ESTIMATION OF THE INSURANCE ACTIVITY EFFICIENCY IN UKRAINE IN THE CONDITIONS OF SUSTAINABLE DEVELOPMENT

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Visnyk LNAU: Economics of AIC 2021 №28: 84-89

ESTIMATION OF THE INSURANCE ACTIVITY EFFICIENCY IN UKRAINE IN THE CONDITIONS OF SUSTAINABLE DEVELOPMENT

Pavlenko O., Candidate of Economics
ORCID ID: 0000-0001-6967-8424
Dnipro State Agrarian and Economic University

https://doi.org/10.31734/economics2021.28.084

Annotation

The author analyzes and defines modern approaches to assessing the effectiveness of insurance activities in Ukraine. As a result of assessing the status and structure of insurance payments paid by policyholders at the insurance market in the context of sustainable development of the country's economy, the level of their growth rates was revealed. The dynamics of insurance payments made by insurance companies by types of insurance is studied. The analysis of the structure of gross and net payments in the context of certain types of insurance is carried out. The author provides an assessment of the concentration of the insurance market in Ukraine according to the rating of insurers, during which the influence of certain factors on the elements of the insurance market is determined. Taking into account specific financial relations in the field of insurance services, the indices for assessing the effectiveness of insurance activities are separated, and their impact on insurance market participants is identified. The current legislation and regulations of Ukraine in the field of compliance with the conditions of solvency by insurers have been studied. In a market economy, it is important to use the indicators that characterize the financial stability of insurance companies in the calculation of insurance performance, taking into account the quality of asset management, asset-liability ratio, level of return on investment, profitability and other specific characteristics of their financial conditions. It is determined that the capacity and market share occupied by Ukrainian insurance companies are significantly influenced by the increase of equity and retained earnings. Particular attention is paid to determining the amount of insurance reserves, standards for the placement of insurance reserves by insurers, and their compliance with the established requirements. According to the specific features of insurance market participants, the concentration of financial resources in the assets and capital of insurers and their ratios are determined. The author makes a detailed analysis of the dynamics of the main indicators of the insurance market and its participants. The author of the research considers and suggests the main directions to increase the efficiency of insurance activity in the conditions of sustainable development of the market environment of the country's economy.

Key words

insurance, insurance market, insurance activity, insurance payments, insurer, insurance company, financial stability

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