DEA Window Analysis of Insurance Sector Efficiency in the Republic of Serbia

Đurić Zlata (), Jakšić Milena () and Krstić Ana ()
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Đurić Zlata: University of Kragujevac, Faculty of Economics, Republic of Serbia
Jakšić Milena: University of Kragujevac, Faculty of Economics, Republic of Serbia
Krstić Ana: University of Kragujevac, Faculty of Economics, Republic of Serbia

Economic Themes, 2020, vol. 58, issue 3, 291-310

Abstract: Insurance market is characterized by growing competition. This has imposed needs relating to the continuous capacity building of insurance companies, the continuous improvement of operating results and the assessment of the effects of insurers’ financial investment. The ultimate goal of these activities is to implement the planned goals and achieve positive business results. It is evident that the financial stability and efficiency of the insurance sector strengthens the confidence of citizens in this type of financial intermediaries. Bearing in mind the importance of the insurance sector for the financial system and economic system growth and development, the research subject is the analysis of the insurance sector efficiency in the Republic of Serbia. The main research objective is to look at the insurance sector efficiency through the performance analysis of nine selected insurance companies in the period 2007-2018, using DEA window analysis. The analysis and systematization of theoretical research findings, along with empirical data interpretation, description and comparison yielded results pointing to very poor performance of the insurance sector as a whole, because in all years of the observed period the relative average efficiency (technical, pure technical and scale efficiency) was below 100%, especially in the period 2015-2018.

Keywords: insurance; performance; efficiency; DEA Window Analysis; Republic of Serbia (search for similar items in EconPapers)
JEL-codes: C44 C61 I13 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecothe:v:58:y:2020:i:3:p:291-310:n:1

DOI: 10.2478/ethemes-2020-0017

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