This article explains the role and significance of reinsurance in Nigeria’s insurance industry, highlighting its benefits for risk management, financial stability, regulatory compliance, and economic growth. It also discusses the reinsurance market’s evolution, key players, challenges, and opportunities for enhancing insurance penetration and technological advancements.
The article explores the critical role of solvency regulation in ensuring the financial stability and reliability of insurance companies. It delves into the framework of rules established by governments to maintain insurers’ ability to meet obligations to policyholders. Key considerations such as capital adequacy, reserve adequacy, and liquidity management are discussed, emphasizing a proactive approach to preventing systemic risks.
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