The Empirical Research Of The Operating Efficiencies Of Chinese Property-insurance Companies And Its Influencing Factors

In recent years, following the rapid development of China's insurance market and the significant progress of reforms in Chinese insurance system, especially in the current environment of international competition, China's domestic insurance companies will face more extensive domestic and foreign markets, will stand on the superior development platform, will have more opportunities, but also face competition from domestic and foreign markets in the more intense competitive pressures. Thus, in this case, how to evaluate the current operating situations of China's insurance companies objectively and fairly? How to find the differences of opetatings among Chinese insurance companies correctly? How to analyze the impacts of related factors on the efficiency of China's insurance companies effectively? All of the aboving will become urgently in Chinese insurance market.Among numbers of Chinese insurance companies, there are some differences of operating between property-insurance companies and life-insurance companies.Because of the less current researches on the property insurance companies,we specifically study on the operating conditions of China's property-insurance Companies in this article, which will provide some references of ideas and inspiration to the relevant insurance policy-makers and managers of insurance companies.Considering the unique operating situationgs of Chinese insurance companies,this paper measures the efficiencies of operating as well as premiums-collecting and premiums-applicating for the26property-insurance companies in China from2004to2009by using a resource-constrained DEA model. We find out that, for the Chinese property-insurance companies, the operating efficiencies are relatively high and the premiums-collecting efficiencies are higher than the premiums-applicating efficiencies, which makes the optimal proportion of investments smaller in the premiums-collecting stage. In order to find out special factors to the operating efficiencies, we combine Tobit model and random effect to make a regress, and then it shows that investors and other factors could make a significant impact to the operating efficiencies of the Chinese property-insurance companies, but asset-scale, marketing-style and owner-pattern are not so on.