IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE FINANCIAL PERFORMANCE OF INSURANCE COMPANIES IN NIGERIA

Abstract

The study looked at how Nigerian insurance companies' financial performance is impacted by corporate social responsibility. Multiple panel regression and OLS were the data analysis methods used in this study. Audited annual financial reports provided the 2021–2024 panel statistics, reflecting comprehensive financial and operational business metrics. The regression analysis demonstrates that philanthropic CSR investments have a major impact on organizational performance. The study comes to the conclusion that CSR is crucial for businesses and communities.CSR programs may assist employees and organizations in uniting, boosting morale, and feeling more connected to the global community. The greater the CSR level engaged by these insurance firms, the greater the level of trust from the people which improves the profitability of insurance companies. As a result, the study recommended that regulators should develop environmental policies and operational procedures for business to meet its environmental obligations, consider publishing a report outlining the environmental impact initiatives and outcomes.