Abstract:

The share and impact of the insurance sector in the global economy and financial markets is significant. Financial performance measurements and monitoring play an important role in the successful operation of insurance companies in dynamic economy and intense competition conditions. In this study, the financial performance of insurance companies operating in Borsa Istanbul (BIST) will be measured with the CRITIC-PROMETHHE II HYBRID method, one of the Multi-Criteria Decision Making (MCDM) methods, using financial ratios for the three-year period covering the years 2020-2022. Seven basic financial ratios have been determined to evaluate the financial performance of the insurance companies under review. The financial data of the companies examined were taken from the financial statements published on the Public Disclosure Platform (KAP) website and the selected financial ratios were calculated for each company. According to the results of the study, it was seen that Türkiye Sigorta A.Ş. in 2020-2021 and Agesa Hayat Emeklilik A.Ş. in 2022 had the highest performance. It has been determined that Anadolu Hayat Emeklilik A.Ş. is in the last place in the performance ranking in all three years. In addition, it has been determined that the most effective financial ratio for the insurance companies considered is the Current Ratio for 2020 and 2022, and the Return on Equity Ratio for 2021. In the literature review, no study was found in which the analysis of the financial performance of insurance companies was examined with the CRITIC-based PROMETHEE II method. In addition, the PROMETHEE method was examined under the title of European School for the first time in domestic literature reviews. With these aspects, it is thought that the study is original and will contribute to the literature.

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