Financial security of the Ukrainian insurance market
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 6, Issue
Abstract
Introduction. The effective functioning of the insurance market and a high level of its financial security is a guarantee of growth of the national economy. Today, the problems of functioning of the insurance market of Ukraine are obvious. To eliminate them, it is necessary to investigate the factors of influence and ways to increase the financial safety of the insurance market. Purpose. The purpose of scientific research is to analyze the current state of the insurance market of Ukraine, to substantiate the theoretical essence of the financial safety of the insurance market and describe ways to increase it. Results. The article reveals the essence and place of financial security of the insurance market in the state economy. The actual problems of insurance companies' functioning are considered and the common trends of the Ukrainian insurance market development are highlighted. The main indicators characterizing the state of the insurance market in Ukraine are determined, some of them are analyzed. The importance of the insurance policy of the insurance company, the size of its equity, the importance of using the investment potential of the insurance company, and the placement of insurance reserves are analyzed. The internal and external factors of influence on financial safety of the insurance market are described and perspective directions of its increase are determined. Conclusion. By the results of scientific research the conclusions of theoretical and practical content are done. Firstly, the financial security of insurance company depends on its financial stability, solvency, capital adequacy, tariff and investment policy, and other factors. Secondly, the analysis of the state of the insurance market of Ukraine showed that it is far behind the advanced countries of the world and is exposed to many risks. Thirdly, it is necessary to develop and realize the strategy of development of Ukrainian insurance market.
Authors and Affiliations
Iryna Borysivna Khoma, Nadiia Anatoliivna Abramchuk
Keywords
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