Recapitalization and Return on Assets of Selected Insurance Companies in Nigeria (2010-2019)


  • Dr. Abimbola Ayodeji Cole Department Finance, Babcock University, Ilishan-Remo, Ogun State, Nigeria
  • Dr. Abolade Francis Akintola Department Finance, Babcock University, Ilishan-Remo, Ogun State, Nigeria


Recapitalization, Shareholders’ wealth, Return on assets and Capital base.


Abstract: The study investigated recapitalization and return on assets (ROA) of selected insurance companies in Nigeria from 2010-2019. Ex-post facto research design was adopted for this study from the secondary data obtained from the Nigerian Stock Exchange Factbook. Of the twenty-three (23) insurance companies listed on the Stock Exchange, ten (10) of them were selected for this study. Panel regression analysis was employed for this study. The study concluded that recapitalization has significant effect on return on assets of insurance companies in Nigeria. The study therefore recommended that management of insurance companies should take advantage of increase in their capital base to generate more profit in order to maximize shareholders wealth.


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How to Cite

Dr. Abimbola Ayodeji Cole, & Dr. Abolade Francis Akintola. (2021). Recapitalization and Return on Assets of Selected Insurance Companies in Nigeria (2010-2019). International Journal of Recent Innovations in Academic Research, 5(10), 1–7. Retrieved from