Insurance premium and investment on indemnity in the Uganda insurance industry:
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Date
2018-11
Authors
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Publisher
Kampala International University, College of Economics and Management
Abstract
The research was purposed to investigate the relationship between insurance premiums and investment in NIC-Uganda (2007-2016),Its objectives were; to establish the trend of Investment in NIC- Uganda (2007-2016), to establish the trend of Premium in NIC- Uganda (2007-2016), to investigate the relationship between insurance premiums and investment in NIC-Uganda (2007-2016)
The hypothesis of the study was; there is no significant relationship between insurance premium and investment in NIC-Uganda, Time series analysis such as Correlation analysis, regression analysis mechanisms were used. The trend of investment and premiums had shown a general increase with percentage change of 63.6 and 63.7 percent respectively.
Using the correlation, regression approach, there was a strong positive correlation between the relationship between insurance premiums and investment in NIC-Holdings Limited (r=0.9709), there was also significant relationship between investigative relationship between insurance premiums and investment in NIC-Uganda at 0.05 level of significance.
In conclusion therefore both insurance premiums and investment has a general increase, there is a positive relationship between insurance premiums and investment in NIC-Uganda which agreed with Boose (1993), Smith (1989) study on insurance premiums and investment and found a significant relationship this implies that the investment plays a very important role in the premiums of the insurance companies of Uganda.
Description
A Research Report Submitted to the College of Economics and Management in Partial Fulfillment for the Award of Bachelor’s Degree of Science in Statistics of Kampala International University
Keywords
Insurance premium, Investment, Indemnity, Uganda insurance industry, National Insurance Corporation, Kampala district