The Role Of Re-insurance In Nigeria Insurance Market (case Study Of Nigeria Re-insurance Company Limited)

INTRODUCTION

An insurance company assumes risk insured by his clients and therefore, he is exposed to the danger that some risk he insured might result to heavy losses or the aggregate or some losses he incurred within a period of time say one year would be so large as to wipe out it profit and possible endanger its risk to the reinsurance company.

Therefore, reinsurance is the method whereby an original insurer distributes its risk by giving the whole or some portions to another insurer reinsured with the object of reducing the amount of the possible loss.

Some of the problems which the reinsurer encounter a are as follows;

Insurance companies due to reinsurance can go on collecting many policy from the insured both bad or good risk, whereby they will retain the right and code out the bad ones to the reinsurer making them to run extra lost in covering those policies.

Reinsurance on their own part do not settle most of the genuine claims. This is where inadequate, header writer are being employed which do not know how to make up a claim procedure while some are in other words; reinsurance is to insurer of the direct insure.

TABLE OF CONTENTS

CHAPTER ONE

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1  Definition and origin of reinsurance 

2.2 Classification of insurance business

2.3.Document used in re-insurance contract

2.4 The role of reinsurance in insurance development 

2.6 Re-insurance and insurance relationship

2. The achievements of re-insurance in Nigeria Insurance market

2.6. The problem facing re-insurance market

2.8 The merit and demerit of reinsurance 

2.7 Need/Purpose of re-insurance

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

CHAPTER FOUR

4.1 DATA PRESENTATION AND ANALYSIS

CHAPTER FIVE

5.0.SUMMARY, CONCLUSION AND RECOMMENDATION

5.1.Summary

5.2.Conclusion 

5.3 Recommendations

References

APPENDIX

QUESTIONNAIRE