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Measuring Efficiency and Productivity Change of Insurance Companies in the European Union

Author

Listed:
  • Ing. Iveta Palecková

    (Silesian University in Opava, School of Business Administration in Karvina)

  • Lenka Precková

    (Silesian University in Opava, School of Business Administration in Karvina)

Abstract

The aim of the article is to analyse the efficiency of European insurance companies (composite, life, and non-life) in 27 EU countries during 2014-2023. Using the Data Envelopment Analysis method and the Malmquist index, the study examined the impact of technological change and input-output management. The results revealed efficiency differences between countries and positive productivity trends in most of them. Composite insurers were the most efficient, although their efficiency declined after 2021. Life insurers were less efficient than non-life insurers, which significantly improved their performance in 2023. In general, efficiency growth is more dependent on process improvements than on technological innovations.

Suggested Citation

  • Ing. Iveta Palecková & Lenka Precková, 2026. "Measuring Efficiency and Productivity Change of Insurance Companies in the European Union," Notas Económicas, Faculty of Economics, University of Coimbra, issue 61, pages 93-114, June.
    • Handle: RePEc:gmf:journl:y:2026:i:61:p:93:114
    DOI: 10.14195/2183-203X_61_4
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    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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