FEATURES OF THE ASSESSMENT OF THE FINANCIAL CONDITION OF LIFE INSURANCE COMPANIES IN AN INDEPENDENT REGION: PRIORITIES FOR INSURANCE BUSINESS AND CLIENTS

Abstract

An article on the subject: «Features of the assessment of the financial condition of life insurance companies in an independent region: priorities for insurance business and clients» highlights the focus on studying the problem of new approaches to assessing the financial situation of an insurance company in the transition of the region to a financially independent infrastructure. The article deals with scientific approaches to the problems of financial analysis of insurers, materials of other domestic and foreign scientists on the assessment of the state of the insurance company's activity have been processed. The urgency and necessity of changes in the system of indices of analysis of activity of insurers are noted. It is determined that life insurance companies must have financial stability, which is a criterion for those who wish to underwrite insurance. Questions about the analysis of the activities of insurers are not enough in Ukraine. A system of indicators for which it is necessary to evaluate the financial condition of an insurance company is proposed. An analysis of the financial status of an insurance company is carried out. The financial support of a life insurance company can be measured by indicators such as the size of the authorized fund, the guarantee fund, own funds, insurance premiums, and the coefficients of the change of such indicators. The use of additional indicators is suggested. Additional indicators of the financial analysis of the insurance company helped to identify the impact and relationship between the indicators of the insurer. Separate performance indicators show the growth dynamics and this is positive for the insurer, but the calculation of additional coefficients revealed the real picture and the decline of the indicator. The conclusions and general results of the research are made. To improve the life insurer's life, we propose to continue research in this area, taking into account the particularities of the independent region.

Keywords

• insurance company
• evaluation of activity
• innovations
• financial indicators