Abstract:
Introduction- Enterprise risk management is the modern concept that was used by financial companies to manage their risk. This study was conducted to examine the impact of enterprise risk management on underwriting profit in insurance companies in Sri Lanka. Design/Methodology/Approach- The secondary data was collected from the sample of nine insurance companies in Sri Lanka for the period of eight years from 2013 to 2020. The drawing sample data was tested using panel data regression inference the results throughout pool ordinary least square, fixed effect and random effect models.
Findings- The researcher used correlation analysis to measure the association between Enterprise risk management and underwriting profit.
Conclusion – According to the finding of this study chief risk officer, risk committee, independent board of directors, solvency margin, leverage and external stakeholders showed a negative relationship between underwriting profit and only size showed a positive relationship between underwriting profit. Moreover, the result of this study found that there was a significant negative impact from solvency margin on underwriting profit and, there was a significant positive impact on the size of underwriting profit in insurance companies in Sri Lanka
