The Efficiency of Life Insurance Companies in Taiwan and Mainland China

Abstract

本研究使用差額變數基礎衡量模型(slack-based measure, SBM)，以及遵循共同邊界和四階段DEA法來衡量台灣和中國大陸人壽保險公司在經環境調整後的共同邊界和區域之效率。我們的實證結果是：（1）兩個區域的壽險公司其效率得分受環境因素顯著影響。經調整後，中國大陸和台灣的區域效率得分下降為14.01％ 及 26.64 ％ ；在共同邊界效率上則分別下降38.31％ 及12.22 ％，（2）經環境調整後，台灣壽險公司的效率得分在2008年以前都優於中國大陸壽險公司，這也表明台灣壽險公司的管理效率是優於中國大陸的。（3）然而，自2008年後，台灣在經環境調整後的效率得分也低於中國大陸首先公司，這說明了台灣壽險者的優勢已經越來越小。

This study applies both metafrontier and Four-Stage DEA to measure the overall and individual efficiency of insurance companies in Taiwan and mainland China, after adjusting for differences in the operating environment across production units by using the SBM-DEA model (slack-based measure). Our major empirical findings are as follows: (1) Efficiency scores of life insurance companies in both areas are significantly affected by environmental factors. After the adjustments, the efficiency score of mainland China and Taiwan drops for 14.01% and 26.64% in regional frontier, and 38.31% and 12.22% in metafrontier frontier. (2) Under a similar environment, before 2008 Taiwan life insurance companies are more efficient than those in mainland China. (3) Under a similar environment, after 2008 Taiwan life insurance companies are less efficient than those in mainland China.