Measuring the Financial Performance of Reinsurance Companies in Türkiye with LODECI, CRADIS and AROMAN MCDM Methods

Authors : Arif Çilek, Onur Şeyranlıoğlu

Pages : 1-18

Doi:10.54821/uiecd.1587675

View : 163 | Download : 140

Publication Date : 2025-03-31

Article Type : Research Paper

Abstract :This study aims to measure and evaluate the financial performance of four reinsurance companies operating in Türkiye between 2022 and 2023 using the LODECI, CRADIS, and AROMAN decision models. In the study, the LODECI procedure was used to calculate the objective weight coefficients of ten performance evaluation indicators considered. Subsequently, the financial performance of the reinsurance companies over the years was assessed using the CRADIS and AROMAN procedures. The results obtained from the weighting procedures indicate that the conservation ratio is the most influential criterion on financial performance, whereas the active profitability ratio has been found to have the least effect. The CRADIS and AROMAN ranking procedures show that the performance rankings for 2022 and 2023 are as follows; Türk Reasürans, Türk Katılım Reasürans, Milli Reasürans, and VHV Reasürans. Moreover, the sensitivity analysis, carried out using 100 different scenarios to test the consistency of the findings from the proposed model, confirms that the current models produce robust and consistent results.
Keywords : Sigorta, Reasürans, Finansal Performans, ÇKKV