The Guardian finding showed that the life segment made over 60 per cent of the income as they have lots of long-term funds, especially annuity funds, to invest in lucrative investment windows, leaving 40 per cent for the general insurance.The industry investment income, it was learnt, grew by 12 per cent between 2018 and 2019 financial year-end, and it is projected to rise to over N1 trillion by the end of 2020 financial year.
With an average investment yield of about 7.9 per cent, real interests are negative as inflation is currently over 14 per cent.The average yield on 364 days treasury certificates was about 14 per cent in 2018 significantly higher than the industry’s average returns on its investment portfolio.
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