The study examined corporate governance costs and premium mobilization of insurance firms in Nigeria. The specific objectives of the study are, to ascertain the relationship between, board remuneration, audit fee and annual general meeting expenses with gross premium income of insurance firms in Nigeria. The sample consists of five (5) insurance firms listed on Nigeria Exchange Group during 2011-2020 periods. The secondary data extracted from the annual reports and financial statements of the selected firms were analyzed using descriptive statistics, multiple regression and correlation analysis. Findings from the analysis indicate that the relationship between board remuneration and annual general meeting expenses with gross premium income of the selected insurance firms is positive and weak while the relationship between audit fee with gross premium income is positive and statistically strong. The implication of these findings is that as board remuneration, audit fee and annual general meeting expenses are increasing, gross premium income of the firms also increases and vice versa. Based on these findings, the study recommended that the insurance firms should improve their board remuneration to enhance their gross premium income. This can be achieved by appointing board members with the requisite qualification and experience who will contribute meaningfully in the policy formulation and strategic planning of the insurance firms, thereby improving the gross premium and financial performance of the insurance firms. It was also recommended that the insurance firms should appoint well qualified, experienced and independent audit firms that will deliver high quality audit work to improve internal control and financial performance of the firms. It was finally recommended that the insurance firms should hold their annual general meetings as at and when due so that important issues requiring stakeholders’ attention will be identified and treated promptly. Regular annual general meetings will invariably increase the annual general meeting expenses, but as indicated in the findings of the study it will translate to high stakeholders’ engagement and eventually improve the gross premium income and other financial performances of the firms.
