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№ 8/2019

№ 8/2019

Fìnansi Ukr. 2019 (8): 45–60
https://doi.org/10.33763/finukr2019.08.045

MARKET OF FINANCIAL SERVICES

SHIRINYAN Lada 1, SHIRINYAN Aram 2, ROHANOVA Hanna 3

1National University of Food Technologies
OrcID ID : https://orcid.org/0000-0002-8349-2113
2Research and Education Center of the National Academy of Sciences of Ukraine
OrcID ID : https://orcid.org/0000-0002-6119-7084
3National University of Food Technologies
OrcID ID : https://orcid.org/0000-0003-3758-9675


The influence of the size of insurers’ assets on the efficiency of their activities in the case of German companies


The German insurance market is selected to study the impact of the size of insurers’ assets on the financial result and key indicators of their activities. The methodology of the research is based on the assessment of financial indicators of insurance companies in Germany for 2007-2016. The paper uses the data of the main players in the German insurance market: 36 health insurance companies, 43 life insurance companies, and 46 property/casuality companies. The analysis sequence includes a hierarchical cluster analysis, using scatter diagrams, company groups (clusters), histograms and frequency tables, and then – a correlation analysis between the selected factors and target indicators of the study. The paper is aimed at investigating the influence of the assets of insurance companies on their efficiency on the example of insurers in Germany due to the revealed correlations for indicators of net profit and profitability of assets. The main hypothesis of the study is formulated as follows: the correlation between the profit and the size of insurers’ assets in Germany is positive, and the correlation between the return on assets and the size of assets is negative. For insurers carrying out health insurance, it is argued: firstly, the significance of the impact of the indicator of return on equity on the financial result, and secondly, the impact of the return on investment and the share of premiums and equity in assets on the return on assets. For life insurers, the impact of sales, investment returns and the share of premiums in assets on a return on assets is obtained. For insurers that insure property, it is substantiated: firstly, the significance of the impact of return on sales and the ratio of equity to premiums on the financial result; secondly, the impact of the return on equity and investments on the return on assets.

Keywords:insurance market of Germany, insurer’s assets, health insurance, life insurance, property insurance, cluster analysis, correlation analysis

JEL: G17, G22, I13, L11


SHIRINYAN L. . The influence of the size of insurers’ assets on the efficiency of their activities in the case of German companies / L. . SHIRINYAN, A. SHIRINYAN, H. Rohanova // Фінанси України. - 2019. - № 8. - C. 45-60.

Article original in Ukrainian (pp. 45 - 60) DownloadDownloads :243
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