The insurance sector, which has a significant role in the functioning of developed country economies and the financial sector, is subject to a lot of research on its activities and financial results. Reports and statistics about the financial status and performance of organizations operating in the insurance sector are published publicly. As a result of their activities, it is more appropriate to use technical rates in the analysis for these financial sector companies, which differ from other businesses in their financial reports, and the rates are subject to analysis. However, the fact that the results expressed by each ratio used in ratio analysis provide information about different criteria and that their parameters are expressed with different numerical criteria creates difficulties for analysts in evaluating the rates holistically. Evaluating ratio analysis results together with multi-criteria decision-making techniques (MCDM) provides a holistic assessment opportunity as a result of the ratios included in the analysis. In the study, the Entropy and Gray Relational Analysis (GRA) techniques, which are among the MCDM techniques, and six ratios from the technical ratios used in the insurance sector were considered together. As a result of the study analysing the financial results for 2019, the financial performance ranking of 19 life and pension companies with 6 criteria was revealed. In this study, the importance weights of the ratios were presented according to the results determined by the Entropy method and comparatively with the assumption that they were of equal importance.