INVESTMENT ACTIVITY OF INSURANCE COMPANIES IN THE INSURANCE MARKET OF UKRAINE: ASSESSMENT AND DIRECTIONS OF DEVELOPMENT IN MODERN CONDITIONS

Анотація

The article considers the formation and investment of financial resources of insurance companies in Ukraine in the current conditions and outlines the main directions of increasing the investment potential of insurance companies. The dynamics of growth of insurance premiums, reserves, assets and equity of insurance companies as important indicators of market development in general and investment income of insurance companies are studied. The small share of insurance premiums and assets in GDP indicates that the development of the insurance market has little impact on the country's economy. There is a gradual growth of the market in 2023 by key indicators. Insufficient capitalization of the domestic insurance market, a large share of compulsory insurance in insurers' portfolios, low level of life insurance development, and economic crisis are currently having a negative impact on the development of insurance companies' investment activities. The author outlines the main areas of investment activity for the near future, which are to activate the financial market in order to use a wide range of investment instruments, improve the quality of the investment portfolio and optimize its management by transferring part of the insurance reserves to trust management, and encourage insurance companies to invest in the real sector of the economy. It is important to strictly adhere to the principles of building an investment management system based on high investment liquidity, return on investment, strict liquidity restrictions, and sensitivity to changes in interest rates and profitability. All of this will help strengthen the investment potential of the insurance market, turn it into an important investor in the national economy, and increase the profitability of insurance companies' investments, in particular. In addition, the development of voluntary insurance, including long-term life insurance, the development of new competitive insurance products, the search for new and improvement of existing sales methods, the expansion of the regional network, and the widespread use of digital technologies are considered promising.

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