Трансформація страхового ринку України в умовах сьогодення

Abstract

Insurance is an integral element of the financial system of any state. The changes taking place in connection with Ukraine's strategic course for integration into the European Union and the world community are becoming a determining factor of organizational and legal transformations in the country, in particular in matters of further development of the insurance market. The article is devoted to the study of transformational changes in the insurance market of Ukraine, which is one of the main tasks in terms of adapting the domestic insurance market to European standards. An analysis of the main changes that have taken place and are taking place in the insurance market since its formation and after the full-scale invasion was carried out, the key trends in the activity of insurance companies were summarized, in particular, the dynamics of their number and the main indicators of insurance activity in Ukraine were analyzed. As a result, it was established that the number of insurance companies decreases every year, and the volume of their assets, on the contrary, increases. The main reason for the decrease of insurance companies is their insolvency, non-fulfillment of regulations established by the regulator and the application of measures of influence from it. Factors affecting the transformation of the insurance market and their role in the formation of insurance decisions for the future are summarized, in particular, the standardization of the licensing activity of the insurance market, the structuring of the risk management portfolio in the insurance activity, the change in the calculation or assessment of the value of insurance assets, and the renewal of approaches to the regulation of intermediary activity on the insurance market. Recommendations were provided for insurance companies and the regulator regarding the consideration of transformational factors in the development International Scientific Journal “Internauka”. Series: “Economic Sciences” https://doi.org/10.25313/2520-2294-2023-9 International Scientific Journal “Internauka”. Series: “Economic Sciences” https://doi.org/10.25313/2520-2294-2023-9 strategies of the insurance market, as well as for improving its functioning and further development in Ukraine.