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№ 2022/2
1SІ "Institute for Economics and Forecasting, NAS of Ukraine"
WAYS OF PRESERVING INVESTMENT ACTIVITY OF INSURANCE COMPANIES DURING WARTIME
| Economy and forecasting 2022; 2:25-46 | https://doi.org/10.15407/econforecast2022.02.025 |
ABSTRACT ▼
The article analyzes the key indicators of domestic insurance companies and assesses the state of the insurance market in Ukraine in the pre-war period. An analysis of innovations in the insurance market regulation system of Ukraine was carried out, namely the adoption of the Law of Ukraine "On Amendments to Certain Legislative Acts to Improve Functions on State Regulation of Financial Services Markets" and the Law of Ukraine "On Insurance". The dynamics of insurance companies' activity in the insurance market of Ukraine in the pre-war period and during the war is studied. The analysis of directions of placement of assets and reserves of insurance companies is carried out. The interaction of the insurance market with the regulator of the non-banking services market by the National Bank of Ukraine during the imposition of martial law in the country is analyzed.
The risk standards for the placement of insurance assets and reserves by insurance companies in Ukraine in the pre-war period have been studied and recommendations for regulatory changes during martial law have been developed. The mechanism of state regulation of investment activity of insurance companies by the Solvency II directive is analyzed, the problems of the Ukrainian approach are outlined and the methods of regulation of investment activity during martial law are offered. Measures to stabilize the national insurance market and preserve the investment activity of Ukrainian insurance companies are proposed. It is concluded that the use of SCR (Solvency Capital Requirement) for investment activities of insurers in Ukraine, in particular, when calculating investment risks on several models, the main of which is the so-called “Standard formula” given the correlation between investments types.
Keywords:investment activity; insurance company; insurance reserves; functions of investment management during martial law; state regulation of investment activities of the insurance market in wartime
JEL: E22, K2, G32, G22, G28
| Article in English (pp. 25 - 46) | Download | Downloads :38 |
REFERENCES ▼
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