The efficiency analysis of the turkish insurance industry and its impact on economic growth

The insurance sector, which is an important means of raising funds in financial markets, is the backbone of developed countries' economies. Insurance sector in Turkey has not reached the level of developed market though it has a growing importance in the economy. Accordingly, the Turkish insurance sector is strengthening its position in the financial system with the regulations and studies made in the sector. In this context, financial intermediation function of insurance is mentioned and profitability, liquidity, capital adequacy and activity ratios of the sector are evaluated. Then, with the DEA which is a method used in efficiency analysis, the efficiency analysis of the sector was made based on the insurance data for the period between 2013-2017. The purpose of this study is to measure the effectiveness of the companies in the insurance sector and to make suggestions for the ineffective insurance companies to become effective. In addition, it is aimed to measure the contribution of the insurance sector to the economy.