Moderating Effect of Internal Control Activities on Risk Assessment and Performance of Insurance Companies in Nigeria

This study seeks to determine whether internal control activities moderate the effect of risk assessment on the performance of insurance companies in Nigeria. The study uses a cross-sectional research design to collect quantitative data. Primary data were collected from 232 employees of insurance companies in Nigeria through an online questionnaire using a random sampling method. The two hypotheses were tested using Smart PLS 3 software and partial least squares – structural equation modelling (PLS-SEM). The result shows that there is a positive and significant effect of risk assessment on the performance of insurance companies in Nigeria. Furthermore, the findings show that internal control significantly moderates the relationship between risk assessment and performance in Nigerian insurance companies. The study recommends that internal control should be considered by Nigerian insurance companies when implementing risk assessment programs. This may be achieved through adequate supervision and employment of risk assessment officers