This paper examines the contribution of marine insurance to the development of Nigerian insurance market in the period 1984 to 2006. It is not intended to extend the study to other countries of the world, but mainly to Nigeria where the public opinion has been that insurance is of no benefit to the economic well being of the people. Research was conducted in the Nigerian Insurance Market, Central Bank of Nigeria, National Bureau for Statistics, Insurance Department of Finance and Economic Development and Research and the Development Department of Nigerian Reinsurance Corporation, Lagos. Premiums accruing to the Marine Departments of insurance companies were collected, analysed and it was confirmed that marine insurance has significant impact on the level of the development of insurance market in Nigeria.
Key words: Assessment, impact, marine insurance, development, insurance market, contribution, premium.
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