Evaluation of Life Insurance Companies Using Correlation Analysis

Abstract

Five companies (leaders and outsiders) of the life insurance market are identified: MetLife, TAS, Grawe Ukraine, INGO Ukraine Life, and AXA Life Insurance. It is accepted to consider the share of each company in the life insurance market structure in terms of insurance premiums as the resultant indicator and the equity, assets, investment income, insurance payments, insurance premiums, insurance reserves of the life insurance companies as the factors affecting their success. A general trend in activities of the companies under study – a gradual growth in their equity and assets, an increase in the insurance reserves – is identified. It is proposed to apply correlation analysis to determine the influence of the empirically selected factors. The presence of positive or negative trends in the development of life insurance companies in Ukraine is established, and the nature and strength of the relationships among factors affecting activities of the companies is determined.

Keywords

• life insurance companies
• correlation analysis
• factors
• competitive position