№ 8/2018

Fìnansi Ukr. 2018 (8): 7–19

MARKET OF FINANCIAL SERVICES

IGNATYUK Anzhela ¹, SHOLOIKO Antonina ²

¹Taras Shevchenko National University of Kyiv, Research ID : http://www.researcherid.com/rid/L-4078-2017
OrcID ID : https://orcid.org/0000-0002-9103-6943
²Taras Shevchenko National University of Kyiv, Research ID : http://www.researcherid.com/rid/W-4344-2017
OrcID ID : https://orcid.org/0000-0003-1239-4281

Tendencies of the development of insurance markets after the world financial crisis

The insurance market plays a significant role in the system of the indemnification of losses from dangerous events. Because of this, it is important to investigate the development of insurance markets after the world financial crisis. The purpose of the article is to identify tendencies of the development of insurance markets after the world financial crisis and identify prerogatives for the functioning of Ukraine’s insurance market. The analysis of dynamics series, the method of comparison, and the general-to-specific approach are used in the article. Results. Firstly, the authors used a lot of statistical data on the development of the world and Ukrainian insurance markets, such as the volume of insurance premiums, insurance penetration and insurance density by region and type of insurance to define main changes in the structure of insurance market in 2016 compared to 2007. Secondly, the study reveals common and distinctive trends in the world and domestic insurance markets. Finally, the authors offer measures to improve the functioning of the insurance market in Ukraine. Not only the situation in the world insurance market but also mostly the internal situation in the country caused by the economic and political crisis of 2014-2016 affects the Ukrainian insurance market developments. It is necessary to provide microinsurance services to increase insurance penetration and insurance density. Insurance guarantee schemes should be implemented to increase a share of the life insurance market in Ukraine. Further research in this field is connected with the investigation of the development of insurance markets in the conditions of financial globalization.

Keywords:insurance market, insurance premiums, insurance penetration, insurance density

JEL: G22

Ignatyuk A. . Tendencies of the development of insurance markets after the world financial crisis / A. Ignatyuk, A. Sholoiko // Фінанси України. - 2018. - № 8. - C. 7-19.

Article original in Ukrainian (pp. 7 - 19)

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