Director Induction and Training Programmes and Board Competence in Nigerian Insurance Companies

This study examines director induction and training programmes and their relationship with board competence in Nigerian insurance companies. Effective governance requires directors who possess the knowledge, skills, and industry understanding to provide meaningful oversight of management. The National Insurance Commission's governance guidelines for insurance companies emphasise the importance of director capacity building, yet the coverage and quality of induction and training programmes across the sector remain uneven. Drawing on human capital theory and board learning literature, this study evaluates the design, content, and implementation of director development programmes in selected insurance firms and their relationship with board competence indicators. A survey design is adopted, with questionnaires administered to sixty directors and governance officers of fifteen insurance companies, supplemented by document analysis of director development policies. Board competence is assessed using a multi-dimensional instrument covering financial literacy, risk awareness, regulatory knowledge, and strategic thinking capacity. Data are analysed using descriptive statistics and regression analysis. The study anticipates that structured, regularly updated training programmes are significantly associated with higher board competence scores. Findings will assist the National Insurance Commission, insurance company boards, and governance training institutions in elevating director development standards. Keywords: director training, board competence, insurance companies, corporate governance, NAICOM.