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Ensuring the Financial Sustainability of Insurance Companies in the Face of Global Challenges
Tatar M. S., Hrebenikova O. V., Kovalchuk I. G.

Tatar, Maryna S., Hrebenikova, Olena V., and Kovalchuk, Iryna G. (2020) “Ensuring the Financial Sustainability of Insurance Companies in the Face of Global Challenges.” Business Inform 11:371–378.
https://doi.org/10.32983/2222-4459-2020-11-371-378

Section: Finance, Money Circulation and Credit

UDC 336:368.03

Abstract:
The article is aimed at analyzing the financial sustainability of insurance companies in dynamics, identifying the factors of influence upon it, determining the peculiarities of its provision in the face of global challenges. Global challenges, one of which is the modern pandemic resulting in the introduced socio-behavioral restrictions, caused a decline in business activity of economic entities, which significantly affected the insurance market and actualized the analysis and provision of financial sustainability of insurance companies. As result of the study, liquidity coefficients of insurance reserves, independence and financial autonomy are computed as the main indicators of financial sustainability. The analysis of the dependence of the of risk of insurance coefficient, the risk retention coefficient, the coefficient of unprofitableness of insurance operations, the profitability of sale coefficient from the proportion of ground transport insurance, the proportion of insurance of other property, the proportion of compulsory insurance of civil liability of owners of land vehicles is carried out. The criteria for ensuring financial sustainability and appropriate measures to strengthen it in the face of global challenges are proposed. Prospects for further research in this direction are the analysis of changes in the behavior of insurance companies in order to identify patterns of behavior of insurers during certain global challenges and megacrises.

Keywords: interaction, global challenges, optimization, insurance companies, insurance portfolio, economic entities, financial sustainability.

Fig.: 1. Tabl.: 10. Formulae: 5. Bibl.: 12.

Tatar Maryna S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Accounting and Taxation, National Aerospace University «Kharkiv Aviation Institute» named after M. Ye. Zhukovskiy (17 Vadyma Manka Str., Kharkіv, 61070, Ukraine)
Email: [email protected]
Hrebenikova Olena V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Accounting and Taxation, National Aerospace University «Kharkiv Aviation Institute» named after M. Ye. Zhukovskiy (17 Vadyma Manka Str., Kharkіv, 61070, Ukraine)
Email: [email protected]
Kovalchuk Iryna G. – Student, National Aerospace University «Kharkiv Aviation Institute» named after M. Ye. Zhukovskiy (17 Vadyma Manka Str., Kharkіv, 61070, Ukraine)
Email: [email protected]

List of references in article

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Zhuravlyova, O. Ye. “Zabezpechennia finansovoi stiikosti strakhovoi kompanii shliakhom optymizatsii struktury strakhovoho portfelia“ [Maintenance of the Financial Stability of the Insurance Company by Optimizing its Insurance Portfolio]. Nauka i ekonomika, no. 3 (2013): 158-167.
Klepikova, O. A. “Analiz holovnykh pokaznykiv finansovoi stiikosti strakhovoi kompanii z vykorystanniam imitatsiinoho modeliuvannia“ [Analysis of the Main Indicators of the Insurance Company's Financial Stability Using Simulation Modelling]. Visnyk Kharkivskoho natsionalnoho universytetu imeni V. N. Karazina. Seriia «Ekonomichna», no. 96 (2019): 80-94. DOI: 10.26565/2311-2379-2019-96-09
Oliinyk, V. M. “Metodolohichni zasady zabezpechennia finansovoi stiikosti strakhovykh kompanii“ [Methodological Principles of Ensuring the Financial Stability of Insurance Companies]: dys. … d-ra ekon. nauk : 08.00.08, 2016.
Oliinyk, V. M. Finansova stiikist strakhovykh kompanii [Financial Stability of Insurance Companies]. Sumy: Universytetska knyha, 2015.
Pavlovska, O. V., and Filimonova, V. O. “Finansova stiikist strakhovoi kompanii ta kryterii yii zabezpechennia“ [Financial Stability of Insurance Company and Criteria of Its Providing]. Efektyvna ekonomika. 2015. http://www.economy.nayka.com.ua/?op=1&z=4130
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“Pidsumky diialnosti strakhovykh kompanii za I kvartal 2020 roku“ [Results of Insurance Companies for the First Quarter of 2020]. Forinsurer. https://forinsurer.com/files/file00676.pdf
Tatar, M. S. “Identyfikatsiia ta klasyfikatsiia hlobalnykh vyklykiv“ [Identification and Classification of Global Challenges]. Chasopys ekonomichnykh reform, no. 3 (2020): 36-44. DOI: 10.32620/cher.2020.3.04
[Legal Act of Ukraine] (2005). https://zakon.rada.gov.ua/rada/show/v3755486-05#Text
Motashko, T. “Rozvytok svitovoho rynku strakhuvannia v umovakh didzhytalizatsii“ [World Insurance Market Development Under Digitalization]. Visnyk Kyivskoho natsionalnoho universytetu imeni Tarasa Shevchenka. Seriia «Ekonomika», no. 5 (2016): 18-24. DOI: http://dx.doi.org/10.17721/1728-2667.2016/182-5/3

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