Determinants of Corporate Financial Performance in African Insurance Market

The objective of this study was to determine the key determinants of corporate financial performance in the African insurance market. Quantitative research was employed. The researchers employed multiple regression models. The results of this study evidenced that internal factors, including underwriting risk, liquidity management, reinsurance, premium growth, capital adequacy, firm size, and firm age, affect the financial performance of insurance firms in Africa. Similarly, the study revealed that external factors, such as GDP and inflation rate, influence the financial performance of insurance firms in Africa. The researchers provided possible recommendations for policymakers and insurance firms across Africa.