| In recent years, China’s insurance industry has got a rapid development, and the insurance companies have made a huge contribution to compensation for losses and risk sharing. Efficiency is the core issue of economics, the study on relatively efficiency of life insurance companies can contribute to the establishment of theoretical system of life insurance industry, propulsion and broaden the field of theoretical studies of China’s insurance, promote the stability and sustainable development of China’s life insurance industry, and help life insurance companies understand their own status as well as the efficiency gap with other life insurance companies, so that the companies could enhance their competitiveness. Therefore, the study on relatively efficiency of life insurance companies in China has theoretical and practical significance.In this paper, we mainly empirical research the relative efficiency of life insurance companies in China. Firstly, we used standard deviation factor weighting method to improve the traditional DEA methods. Secondly, with the CCR and BCC models of the improved DEA, we researched the relatively efficiency of21insurance companies from horizontal angle for2010, in order to more fully grasp the situation of China’s life insurance company efficiency, we add the data of2007、2008、2009, researched the relatively efficiency from vertical angle, and obtained relative total technical efficiency, relative pure technical efficiency and relative scale efficiency, for non-DEA efficient companies, through projection analysis, we get the saving amount of input indicators. Results show that:the efficiency of China’s life insurance is in a low level, pure technical efficiency has greater impact on state-owned enterprises, scale efficiency has greater impact on joint venture, the DEA efficiency of foreign life insurance companies is higher than state-owned enterprises and joint venture. At last, we proposed countermeasures and suggestions to the research results. |
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