台灣壽險業的經營績效評估

政府為推動保險自由化與國際化，自1987年起允許國外保險公司在台設立分公司，另於1992年開放本國新保險公司之設立，使得保險市場呈現飽和，更在2002年台灣加入了世界貿易組織（WTO）後，國內保險業所面臨的競爭壓力可想而知。本研究以29家壽險公司（24家本國公司、5家外商在台分公司）為研究對象，並用18個財務比率當作研究變數，透過財務結構指標、獲利能力指標、償債能力指標和經營能力指標等四個指標評估保險公司的經營績效。在研究方法上，結合層級分析法（AHP）和熵值（Entropy）來決定權重，再用灰關聯分析（GRA）對壽險公司做經營績效的排名。另外，也以Mann-Whitney檢定本國公司和外商公司在經營效率上是否有差異。最後，再以Spearman等級相關係數來檢定經營績效是否分別與市占率、淨值與獲利率有相關。

關鍵字

層級分析法；熵值；灰關聯分析；績效評估

並列摘要

When the Taiwanese government allowed foreign companies to set up branches in Taiwan in 1987, it became more convenient and effective for foreign insurance industries to get into the Taiwanese market. Therefore, the insurance market has presented saturated state and caused competitive situation in 1992. The insurance industries became liberalization and internationalization when Taiwan joins WTO in 2002. This study takes 29 life insurance companies as research objects (24 domestic companies and 5 Taiwanese branches of foreign companies), and choose 18 financial ratio variables for researching. Through insurance companies' indicators of financial structure, profitability indicators, solvency indicators and operating capacity indicators access the operating performance, we combine the Analytic Hierarchy Process (AHP) and the Entropy to decide the weights. We also apply the Gray Relational Analysis (GRA) to analyze 29 life insurance companies' operating rank. In addition, we look at the difference between the local companies' and foreign companies' operating performance in Taiwan. Finally, we use the rank to determine whether the operating performance is related to market share, net value, and profitability.