Insurance Investments, Intermediation Index, and Economic Growth: Empirical Evidence from Nigeria

Abstract: The study investigates the short-run and long-run effects of the various aspects of insurance companies´investments on the insurance intermediation index and the GDP growth of the economy over time using cointegration procedure and classical linear regression analytical techniques. The results indicate that the investment activities of insurance companies jointly exert considerable positive impact on the insurance inter-relation index as well as on the GDP growth of Nigeria both in the shortrun and the long-run. This implies that the investment operations of insurance jointly exerted positive boost on overall growth of the economy of Nigeria.

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Authors: Ayodele Momudu, Chinedu B. Ezirim, Yakubu O. Abubakar