Process of Demutualization of Mutual Insurance Societies and Insurance Cooperatives in the International Market of Insurance Services
Journal Title: Бізнес Інформ - Year 2014, Vol 11, Issue 0
Abstract
The article is aimed at identifying of general trends and factors that predetermine the process of demutualization, the study of transformation of the mutual and cooperative insurance organizations into the joint-stock structures and substantiating of future prospects for the development of non-commercial forms of insurance in the international markets of insurance services. Analysis of trends of development of the mutual insurance societies and insurance cooperatives creates background for stating, that an important topic for the above organizations is to find alternative sources of funding in order to maintain competitiveness and to increase their share in the market of insurance services in circumstances of the increasingly competitive and globalized market relations. This leads to demutualization, which is determined by the majority of scientists as a process of sharing, based on the change in ownership form of the non-profit societies as well as departure of the property from the control of the co-owners. While implementing new strategies, organizations operating on the principles of mutuality, are forced to adapt to market conditions through the establishment of new organizational and legal forms of insurance: joint-stock or mutual holding companies. One of the specific features of these structures is the attempt to derive advantages from the companies targeting investors, primarily in the sphere of attracting capital, while preserving the mutual or cooperative status. According to the analytical review of international insurance markets, most non-profit insurance organizations have managed to overcome the crisis of sharing. Dynamics and development trends of mutual insurance societies and insurance cooperatives witness their competitiveness in the market of insurance services, which allows to speak of the prospect for further development of the non-commercial forms of insurance. The possibilities of introducing them into the Ukrainian practice require further scientific research.
Authors and Affiliations
Igor Tymoshenko
Keywords
Related Articles
- EP ID EP127207
- DOI -
- Views 81
- Downloads 0
Evolution of Notion of «Service» in the Aspect of Contemporary Trends in the Non-Production Sphere
The article displays the further development of theoretical positions regarding service as a standalone economic category. It is shown that at the present stage of development of the non-production sphere the commodity o...
Accounting and Analytical Provision of Management of the Financial Results of Enterprises' Activities
The article considers the order of forming data on revenues and expenses of enterprise for a more complete, high-quality and timely accounting and analytical provision of financial results of enterprise's activity, in pa...
The Organizational and Technological Basis for Regional Innovation Cluster
This article is about economic role of cluster formations, especially their role as impact factor in innovation development. These are results of analysis of examples how to use clusters as a tools in innovation policy....
Optimizing Losses in the Management of Information Expences of Processing Enterprise
The article is aimed at studying the information losses as an economic category and searching the model, which will help to reduce their level to a minimum. Analysis of literature on the subject has shown that scientists...
Development of Methodical Approaches to Assessment of Risks of the Subjects of Foreign Economic Activity when the Execute Export Contracts
The article analyses and specifies the "risk" notion with respect to execution of an export operation by subjects of foreign economic activity. It provides a scheme of execution of an export contract and marks out possib...