Publication: Sigorta sektöründe finansal performansın çok kriterli karar verme teknikleri ile analizi
Abstract
Sigortacılığın, gelişmiş ve gelişmekte olan tüm ülkelerde finans sektörünün kilit oyuncularından biri olduğu söylenebilir. Sigorta şirketleri ülkelerde ekonomik büyümeye, kaynakların verimli dağılımına, işlem maliyetlerinin azaltılmasına ve finansal kayıpların yayılmasına katkı sağlamaktadır. Ayrıca sigorta şirketleri sigortalılara sağladığı güvence karşılığında aldığı primleri yatırımlara yönlendirerek ülke ekonomilerine kaynak yaratmaktadır. Sigorta şirketlerinin yüksek performansı, yalnızca bireysel firmaların piyasa değerini iyileştirmeye değil, bunun yanı sıra genel ekonomik büyümeye ve refah artışına katkı sağlamaktadır. Gelişmiş ülke sigorta sektörleri incelendiğinde yüksek pazar payına ve prim üretimine sahip olan branşın hayat sigortaları olduğu görülmektedir. Buna karşılık olarak Türk sigorta sektörünün büyüklüğü ele alındığında hayat dışı sigortaların toplam sigorta sektörü içerisindeki payının yaklaşık olarak %85 oranında olduğu ifade edilebilir. Bu kapsamda çalışmanın amacının ülkemizde hayat dışı ve hayat/ emeklilik alanında faaliyet gösteren sigorta şirketlerinin finansal performanslarını ölçmek olduğu ifade edilebilir. Çalışmanın veri seti yıllık dönemler halinde 2014-2020 yıllarını kapsamaktadır. Verilerin analizi Çok Kriterli Karar Verme Yöntemlerinden (ÇKKV) MABAC, TOPSIS, CRITIC, MAIRCA, PIV, COCOSO ve COPELAND yöntemleri kullanılarak yapılmıştır. Analiz kapsamında sektörü özgü finansal ve teknik oranlardan oluşan 10 adet kriter (Kısa Vadeli Borçlar/ Toplam Aktifler, Dönem Net Karı/ Toplam Aktifler, Cari Varlıklar / Kısa Vadeli Borçlar, Faaliyet Giderleri / Toplam Varlıklar, Gerçekleşen Hasar / Kazanılmış Prim (Net), Toplam Özkaynaklar / Toplam Aktifler, Alınan Primler (Net) / Alınan Primler (Brüt), Vergi Öncesi Kar / Alınan Primler (Brüt), Net Kar / Toplam Özsermaye, Teknik Kar-Zarar / Alınan Primler) kullanılmıştır. Elde edilen sonuçlar ile sigorta şirketlerinin performans sıralamaları farklı yöntemler nezdinde karşılaştırılmış ve ortak bir sıralama elde edilmiştir. Ayrıca ele alınan kriterlerin sigorta şirketlerinin finansal performansları açısından önem düzeyleri ölçülmüştür.
It can be said that insurance is one of the key players in the financial sector in almost all developed and developing countries. Insurance companies contribute to economic growth, efficient distribution of resources, reduction of transaction costs and spread of financial losses in countries. In addition, insurance companies create resources for the country's economy by directing the premiums they receive in return for the assurance they provide to the insured. The high performance of insurance companies not only improves the market value of individual firms, but also contributes to overall economic growth and welfare. When the insurance sectors of developed countries are examined, it is seen that the branch with the highest market share and premium production is life insurance. On the other hand, considering the size of the Turkish insurance sector, it can be stated that the share of non-life insurances in the total insurance sector is approximately 85%. In this context, it can be stated that the aim of the study is to measure the financial performance of insurance companies operating in the non-life and life/ pension fields in our country. The data set of the study covers the years 2014-2020 in annual terms. Data analysis was performed using MABAC, TOPSIS, CRITIC, MAIRCA, PIV, COCOSO and COPELAND methods from Multi-Criteria Decision Making Methods (MCDM). Within the scope of the analysis, 10 criteria consisting of sector-specific financial and technical ratios (Short-Term Liabilities / Total Assets, Net Profit for the Period / Total Assets, Current Assets / Short-Term Liabilities, Operating Expenses / Total Assets, Realized Claims / Earned Premium (Net), Total Equity / Total Assets, Premiums Received (Net) / Premiums Received (Gross), Profit Before Tax / Premiums Received (Gross), Net Profit / Total Equity, Technical Profit-Loss / Premiums Received) are used. The results obtained and the performance rankings of insurance companies were compared in terms of different methods and a common ranking was obtained. In addition, the importance of the criteria in terms of the financial performance of insurance companies was measured.
It can be said that insurance is one of the key players in the financial sector in almost all developed and developing countries. Insurance companies contribute to economic growth, efficient distribution of resources, reduction of transaction costs and spread of financial losses in countries. In addition, insurance companies create resources for the country's economy by directing the premiums they receive in return for the assurance they provide to the insured. The high performance of insurance companies not only improves the market value of individual firms, but also contributes to overall economic growth and welfare. When the insurance sectors of developed countries are examined, it is seen that the branch with the highest market share and premium production is life insurance. On the other hand, considering the size of the Turkish insurance sector, it can be stated that the share of non-life insurances in the total insurance sector is approximately 85%. In this context, it can be stated that the aim of the study is to measure the financial performance of insurance companies operating in the non-life and life/ pension fields in our country. The data set of the study covers the years 2014-2020 in annual terms. Data analysis was performed using MABAC, TOPSIS, CRITIC, MAIRCA, PIV, COCOSO and COPELAND methods from Multi-Criteria Decision Making Methods (MCDM). Within the scope of the analysis, 10 criteria consisting of sector-specific financial and technical ratios (Short-Term Liabilities / Total Assets, Net Profit for the Period / Total Assets, Current Assets / Short-Term Liabilities, Operating Expenses / Total Assets, Realized Claims / Earned Premium (Net), Total Equity / Total Assets, Premiums Received (Net) / Premiums Received (Gross), Profit Before Tax / Premiums Received (Gross), Net Profit / Total Equity, Technical Profit-Loss / Premiums Received) are used. The results obtained and the performance rankings of insurance companies were compared in terms of different methods and a common ranking was obtained. In addition, the importance of the criteria in terms of the financial performance of insurance companies was measured.