A Proposed Quantitative System to Evaluate the Performance of Syrian National Insurance Companies

Abstract

It recently appears that the Syrian insurance market has realized a

proper development and the insurance sector has opened up to private local,

Arab and foreign companies.

It is well known that the insurance companies provide insurance services

to individuals, organizations and they compete among themselves for

covering the dangers that they are exposed to, so it is necessary to evaluate

the present situation of the insurance companies operating in the market and

predict their future, and this can only be realized by the measurement of their

performance.

To achieve the objectives of our research, we have extrapolated the

findings of the most important relevant studies which have been interested

with the evaluation of the performance of insurance companies, and proved

the validity of the given assumptions and then we proposed a system of

quantitative indicators which will be consistent with the nature of insurance

activity in the Syrian market, and then we applied these indicators on the

Syrian National Insurance Company which is one of the companies operating

in the Syrian insurance market.

These indicators have proved their effectiveness concerning the

performance of the studied company.

On the basis of our research results we recommend the application of

these indicators to other insurance companies operating in the Syrian market

and the development of these indicators and increase their numbers in the

future.