ANALYSIS AND ASSESSMENT OF THE FINANCIAL CONDITION OF THE INSURANCE COMPANY

Анотація

The article reveals the essence of the financial condition and analyzes the main financial indicators of the insurance company. It is determined that the main goal of the enterprise is to ensure a normal level of capital adequacy. Assessment of the insurer's equity capital plays an important role in characterizing its financial condition, because equity capital forms a solvency margin, and also ensures the formation of insurance reserves. Using the analysis of performance indicators and early warning tests, an assessment of the financial condition was carried out using the example of an insurance organization and data from financial statements of a JSC. «IC «Euroins Ukraine». We also analyzed the insurance company's performance on early warning tests and summarized the results. The features of the analysis of the financial condition of insurance companies are studied. Analysis of the financial condition of the insurance company raises concerns, financial indicators are well below average. The analysis of the financial condition of the company allowed us to identify the shortcomings of the financial management of the insurer and determine the directions for increasing the efficiency of its insurance activities in the country. The main factor affecting the level of profitability of insurance activities is the cost of maintaining the company, and not the level of payments, therefore, the priority direction of financial management should be to improve the management policy of the company's costs. It is also necessary to develop new approaches to making effective management decisions on assets, forming an investment portfolio. To improve the financial condition of the insurance company, it is necessary to review the activities and expand the market segment. It is necessary to offer consumers a new type of insurance services that will increase the client base and the flow of funds to current accounts, which will increase the insurer's assets. It is necessary to create a high-quality system for analyzing the financial condition of Ukrainian insurers in order to create a favorable insurance environment.

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