Comparison of the performance indicators of selected life insurance companies in the EU

V magistrski nalogi smo analizirali kazalnike poslovanja življenjskih zavarovalnic v desetletnem obdobju, v štirih zavarovalnicah, v treh različnih državah. Najprej smo postavili osnove, ki so bile potrebne za razumevanje delovanja zavarovalnic, značilnosti življenjskih zavarovanj, razvoj življenjskih zavarovanj v posamezni državi in predstavitev analiziranih zavarovalnic. To smo naredili s prebiranjem strokovnih člankov, letnih poročil in knjig. V drugem delu magistrske naloge smo se osredotočili na kazalnike poslovanja zavarovalnic v zavarovalni skupini življenjskih zavarovanj. Kazalniki za zavarovalnico Triglav so bili že izračunani v letnih poročilih zavarovalnice, zato smo kazalnike lahko samo uporabili. Na podlagi izračunov zavarovalnice Triglav smo kazalnike izračunali še za preostale tri zavarovalnice, Debeko Leben, Allianz Leben in Croatia osiguranje. Pri vseh zavarovalnicah je šlo izključno za analizo zavarovalne skupine življenjskih zavarovanj. Dobljene rezultate smo uredili, medsebojno primerjali in rezultate podkrepili z ugotovitvami zavarovalnic, pozavarovalnic, agencij in drugih družb. Ugotovili smo, da se je razvoj zavarovalništva začel že zelo zgodaj, saj so varnost zagotavljale že družbe v času Egipčanov. Na sklenitev življenjskega zavarovanja vplivajo številni dejavniki, ki se med državami razlikujejo, rezultati pa so odvisni tudi od obdobja, v katerem je bila analiza narejena. V splošnem na sklenitev življenjskega zavarovanja vplivajo dohodek, stopnja izobrazbe in število otrok. Analizirani kazalniki so se v desetletnem opazovanem obdobju gibali zelo različno. V analizi ni imela nobena zavarovalnica vedno najbolj ugodnih ali najbolj neugodnih izračunov kazalnikov. Vsaka zavarovalnica je bila uspešna s svojega vidika. Zgolj na podlagi analize kazalnikov poslovanja zavarovalnic pa ne moremo sklepati o celotnem poslovanju družbe. Na poslovanje namreč vplivajo tudi drugi dejavniki, saj se uspešnost ne meri zgolj skozi prikazane kazalnike. Na podlagi analize izbranih kazalnikov življenjskih zavarovalnic prav tako ne moremo posplošiti rezultatov na celotno državo, v kateri zavarovalnica deluje.The aim of the master’s thesis was to analyse performance indicators of life insurance companies, covering a 10-year period and 4 insurance companies operating in 3 different states. The first part of the thesis establishes the groundwork necessary to understand the functioning of insurance companies. It thus presents the features of life insurance, outlines the evolution of life insurance in individual states, and specifies the insurance companies included in the analysis. All this was accomplished by reading specialist articles, annual reports and various books. The second part of the master’s thesis focuses on the performance indicators of insurance companies pertaining to life insurance. Since the indicators relating to the Zavarovalnica Triglav insurance company have already been calculated and disclosed in the company’s annual reports, it was possible to simply use those indicators. Based on Zavarovalnica Triglav’s calculations, the indicators were calculated for the remaining 3 insurance companies, i.e. Debeko Leben, Allianz Leben and Croatia osiguranje. The analysis involved only the category of life insurance for all insurance companies included. The results obtained were organised, compared and substantiated by means of findings gained by insurance companies, reinsurance companies, agencies and other undertakings. It was ascertained that the beginnings of the insurance business reach as far back as Ancient Egypt. Purchasing a life insurance policy depends on a number of factors, which differ from one state to another, while the results also depend on the period in which the analysis was conducted. The purchase of a life insurance policy is generally affected by income, the purchaser’s level of education and the number of children they have. Throughout the 10-year period under observation, the movement of the analysed indicators varied significantly. The calculations of indicators were never consistently the most (un)favourable for any of the insurance companies analysed. Each insurance company was successful from its own perspective. The analysis of performance indicators alone does not enable drawing conclusions on the overall performance of a company, as the latter is influenced by a number of other factors as well. Performance cannot be measured by considering only the presented indicators. Based on the analysis of the selected indicators of life insurance companies, the results cannot be generalised to represent the entire state in which the insurance company in question operates