Computational and comparative study of the impact of corporate governance on financial performances of quoted insurance companies in Nigeria

The study presented the examination of the relationship between corporate governance and financial performance of 10 quoted insurance companies in Nigeria from 2010 to 2021, using descriptive statistics, correlation and multiple linear regression technique. The sampled companies were AIICO, CORNER STONE, LASACO, LAW UNION and ROCK, AXAMANSARD, NEM, NIGER, PRESTIGE, MUTUAL and UNIVERSAL Insurance PLC. The cooperate governance considered were the Board meeting, Board size and Audit committee sizes as predictor variables on each of Return on assets and Earnings per share of these companies. The study was designed to see how these predictors were related with the responses. It was revealed that Return on assets has positive relationship with all the measures of cooperate governance studied while Earnings per share showed positive relationship with Board meeting and Board size but negative relationship with Audit size. It also revealed that the mean of Return on assets was 47.66 and its standard deviation was 28.57, where the mean of Earnings per share was found to be 10.47 with the standard deviation of 25.94. The Coefficient of determination for the model of Return on assets reveals that the coporate governance was only able to explain the variation in the Return on Assets by 2.87% while the model of Earnings per share only explained the variation in the Earnings per Share by 1.72%.