Akademik Veri Yönetim Sistemi
Risks, cilt.14, sa.4, 2026 (ESCI, Scopus)
The life insurance sector plays a critical role in the financial stability of countries due to its long-term liability structure and strong interaction with the financial system. The aim of this study is to evaluate the performance of the life insurance sector in the EU and EEA countries using a multi-criteria decision-making (MCDM) approach. Eight performance criteria reflecting financial stability, profitability, growth, and risk were used in the study. Criterion weights were determined using the Modified Preference Selection Index (MPSI) method, an objective method free from subjective judgments, and the performance ranking of the countries was obtained using the Combined Compromise Solution (CoCoSo) method. The data used in the analysis were obtained from the insurance statistics database published by the European Insurance and Occupational Pensions Authority (EIOPA). The findings show that ROE is the most important indicator, and that Cyprus, Hungary, and Iceland exhibit a significant positive difference in the life insurance sector compared to other countries. This study provides a unique contribution to the limited literature on comparative analyses at the country level by examining the performance of the life insurance sector in EU and EEA countries using an objective weighting and integrated ranking approach. The study results reveal important findings for a comparative assessment of life insurance markets from the perspective of regulatory bodies, policymakers, and industry stakeholders. Based on cross-sectional data for 2024, the findings should be interpreted as a framework providing a country-level risk-sensitive performance comparison under varying conditions.