The article describes theoretical aspects of determination of financial stability of insurance companies of Ukraine. It was found the main factors that influence the financial stability of insurance companies. Influencing factors are classified into internal and external and the effects of these factors on insurers’ activities are presented. The main criteria of financial stability of insurance companies were deeply analysed and the most significant were chosen: sufficient amount of equity capital, the optimal tariff policy, balanced insurance portfolio, secure and effective reinsurance program, sufficient amount of insurance reserves for future payments, optimal investment management of insurance reserves and high solvency of an insurance company. Basic directions of provision and maintenance of financial stability of insurance companies in post-crisis period were presented. The main problems of provision and maintenance of financial stability of insurance companies were outlined and recommendations for its strengthening were provided.
Keywords: insurance company, insurer’s financial stability, solvency of the insurance company, the sources provide the insurer’s financial stability.
Date of submission 05.03.2016
- Alekhyna, E. S., 2011. Insurance. M. : Yurait, 206 p.
- Bazylevych V.D., Bazylevych K.F., Pikus R.V. ta in., 2008. Insurance. K.: Znannia, 1019 p.
- Hamankova O.O., 2007. Financial stability and solvency of the insurance company / Bulletin of Taras Shevchenko National University of Kyiv. Economics.,vol. 94-95, p. 18-23. dOi 10.17721
- Dobosh N., 2009. Assessment of financial stability of the insurance company. Formation of market economy in Ukraine, 19, p. 207-212.
- The Verkhovna Rada of Ukraine, 1996, The Law of Ukraine “Pro strakhuvannia” 07.03.1996, No. 85/96-VR
- Igonina L.L., Bazyk E.F., 2010. Features of management of financial stability of insurance companies. Finance and credit, 3, p.32-37
- Lukonin S.V. The financial stability of insurance companies and the ways of its improvement. Insurance business, 5, p.28-33.
- Molchan A.S., 2008. Methodological approaches to anti-crisis financial management. Krasnodar : KTsNTI, 73 p.
- Pavlovska, O.V., Filimonova V.O., 2015. The financial stability of the insurance company and the criteria for its provision. Efficient economy, 6.
- Pikus R. V., 2012. Optimization methodology for determining the financial stability of the insurer. The insurance market in Ukraine in terms of financial globalization: proceedings of the International Scientific Conference (10-12 Oct. 2012 r., m. Kyiv), p. 161-163.
- Rapnitskaya N.M., 2010. Factors financial stability of insurance companies in modern conditions. Bulletin MGTU, 1., p. 68-72
- Skamay L.G., Mazurina T.Y., 2004. Insurance business. M.: INFRA-M, 256 p.
- Tkachenko N.V., 2010. The financial stability of insurance companies in the context of globalization. Finance of Ukraine. 3, p.82-91
- Chernova G.V., 2005. Fundamentals of the insurance company on risky types of insurance. SPb.: Piter, 240 p.
- Ziemele J. Voronova I., 2013. Financial stability of the EU’s insurance companies. Economics and management, Vol. 18(3). – p. 436-448. DOI: http://dx.doi.org/10.5755/j01.em.18.3.4780