IDEAS home Printed from
   My bibliography  Save this article

A Malmquist Index for the Greek Insurance Industry*


  • Milton Nektarios

    () (Department of Statistics and Insurance, University of Piraeus, 80 Karaoli & Demitriou street, Piraeus 18534, Greece.)

  • Carlos Pestana Barros

    () (Instituto Superior de Economia e Gestão, UECE (Research Unit on Complexity and Economics), Technical University of Lisbon, Portugal.)


The objective of this paper is to estimate the effects of deregulation after the implementation of the Third Insurance Directive in the Greek insurance market. Efficiency and productivity measures are estimated by means of data envelopment analysis, applied to a sample of almost all Greek insurance companies, for the period 1994–2003. The companies are separated into three groups: life, non-life and mixed insurance companies, and a Malmquist Index is estimated for each group. The Malmquist index is decomposed into technical efficiency change (pure technical and scale efficiency) and technological change. It is found that the life sector experienced an average annual productivity growth of 16.1 per cent, the non-life sector had a rate of 6.5 per cent and the group of mixed insurance companies had the lowest productivity of 3.3 per cent.

Suggested Citation

  • Milton Nektarios & Carlos Pestana Barros, 2010. "A Malmquist Index for the Greek Insurance Industry*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 35(2), pages 309-324, April.
  • Handle: RePEc:pal:gpprii:v:35:y:2010:i:2:p:309-324

    Download full text from publisher

    File URL:
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL:
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Wanke, Peter & Barros, Carlos Pestana, 2016. "Efficiency drivers in Brazilian insurance: A two-stage DEA meta frontier-data mining approach," Economic Modelling, Elsevier, vol. 53(C), pages 8-22.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:35:y:2010:i:2:p:309-324. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.