Abstract
This study assessed the influence of intellectual capital in determination of financial performance of listed insurance firms in Nigeria. Data were collected from nineteen insurance firms for a period of nine (9) years (2015-2023) out of twenty-three insurance that were listed on the Nigerian Exchange Group (NGX) for the period. Return on Assets (ROA) was used as proxy for FP while capital employed efficiency; human capital efficiency and structural capital efficiency were considered as proxy for intellectual capital. Multiple regressions were used in testing the hypotheses formulated. The findings of this study indicate that HCE and SCE influenced FP among listed insurance firms in Nigeria. This implies that investments in human resources and organizational structures can lead to enhanced financial outcomes. However, the insignificant impact of CEE and FP highlights the complexity of how different mechanisms of IC contribute to overall firm performance. These insights underscore the significance of focusing on HCE and SCE to enhance financial results in the insurance sector. Hence, the study recommends that insurance companies should maintain to invest in employee development, training, and retention strategies to foster a skilled and motivated workforce; insurance firms in Nigeria should prioritize investments in organizational processes, systems, and technology to enhance operational effectiveness and profitability. More so, investing in human capital can lead to better service delivery and increased customer satisfaction, ultimately improving financial performance.
Keywords: Intellectual capital, financial performance, insurance listed on NGX