Functioning insurance market in ukrainian economy system crisis
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 10, Issue
Abstract
The Ukrainian economy has long been in a state of crisis, which is affects all economic actors. Despite this, the insurance market is developing, and a number of key indicators demonstrate a tendency to increase investment attractiveness. The purpose of the work is to determine the features of the functioning of the Ukrainian insurance market in the conditions of the systemic crisis in the economy and to assess the prospects for its development in the post-crisis period. The article defines the Ukrainian economy as one that is in the conditions of a systemic crisis that manifests itself in all spheres of economic activity, including in the insurance market. During the analysis of statistical data, the main trends in the development of the insurance market over the past few years have been identified, the main problems in the activity of insurers have been found, and the most promising areas for investing money have been determined. The conducted research allows making a number of conclusions: adaptation of the insurance market to the crisis situation was fast enough. Since 2016, there is a situation where the level of insurance premiums exceeds the level of inflation. In 2017, compared to 2016, the number of contracts is concluded with both legal and natural persons. The positive trend persists in 2018; the most affected by the crisis was the endowment insurance, due to the deep devaluation of the national currency, but in this segment in 2018 there was a revival; unpopular pension and medical reforms can become the main generator of personal insurance development in the medium term; almost all branches of insurance are promising, and the investment attractiveness of the insurance market has significantly increased in 2017-2018.
Authors and Affiliations
Olena Antonivna Zinchenko, Nataliia Viktorivna Suprun, Anatolii Anatoliiovych Suprun
Keywords
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