COVID-19 Pandemic and Performance of Quoted Insurance Companies: Examination from Delta, FCT, Lagos, Oyo and River State in Nigeria

Abstract

The measurements of Covid-19 pandemic outbreak have limited the performance of all financial institutions as well as all the global health institutions, which this has directly or indirectly led to consequential losses and interruption of businesses around the world countries. The objectivity of the study is to examine COVID-19 outbreak and performance of quoted insurers’ firms in Nigeria. The ex-post facto research design technique is employed from secondary data which are sourced from Nigeria Centre for Disease Control reports and annual financial reports for two years (2020 to 2021). Multivariate ordinary regression statistics technique is used to analyze and investigate the quasi-experimental design establishment. The results of the study reveal that the active and death epidemiological patients have an indirect insignificant association between return on assets to insurance companies in Nigeria. While recovered epidemiological patients has a direct insignificant association on insurance companies in Nigeria. It is recommended that the insurance companies should have an assessment of their asset impairments in order not to reduce the face value of investment income on futuristic cash-flow. The shortcoming effects of the epidemiological diseases have an important role on investment of economic digitalization and technological innovation and advancement. Furthermore, customer satisfaction and product brand loyalty would be embraced if and only if electronic-commerce that can lead customer satisfaction and marketing association on genuine and prospective insured and direct insurers will have impact on operators’ needs and desires at the point of agreements.