| dc.description.abstract | The goal of the study was to investigate the impact of risk management on financial performance from the perspectives of financial, operational, and enterprise management risk. The study was conducted to look at how risk management affects the financial performance of general insurance companies in Uganda. Secondary data from the financial accounts of the insurance companies was used to perform the study. The study employed an explanatory research design and a quantitative research approach to attain its goal. Ten Ugandan insurers' panel data for the nine years (2009–2017) are analyzed. According to the study's findings, financial risk, operational risk, and enterprise management risk can all have an impact on an insurance company's financial performance. The results of a random effect regression model also support this. At a 1% level of importance, financial risk, as measured by liquidity risk, has a positive and statistically significant impact on financial performance. At the 1%, 5%, and 1% significance levels, respectively, the cost to income ratio, claim settlement ratio, and asset utilization ratio—which serve as proxies for operational risk for insurance companies—have adverse, beneficial, and neutral effects on the insurers' financial performance. At a 5% level of significance, the business size used to quantify enterprise risk management has a beneficial impact on the financial performance of insurance companies. In order to decrease the number of claims for every earned premium, the study advises claims administrators in the ugandan insurance sector to manage their claims procedures effectively. | en_US |
