GRUPISANJE OSIGURAVAJUĆIH DRUŠTAVA U BIH NA OSNOVU KOMPOZITNIH VARIJABLI
GROUPING OF INSURANCE COMPANIES IN BIH BASED ON COMPOSITE VARIABLES

Summary/Abstract: This paper is the result of research into the possibility of applying different methods of multivariate statistics in order to create a ranking of insurance companies by the success of the business. In this paper, emphasis is placed on methods of cluster analysis. Bearing in mind that the current practice ranking of insurance companies, mainly, was based on a single indicator of business primary objective of this study was to explain the role and importance of cluster analysis and the development of theoretical methods and models of cluster analysis that can be successfully applied in practice the grouping of insurance companies. Scientific problem in this research is the question of homogeneity of selected 25 insurance companies in terms of performance indicators. The aim is to analyze the relationship of selected indicators and classify selected insurance companies into homogenous groups according to these indicators. The scientific contribution of this research is reflected in the provision of answers to the question of how a large number of indicators that can be used to quantify the performance of the summarized into a smaller number of composite variables (factor scores) and based on them, to make grouping of insurance companies in a homogeneous group.

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