Get the complete project »

ABSTRACT
This project work titled ‘’the management of insurance company towards the development of business enterprises’’ a case Study of Royal exchange assurance Nig. Plc. Kano. This research work intends to survey the role and the concept of insurance companies in business and in the sustainability of business enterprises in Nigeria. The researcher adopted a descriptive method of survey; the sample method use was sampling method. Both primary and secondary sources of data were used to obtain relevant information. The company has a total population of 100 employees’. The sample size was 50 which is draw from the total population using Yaro Yamani formula.In my findings, it claims for those loss will be guaranteed. It is recommended that the insurance managers should do everything possible to train their staff on job and on insurance training. It is drawn to the phase of the insurance industries with a view of determining adaptability and sustainability, taking into consideration the peculiarity of Nigeria circumstance. Take into consideration, the recapitalization exercise in the companies rather than financial effects and also to proffer solutions to problems hiking around the insurance companies.
CHAPTER ONE
INTRODUCTION
Life is full of risk and every human being is confronted with
possibility that one day one of these hazards which form part of life
may befall them because one financial loss or the other. The purpose of
insurance is to indemnify the victims for the financial loss they might
have suffered as a result of these risks. Risk is a concept that denotes
a potential negative impact to an asset or some characteristic of value
that may arise from some present process or future event. In everyday
usage, “risk” is often used synonymously with the probability of a known
loss. Paradoxically, a probable loss can be uncertain and relative in
an individual event while having a certainty in the aggregate of
multiple events (see risk vs. uncertainty below). Risk is the
possibility of an event occurring that will have an impact on the
achievement of objectives. Risk is measured in terms of impact and
likelihood.
Insurance was not set out to climate and cannot soften the blow in a
purely financial sense of obtaining monetary compensation to the victims
thereby placing them in a financial position.
The purchasing of an insurance has been earlier describe as the insured
person as a policy holder in order to protect himself against a
particular risk, take out a policy with an insured, thereby passing over
the risks to the insured on a payment of a fee known as premium.
Life is associated with different kind of risk some of this risk are
insurable while some are not. The insurance industry in each devices
different type of insurance policy to carter for each one to the
insurance risk. The more conventual‟s, one being marine, fire, life,
aviation, motor, person, accident and a lot of others.
1.1 BACK GROUND OF THE STUDY
Insurance as an industry did not exist in Nigeria until the later part
of the twentieth century. However, there existed in Nigerian
communities, some form of organize mutual social insurance schemes which
had the future of modern insurance.
Apart from the early social insurance scheme, insurance as an industry
is relatively new in Nigeria. The first operation branch of an insurance
company was open in Nigeria in Lagos in 1921 by the Royal exchange
assurance Plc. and it remain the only insurance company in Nigeria until
1949 when three British owned insurance companies were opened up.
As at the time Nigeria got her independent operating insurance as risen
to twenty five and were mainly foreign owned. The insurance degree was
prorogated to regulate the way previous legislation did not do.
The insurance company In Nigeria and the insurance industry are control
by the federal ministry of finance another offices of director of
insurance. The insurance departments of these ministries are responsible
for the control activities of insurance companies so as to ensure
compliance electrets of 1976 and other relevant regulation related to
the business of insurance in Nigeria.
Royal Exchange assurance Plc. engage themselves in the following types
of risk, they are;- loss of profit following the insurance personal
inability, trained insurance, private can insure motor cycle group,
house holders comprehensive insurance and all kind of risk.
Royal Exchange Insurance Nig. Plc. as many branches within Nigeria with
the head office in Lagos and the incorporation number 6572 and the
degree number that symbols Royal Exchange insurance his degree 58 of
1920.
1.2 STATEMENT OF THE PROBLEM
Owing to the negative factions surrounding the insurance industry in
Nigeria, the activities of the industry have been subjected to various
criticisms of those negative factions. We can identify good number of
problems. Therefore, the statement of this problem of this study could
be obtained based on the observation and critical analysis of the
industry. Non payments of claims in the industry have become a faction
that negatives the performance of the industry. Despite the factor,
insurance company collect premium from their clients.
Another is the issue of inadequate capital and investment to put the
company in a more favorable condition to meet their demand of their
clients.
Often business organization in the country that rely on the insurance
companies realize they are in the case were they incurred losses which
have been insured barely affect the business.
1.3 OBJECTIVE OF THE STUDY
As a general rule, there are hardly any differences between the aims and
objectives of the insurance in Africa from those of similar ones
operating elsewhere in the world. A brief examination of the aims of a
typical insurance emphasizing those features that would be OD special
interest to the prop actors and managers of insurance company in
Africa will be useful. The objective of an insurance company may be summarized as follows;-
1. To sell insurance cover to insurance consumers.
2. To settle all genuine claim family land promptly in accordance with law and be formed relevant insurance policy.
3. To run business or organization in such a way that it produce a fair
to the shareholders who funded that capital with which the business was
established.
In moving forward these basic objectives, the prop actor and managers of
the insurance company have certain responsibility to different group
and making their decision they must bear in mind and protect the
interest of each group, these groups are;-
i. The policy holders.
ii. The shareholders.
iii. The workers and staffs.
iv. The Nation and the society.
1.4 SIGNIFICANCE OF THE STUDY
Insurance companies form a part of the very fabric of the economy and
are indispensable to it in the modern state. They are vitally necessary
because they are one of the most important vehicles for development and
because of the security they give to entrepreneur, that policy holder
and shareholders.
The availability of insurance maximizes the entrepreneur‟s uncertainty
to the extent that some of the risks with which he is faced with can be
translated, for a fix amount called the „‟premium‟‟. He is to fully
commit his assets to the operation of his business. This enables them to
acquire the necessary confidence and tranquility of mind that are
requisites to fruitful risk looking.
1.5 SCOPE OF THE STUDY
The researcher‟s work would have been wide in nature; however, it has
restricted itself to insurance company. Thus the study will focus and
concentrate strictly on the role of insurance company towards the
development of business enterprises. Insurance provide a means for
industrial and societies to cope with some of the risks faced in
everyday life. Earning capacity is asses that should be protected
through insurance.
1.6 LIMITATIONS TO THE STUDY
A research of this nature is found to have a lot of limitations. Time
factor was a serious problem encountered; the period given for the
completion of this research work was share along with academic,
non-academic work which was necessary in relation with a completion of
school in general. The time spread to include the distribution and
gathering of questionnaire from respondents which was a problem of its
own entirely.
Financial constraints can never be rule out in a situation like this,
the money required for the running around, cost of materials etc.
Another limitation is that of material for the secondary data. Even
though there are many existing text books and journals of insurance
nature which would have been used for this research work. Getting them
in the library wasn‟t easy as many students are equally writing on
similar topics which require the same materials.
1.7 STATEMENT OF HYPOTHESIS
In every study, there is an assumption on the variable of that study.
This assumption tends to predict the outcome of the study. The
hypothesis of this study is to asset the following;-
HI: Insurance firms play a vital role in the development of nation economy.
HO: Insurance firms don‟t play a meaningful role in the development of nation‟s economy.
1.8 DEFINITION OF KEY TERMS
OD: Organizational Development
You either get what you want or your money back. T&C Apply

You can find more project topics easily, just search
-
SIMILAR BUSINESS ADMINISTRATION FINAL YEAR PROJECT RESEARCH TOPICS
-
1. THE EFFECT OF BUSINESS CREDIT AVAILABILITY ON SMALL AND MEDIUM SCALE ENTERPRISES
» CHAPTER I 1.0 INTRODUCTION For both developing and developed countries, small and medium scale firms play important roles in the process of industrial...Continue Reading »Item Type & Format: Project Material - Ms Word | 69 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
2. PROBLEMS OF LOCAL GOVERNMENT REVENUE GENERATION” (A CASE STUDY OF NSUKKA LOCAL GOVERNMENT IN ENUGU STATE)
» CHAPTER ONE 1.1 INTRODUCTION Revenue is the pivot of any economy, it is given priorities in the national budgets preparation because it is on the reve...Continue Reading »Item Type & Format: Project Material - Ms Word | 35 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
3. IMPACT OF PERSONNEL MANAGEMENT ON ORGANIZATIONAL PERFORMANCE
» Abstract This study is on impact of personnel management on organizational performance. The total population for the study is 200 staff of first bank ...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
4. EVALUATING TRANSPORTATION, WAREHOUSING AND INVENTORY CONTROL PRACTICES IN SELECTED MANUFACTURING FIRMS IN NIGERIA: TOWARDS A PHYSICAL DISTRIBUTION PRO...
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study The economy of any nation depends to a great extent on the production and distribution of finishe...Continue Reading »Item Type & Format: Project Material - Ms Word | 296 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
5. THE IMPACT OF MILLENNIUM DEVELOPMENT GOALS (MDG’S) ON THE STANDARD OF LIVING OF RURAL DWELLERS IN LERE LOCAL GOVERNMENT AREA
» CHAPTER ONE INTRODUCTION 1.1 Background of the study In order to address the problem of poverty and promote sustainable development, the Unified Natio...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
6. PROBLEMS OF EFFECTIVE SERVICE DELIVERY IN GOVERNMENT OWNED ESTABLISHMENT (CASE STUDY OF ANAMBRA BROADCASTING SERVICE ABS AWKA)
» ABSTRACT THIS WORK HAS THE PRIMARY OBJECTIVE OF STUDYING THE VARIOUS PROBLEMS OF EFFECTIVE SERVICE DELIVERY IN GOVERNMENT OWNED ESTABLISHMENT A CASE S...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
7. FINANCIAL STATEMENT: A TOOL FOR EVALUATING PERFORMANCE OF COMPANIES AND INVESTMENT DECISIONS (A CASE STUDY OF GUARANTY TRUST BANK NIGERIA PLC)
» ABSTRACT This study was conducted to assess how the financial statement is used to evaluate the performance of companies and investment decisions. It ...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
8. EFFECT OF LEADERSHIP STYLES ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES IN KADUNA STATE
» Abstract The factors which lead to the failures of Small and Medium Scale Enterprises could be tied to their decision making process, hence their lead...Continue Reading »Item Type & Format: Project Material - Ms Word | 112 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
9. THE EFFECT OF TRAINING AND DEVELOPMENT ON EMPLOYEES PERFORMANCE; AT SAFARICOM LIMITED CALL CENTRE
» CHAPTER ONE: INTRODUCTION 1:1 Background of the Study Human capital can be regarded as the prime asset of an organization and businesses need to inves...Continue Reading »Item Type & Format: Project Material - Ms Word | 65 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT
-
10. THE IMPORTANCE OF TRAINING AND DEVELOPMENT OF ORGANIZATIONAL PERFORMANCE IN AIRTEL MOBILE COMMUNICATION
» CHAPTER ONE GENERAL INTRODUCTION 1.0 INTRODUCTION This chapter contain the following, the background of the study, statement of the problem objective ...Continue Reading »Item Type & Format: Project Material - Ms Word | 58 pages |
Instant Download | Chapter 1-5 | BUSINESS ADMINISTRATION DEPARTMENT