近年台灣產險業在主管機關實施費率自由化及開辦經營傷害險及健康險等政策下，保費收入及可運用資金逐年增加，使得產險公司能夠進行更多的投資運用，此外各家產險公司也積極向海外拓展，藉以增加業務量及競爭力。在台灣金融市場日趨成熟下，儘管產險公司擁有許多投資的運用空間，但未必能獲得更好的投資報酬率，如何提高其財務績效確保公司的永續經營，是管理階層重要的課題。 本研究採用資料包絡分析法(DEA)，評估2008-2014年台灣地區17家產險公司之財務績效，再利用Malmquist生產力指數法評估各公司之跨年度期間的生產力變動趨勢，並以Tobit迴歸觀察影響台灣產險公司財務績效之因素，最後對於管理上的涵義，我們利用資料包絡分析法中CRS的效率值以及Malmquist生產力指數法的總生產力變動，組成經營策略矩陣並進行分析。研究結果顯示，影響財務績效效率值之因素為財務槓桿、市占率、成立時間以及公司股權結構等，其中財務槓桿及成立時間呈現顯著負向影響；市佔率及公司股權結構則呈現顯著正向影響。另外，藉由效率值以及總生產力變動所組合的矩陣，顯示有5家產險公司在2014年的產險業中具有相對優勢，且過去7年在投資運用上操作得宜，使公司財務效率逐步成長成長。 This paper adopted data envelopment analysis (DEA) and the Malmquist productivity index to evaluate the financial efficiency of 17 non-life insurance companies in Taiwan for the period 2008 to 2014. In addition, this paper used the Tobit regression method to examine the factors that may influence the financial efficiency of non-life insurance companies. Finally, based on the empirical results of financial efficiency and a management decision matrix, the assessment of the competitive strategy was provided for 17 non-life insurance companies of Taiwan. The results revealed that financial efficiency can be explained by Leverage, Market share, Date established and Group. Both Leverage and Data established have a negative relationship with efficiency value; Market share and Group have a positive relationship with efficiency value. We also find five non-life insurance companies have higher efficiency of financial performance than other companies in 2014, and their total productivity are better than other companies for the period 2008 to 2014.
