WAYS TO INCREASE THE EFFICIENCY OF INSURANCE COMPANIES IN THE MARKET OF INSURANCE SERVICES OF UKRAINE
Abstract
The article is devoted to topical issues of functioning of insurance companies in the market of insurance services of Ukraine, highlights the main features of their activities with the ability to calculate the main economic indicators. The internal and external factors influencing the formation of profitability and profitability of insurance companies are identified, as well as ways to increase the efficiency of insurance companies in the insurance market of Ukraine are proposed. An important factor in carrying out the proposed analysis is the fact of conducting a multilateral review of the insurance company, taking into account the peculiarities of their evaluation by partners, creditors and investors. The whole proposed mechanism of research of insurance companies in the market of insurance services of Ukraine allows us to best understand the essence of insurance companies and their difference from doing business in other enterprises and industries. The main purpose of this article is to study the methods of multilateral evaluation of economic performance of insurance companies, analysis of options for their effective use and development of recommendations for improving efficiency. To analyze the effectiveness of insurance companies, we used methods of analysis of reporting, namely: the study of reporting? horizontal analysis, vertical analysis, trend analysis, calculation of financial ratios. The set of indicators that can be used in a particular case is individual and may vary. Most often, when conducting financial analysis, indicators of financial stability of the enterprise and capital structure, indicators of liquidity and solvency, indicators of business activity and profitability indicators are used. The efficiency of any insurance company and its economic position is determined by the results of its activities, and stable financial condition - the availability of the necessary financial resources, their effective use to ensure normal business activities, which explains the practical value of this article.
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