Table 3: Summary of previous research.


Cummins et al. [9]
DEA-Mamquist17 Italian life, 58 nonlife, and 19 mixed life insurance companies, 1985–1993.
Wages, administrative wages, fixed capital, equity capital, and other ratios.
Life insurance benefits and changes in reserves, nonlife incurred losses in auto property, in auto liability, in other property, and in other liability, and invested assets.

Fukuyama [10]DEA-Mamquist25 Japanese life insurance companies, 1988–1993.Asset value, number of workers, and tied agents or sales representatives.Insurance reserves and loans.

Cummins et al. [11]DEA-MamquistUS insurers 1981–1990.Labor costs, materials, policy holders supplied debt capital and equity capital, and real invested assetsShort-tail personal lines, short-tail commercial lines, long-tail personal lines, long-tail commercial lines, and return on assets

Rees et al. [2]DEAGerman and British insurers.Administration costs and acquisition costs.Total premium income and annual changes of it for the UK companies, and aggregate sums insured (excluding participation in surpluses) and the annual changes of these for German companies.

Mahlberg and Url [12]DEAGerman insurers.Administration and distribution costs.Claims payments + net change in provisions + allocated investment returns, bonuses, and returned premia for each line of business.

Noulas et al. [13]DEA11 Greece life Insurance companies, 1991–1996.
Direct cost (claims) and indirect costs (salaries and other expenditures).
Premium income and revenue from investments.

Boonyasai et al. [7]DEACross-country studies; four life insurance markets: Korea, Philippines, Taiwan, and Thailand.Salaries, wages, commissions, and business and services expense.Group life insurance premiums, individual life insurance premiums, and investment income

Mahlberg and Url [14]DEAAustrian insurers.Administration cost, distribution costs and Costs of capital investments.Claims incurred + net change in provisions + allocated investment returns, bonuses, and returned premia.

Ennsfellner et al. [15]SFAAustrian health, life
and nonlife insurance
companies, 1994– 1999.

Health, life, and nonlife: net operating expenses, equity capital, and technical provisions net of reinsurance.
Health and life: incurred benefits net of reinsurance, changes in reserves net of reinsurance, and total invested assets.
Nonlife: claims incurred net of reinsurance, total invested assets.

Barros et al. [16]DEA-Mamquist27 Portugal insurance companies.
Wages, capital, total investment income, and premiums issued.
Claims paid and profits.

Cummins and Rubio-Misas [6]DEASpanish stock and mutual life insurance companies, 1989–1997.
Price of nonlife output, price of life output, labor input, materials, equity capital, debt capital, price of labor, price of materials, price of equity capital, price of debt capital, total costs, total assets, nonlife premiums, life premiums, net income, reserves/total assets, net income/equity income, debt capital/total capital, equity capital/total assets, and net income/total assets.
Total output, nonlife output, and life output.

Badunenko et al. [17]DEA160 Ukrainian insurance companies 2003–2005.Equity, liabilities, and fixed and current assetsVarious types of premiums, such as personal, property, liability, and so forth

Hussels and Ward [3]DEAGerman and british life insurance companies 1991–2002.Annual average number of employees, total assets minus total liabilities.Net written premiums, additions to reserves.

Barros et al. [18] DEANigerian insurers 1994–2005Total operating costs, total number of employees, and total investments.
Profit and loss account, net premiums, settled claims, outstanding claims, and investment.

Jeng and Lai [5]DEATaiwanese life insurance companies 1981–2004Home office labor, agent labor, business service, and equity capital.Benefit payments disaggregated into four categories: ordinary life insurance, personal accident insurance, individual health insurance, and group insurance, and increase in policy reserve (as the output of intermediation function).

Barros et al. [19]Two-stage DEA, bootstrappedGreek life insurance companies 1994–2003.Labor cost, nonlabor cost, and equity capital.Invested assets, losses incurred, reinsurance reserves, and own reserves.