Application of Classification Methods to the Evaluation of Polish Insurance Companies
The evaluation of the financial standing is in the interest of both the insurance companies and other groups of businesses operating in the insurance market. The paper presents the selection of ratios characterizing the financial standing of the insurance companies in the Polish market. The authors have applied the k-means method and Ward’s method in order to classify the insurance companies according to their financial situation. The obtained results show the variation in the financial standing of the analyzed insurers and changes in this field over the last few years.
KeywordsLife Insurance Debt Ratio Polish Insurance Company Insurance Business Life Insurance Company
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