PURBA, ANDOHAR TONGGO ALFRANDO (2025) ANALISIS KINERJA KEUANGAN PERUSAHAAN DENGAN MENGGUNAKAN ANALISIS RASIO DAN PREDIKSI KEBANGKRUTAN PADA PERUSAHAAN ASURANSI JIWA KONVENSIONAL DI INDONESIA. Tesis (S2) - thesis, Universitas Bakrie.
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Abstract
This study aims to analyse the financial performance of conventional life insurance companies in Indonesia during the period 2018–2023 using financial ratio analysis and the Modified Altman Z-Score bankruptcy prediction model. A quantitative descriptive-comparative approach was employed. The financial ratios analysed include Current Ratio (CR), Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Risk Based Capital (RBC), Loss Ratio (LR), Expense Ratio (ER), Combine Ratio (COR), along with the Modified Altman Z-Score model. The financial ratio analysis revealed that several companies demonstrated strong performance, with adequate liquidity, stable profitability, and efficient operationsindicating a sound financial structure and effective risk management. However, the results from the Modified Altman Z-Score model showed low Z-Scores for some companies, placing them in the bankruptcy category, despite appearing financially healthy based on conventional ratio analysis. Using the non-parametric Wilcoxon Signed-Rank Test, the study found significant differences between financial performance assessments based on ratio analysis and those derived from the Modified Altman Z-Score model. This indicates that the two methods possess distinct characteristics in evaluating financial health. The findings provide valuable insights for regulators, investors, and company management in conducting comprehensive financial evaluations and encourage the adoption of diverse approaches in supervising the life insurance industry.
| Item Type: | Thesis (Tesis (S2) - ) |
|---|---|
| Uncontrolled Keywords: | Ratio Analysis, Risk Based Capital, Modified Altman Z-Score, Conventional Life Insurance, Financial Performance. |
| Subjects: | Accounting Finance > Finance Management > Business Finance Management > Corporate Strategy Finance > Finance Management > Corporation Finance Finance Finance > Finance Management Finance > Liquidity Management Research Science Paper > Research Report Thesis > Thesis (S2) |
| Divisions: | Fakultas Ekonomi dan Ilmu Sosial > Program Studi Magister Management |
| Depositing User: | Andohar Tonggo Alfrando Purba |
| Date Deposited: | 22 Sep 2025 02:24 |
| Last Modified: | 22 Sep 2025 02:24 |
| URI: | https://repository.bakrie.ac.id/id/eprint/12775 |
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