An analysis of the financial performances of the non-life insurance companies in Turkey

The aim of this study is to determine whether there are differences among non-life insurance companies operating in the area of non-life insurance in Turkey, based on 11 balance sheets in terms of their financial performances.In this content, two alternating models aimed at determining the financial performances in the area of non-life insurance in Turkey are build in this study and applied to 25 non-life insurance companies in the area of non-life insurance in Turkey for the period of 2005-2007. For this purpose, by applying Factor Analysis and Discriminant Analysis in the study, the common conclusions of the models tested for the area of non-life insurance in Turkey are evaluated. In the light of these conclusions, it is concluded that there are differences among non-life insurance companies in terms of their financial performances and that the most significant problems of the non-life insurance companies in the period of 2005-2007 are the short-term accountabilities and net worth.Key Words:1- Factor Analysis2- Discriminant Analysis3- Multi-variable Statistical Analysis4- Non-life Insurance5- Financial Performance