THE DETERMINANTS OF ENTERPRISE RISK MANAGEMENT OF LISTED INSURANCE FIRMS IN NIGERIA

The study the determinants of enterprise risk management of listed insurance firms in Nigeria from 2014 to 2023. The study used descriptive research design. The population of the study was twentytwo (22) listed insurance firms in Nigeria as at December, 2023 and a sample size of 20 listed insurance firms using the judgemental sampling technique and with the aid of filtering criteria that is based on unavailability of published annual report with the Nigerian Exchange Limited. Secondary data was extracted from the audited financial statement of the listed firms. To analyse data sourced the ordinary least square (OLS) regression model was adopted. The findings revealed that liquidity and input expenses significantly impact on enterprise risk management of listed insurance firms positively. However, underwriting risk showed a negative and significant impact on enterprise risk management of listed insurance firms. Nevertheless, leverage showed an insignificant negative impact on risk management of listed insurance firms. Therefore, the study recommended that management of listed insurance firms in Nigeria should maintain and sustain a high liquidity profile in order to meet maturing claims as they fall due. In addition, compliance with underwriting risk and input expenses policy will strengthen the enterprise risk objectives.