LOCAL CONTENT AND GROWTH OF NIGERIA RE-INSURANCE AN OVERVIEW. A RESEARCH PROJECT TOPICS ON INSURANCE
This study evaluate the expected impact local content on the growth and development of reinsurance in Nigeria. The historical, problems and challenges facing the growth and development of reinsurance business in Nigeria. The prospect efficient and affective management of reinsurance industry. Hence, the concept of local content in oil and gas reinsurance business stating the details, importance and problems of local content to the Nigeria reinsurance companies, the expected impact of local content of economic development of the reinsurance business. However, the data used in this study were collected from two sources primary and secondary data. A liker scaling questionnaire was the major instrument used in ascertaining basic information in the research work. The descriptive survey method was used to analysis data collected for the study. Z – test statistical model was used in testing hypothesis and other response form the respondents and yaros yama sampling technique was used to determined the sample the test conducted, conclusion was made on the findings of the study includes: there is reasons for reinsurance on the growth and development of Nigeria economic. Recommendations were made in respect of the problems facing reinsurance in Nigeria. Suggestion was also made for further study. All these are contained in chapter five, different chapters with reference at the end of each.
1.8 BACKGROUND OF THE STUDY
Risk is integral to everyday life. Once we have said that risk is always at the center of our life. This means that for every human endeavour, there is risk as a result of our difference provision according to David (2001), risk exist where the future is unknown. It represents both desirable event when one intentionally initiates certain thing in order to better as socio-economic wellbeing. “Because of these desirable and undesirable events. It is a desirable event when one intentionally initiates certain things in order to better his socio economic wellbeing. Because of these desirable and undesirable events, an organization will want to transfer their risk to an insurance company, which thereby brings about risk survey.
According to David (1989), the prince object of a risk survey is to provide the underwriter with as complete as positive of risk being offered as possible, to enable him decide whether the risk was acceptable and how it compared with the same kind as the basis for deciding premium and other terms.