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The Theoretical Aspects of Ensuring the Financial Sustainability of an Insurance Company
Makarenko Y. P.

Makarenko, Yuliia P. (2024) “The Theoretical Aspects of Ensuring the Financial Sustainability of an Insurance Company.” Business Inform 10:746–746.
https://doi.org/10.32983/2222-4459-2024-10-746-746

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 0

UDC 368

Abstract:
Today, ensuring the financial sustainability of an insurance company is an important element of the organization’s activities and the development of insurance services in general. It is difficult to overestimate the role of insurance in the current conditions (politically and economically unstable situation, military aggression by russia), since insurance companies cover risks and provide financial protection, distribute costs and losses, but the constant impact of negative factors prevents them from performing their functions. The financial sustainability of an insurance company is a multicomponent concept that comprises the company’s ability to pay its obligations on time, maximize profits, maintain excess income over expenses, and ensure the restoration of financial condition after the impact of negative factors. Ensuring financial sustainability is a strategically important element of the company’s activities, as it leads to economic development, which, in turn, ensures sustainability. In addition, the financial sustainability of an insurance company is one of the most important components of economic sustainability. Existence in the realities of wartime requires finding new approaches to assessing the financial sustainability of an insurance company and revising the standards of indicators that were relevant in the pre-war period. In the post-war period, it will be relevant to review the efficiency of the strategies used to prevent the harmful effects of factors, a deeper analysis of cash flows, their changes in dynamics and the identification of priority areas, and the reduction of costs. The concept of financial sustainability needs to be systematized and modernized, especially against the background of modern realities. The strengthening of the influence of negative factors, the appearance among them of new ones, previously unknown to domestic insurance companies, indicates the acquisition of greater relevance of this issue. Therefore, the approaches proposed in the article to ensure the financial sustainability of insurance companies once again reflect the need for further study of this issue to assess it, because the discussion between scientists on this issue is open, and among the factors of influence there are new ones that need to be substantiated.

Keywords: financial sustainability, insurance company, risk, insurance reserves, insurance portfolio, balance of assets and liabilities.

Fig.: 3. Tabl.: 4. Bibl.: 15.

Makarenko Yuliia P. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Banking and Insurance, Oles Honchar Dnipro National University (72 Nauky Ave., Dnіpro, 49010, Ukraine)
Email: [email protected]

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