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The Efficiency Analysis of Non-life Insurance Companies Active in Turkey

Author

Listed:
  • Semra Turkan

    (Hacettepe University, Faculty of Science, Department of Statistics, Ankara, Turkey)

  • Esra Polat

    (Hacettepe University, Faculty of Science, Department of Statistics, Ankara, Turkey)

  • Suleyman Gunay

    (Hacettepe University, Faculty of Science, Department of Statistics, Ankara, Turkey)

Abstract

This paper evaluates the technical efficiencies of non-life insurance companies, which are active in Turkey in 2007, using Data Envelopment Analysis (DEA). DEA, which is a nonparametric method, facilitates to examine different input-output components. DEA is a management evaluation tool that assists in identifying the most effi cient and inefficient decision making units (DMUs) in the best practice frontier. In this study, as inputs of 23 non-life insurance companies, the number of agents, the number of brokers, fi xed assets, shareholders’ equity and as outputs the investment incomes, premiums received are used. Empirical results of BCC and CCR models, which are DEA models, show that the most efficient insurance company is RAY.

Suggested Citation

  • Semra Turkan & Esra Polat & Suleyman Gunay, 2012. "The Efficiency Analysis of Non-life Insurance Companies Active in Turkey," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 15(2), pages 1-14, November.
    • Handle: RePEc:zag:zirebs:v:15:y:2012:i:2:p:1-14
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    Cited by:

    1. Draženović Bojana Olgić & Hodžić Sabina & Maradin Dario, 2019. "The Efficiency of Mandatory Pension Funds: Case of Croatia," South East European Journal of Economics and Business, Sciendo, vol. 14(2), pages 82-94, December.

    More about this item

    Keywords

    Banker-Charnes-Cooper(BCC); Charnes-Cooper-Rhodes(CCR); Data Envelopment Analysis (DEA); Efficiency; Insurance;
    All these keywords.

    JEL classification:

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

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