Page 72 - DUT ICGA Abstract Book

ANALYZING FIRM-SPECIFIC FACTORS AFFECTING FINANCIAL PERFORMANCE OF INSURANCE COMPANIES IN IN SOUTH AFRICA
Thabiso Sthembiso Msomi
Lecturer Department of of of Management Accounting Accounting Faculty of of of Accounting Accounting and Informatics Durban University of of of Technology South Africa Email: mndayithabiso@gmail com ORCID: https://orcid org/0000-0003-3941-6815
Abstract
The purpose of of this research was to to investigate the the effect of of firm-specific factors have on the the financial performance performance of of South African insurance companies In this article we looked at the performance performance of of 36 insurers that are publicly traded and have quantifiable markets from 2008 to 2019 The return on asset (ROA) was calculated as as a a a a a a a a a a a function of the financial performance fin in this research The dependent variables were found to be While the firm size leverage ratio ratio premium growth rate liquidity ratio ratio and tangibility of assets were examined as as dependent factors using the the panel data regression technique the the premium growth rate liquidity ratio and tangibility of assets were explored as as independent variables According to to the the the the findings of of the the the the regression analysis other firm-specific factors with the the the the exception of of leverage and liquidity ratios do not have a a a a a a a a a a statistically significant influence on the financial performance of South African insurance companies According to to the the findings of of the the study it is is advisable to to take advantage of of recent technological developments and and innovations such as as smart assurance applications and and insuretechs in in in order to cut costs associated with policyholder enrollment claims agreement and even easily achieved tailor-made policy initiatives This will have the effect of increasing premiums reducing costs as as much as as possible increasing customer happiness and ultimately leading to to an an an improvement in in in in in fin the financial performance of insurers KEYWORDS: Specific Factors Performance Insurance ROA 70 7th International Conference on on on Governance and Accountability (ICGA) 2022