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Both market power and efficiency contribute to the viability of the insurer, making them essential for the management of life insurance companies. This study measured efficiency using the stochastic frontier approach based on the translog cost function. We then investigated the relationship between efficiency and market power using generalized extreme value analysis. The results show a strong nonlinear, asymmetric dependence between efficiency and market power of leading Taiwanese insurers. In other words, companies with greater market power do not necessarily exhibit greater efficiency. This study provides a reference to aid life insurance companies in the formulation of operational strategies.

Cr-C-Al2O3 deposits with different Al2O3 concentrations were successfully prepared on a Cu substrate using Cr3+-based electroplating baths. The microstructures of the Cr-C-Al2O3 deposits were examined using optical, scanning and transmission electron microscopes. The hardness values, the corrosion and wear resistance of the Cr-C and Cr-C-Al2O3 deposited specimens were evaluated. Based on the experimental results, the hardness values of the Cr-C-Al2O3 deposits increased with increasing Al2O3 concentration in the electroplating bath. According to our microstructure study, Al2O3 nanoparticles are uniformly distributed within the Cr-C deposits after electroplating in a Cr3+-based plating bath. The wear resistance of the Cr-C-deposited specimens could be noticeably improved by adding Al2O3 nanoparticles to the deposit. The Cr-C-Al2O3 deposited specimens, which were prepared in a plating bath with an Al2O3 concentration of 50 gL-1, had a relatively high wear resistance compared to the other specimens.