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Multiattribute Assessment of the Financial Performance of Non-life Insurance Companies: Empirical Evidence from Europe

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Financial Decision Aid Using Multiple Criteria

Part of the book series: Multiple Criteria Decision Making ((MCDM))

Abstract

The European insurance market has undergone major changes over the past couple of decades, which have created new opportunities but also a lot of challenges and threats for insurers in Europe. In this study, we focus on non-life insurance companies in Europe, over the period 2000–2012, and employ a data-driven multidimensional approach to assess their financial performance, taking into account profitability, solvency, and operating performance indicators. The assessment isolates country-specific effects and, through a second-stage explanatory analysis, we examine the impact of country differences with respect to their economic status and the features of their insurance markets.

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Notes

  1. 1.

    For the country-year frontiers, m is set in relation to the number of firm-year observations from a particular country (over all years), whereas for the metafrontier it is set in relation to the total number of firm-year observations in the full panel data set.

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Author information

Authors and Affiliations

  1. School of Production Engineering and Management, Technical University of Crete, University Campus, 73100, Chania, Greece

    Michalis Doumpos & Constantin Zopounidis

  2. Audencia Business School, Institute of Finance, 8 route de la Jonelière, 44312, Nantes, France

    Emilios Galariotis, Giacomo Nocera & Constantin Zopounidis

Authors
  1. Michalis Doumpos
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  2. Emilios Galariotis
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  3. Giacomo Nocera
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  4. Constantin Zopounidis
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Corresponding author

Correspondence to Michalis Doumpos .

Editor information

Editors and Affiliations

  1. College of Business Administration, University of Bahrain, Sakhir, Bahrain

    Hatem Masri

  2. Department of Quantitative Economics, University of Oviedo, Oviedo, Asturias, Spain

    Blanca Pérez-Gladish

  3. School of Production Engineering and Management, Technical University of Crete, Chania, Greece

    Constantin Zopounidis

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Doumpos, M., Galariotis, E., Nocera, G., Zopounidis, C. (2018). Multiattribute Assessment of the Financial Performance of Non-life Insurance Companies: Empirical Evidence from Europe. In: Masri, H., Pérez-Gladish, B., Zopounidis, C. (eds) Financial Decision Aid Using Multiple Criteria. Multiple Criteria Decision Making. Springer, Cham. https://doi.org/10.1007/978-3-319-68876-3_1

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