RESEARCH OF THE FINANCIAL STATE OF INSURANCE COMPANIES DURING THE PERIOD OF MARTIAL LAW

Abstract

The authors have revealed the issue of the financial condition of insurance companies of Ukraine during the period of martial law. Which becomes especially relevant due to the increase in the general level of financial risks and the decrease in liquidity in the market of insurance services. The purpose of the work was determined, as a study of the financial condition of insurance companies of Ukraine, with the aim of finding ways to strengthen it during the period of martial law. An assessment of the market for insurance services before the full-scale invasion and during martial law was carried out. An analysis of changes in the market structure was carried out. The dynamics of its main indicators have been determined. It was concluded that the financial condition of insurance companies of Ukraine is insufficiently stable. The foreign experience of assessing the financial condition of insurers is analyzed. A comprehensive unified system for assessing the financial condition of insurance companies is proposed. Which should take into account: definition of different types of risks, risk-oriented approach to capital assessment, separate requirements for management and control, experience of the European Union in disclosure of information, formation and publication of reports, regular stress tests and other tools. The specified system should also take into account the experience of international rating agencies and professional organizations working on the market of insurance services of Ukraine. It is also important to consider several strategic directions that lead to strengthening resilience and increasing the level of competitiveness in an unstable environment. They include constant monitoring and analysis of financial indicators for timely response to potential problems, effective risk management, optimization of the financial structure, introduction of new technologies and innovative insurance products, improvement of customer service quality, adaptation of investment strategies to current economic conditions, and active communication with clients and partners The proposed measures will contribute to increasing the financial stability of companies, their ability to adapt to changes in the external environment, and will ensure long-term success and stability in the market of insurance services of Ukraine.