BANCASSURANCE SYNERGTIC STRATEGY AND THE AGGREGATE INSURANCE COMPANIES' GROWTH RATE: AN EMPIRICAL EVIDENCE FROM NIGERIA

This paper examined the relationship between bancassurance and insurance Firms' income in Nigeria from 1996 to 2017. Error correction model (ECM) results suggested that Bancassurance Convergence (BANS), Interest on Credit facilities (INTR) and Total Investment (TINV) impacted positively and were statistically significant at 5% to the Aggregate Insurance Sector Growth Rate (AIGR) in the previous and current years except Inflation Rate (INFR). The study concluded that there is long run relationship among (BANS), (INFR), (INTR) and (AIGR) and recommended that aggressive improvement on Bancassurance Convergence (BANS) policy should be enacted and taken seriously to enhance efficiency in (AIGR).