APPLICATION OF THE PRINCIPAL COMPONENTS ANALYSIS TECHNIQUE ON ROMANIAN INSURANCE MARKET

Ana-Maria Burca and Dan Armeanu ()

Revista Economica, 2012, vol. Supplement, issue 4, 99-106

Abstract: Principal components analysis (PCA) represents a mathematical algorithm that reduces the dimensionality of the data while retaining most of the variation in the data set, by identifying directions, called principal components, along which the variation in the data is maximal. Nowadays, PCA is widely used in all forms of analysis due to its simplicity and its capacity of extracting relevant information from confusing data sets. In this paper, we will apply the PCA to determine the financial strength of the insurance companies that operated on the Romanian market in 2010, taking into consideration the deteriorating conditions of the economic environment.

Date: 2012
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