Abstract
This study aims to evaluate the performance of life and pension companies operating in the Turkish insurance sector with a hybrid decision model consisting of SD and MARCOS procedures. Within the framework of the proposed performance evaluation model, the criteria selected in line with the previous literature are weighted using the SD procedure. Then, the weight coefficients obtained from the SD procedure are integrated into the MARCOS model, and the performance of the companies in the sample is compared and ranked. SD results demonstrate that the most efficient criterion for a company’s performance is the total debts criterion. In addition, Garanti Pension and Life and Ziraat Life and Pension companies have demonstrated superior financial performance compared to other companies during the five-year period analyzed.
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