• Olha Kryvytska
Keywords: competition, life insurance company, insurance market, monopolization, ranking score


The article investigates approaches to determining the level of competition in the life insurance market, depending on the types of interested persons. The author proposes to separate three groups of interested persons - Anti-Monopoly Committee and other regulatory authorities; life insurance companies directly; insurers and potential insurers. Stages of Anti-Monopoly Committee activities concerning determination of the monopolization influence on the level of competition in the life insurance market are described . The market share of life insurance companies in Ukraine is analyzed based on gross insurance premiums. It is determined that life insurance market is characterized by instability in the maintenance of leadership positions among companies operating on it. The author proves the absence of monopolization in the life insurance market of Ukraine. The analysis of market’s monopolization influence on competition restriction bases on Herfindahl-Hirschman index.
An estimation of the competition level from the position of the controlling institutions was made, and it was found that the internal life insurance market is not concentrated. It is proposed for companies to determine competitive position in the life insurance market on the basis of ranking score which depends on such indicators as the amount of bonding premiums, the volume of assets of insurers, the amount of equity capital, the investment income, the volume of formed insurance reserves and insurance payments.
It is recommended to use a rating model, based on a multiplicative approach.
Concerning the insurance companies interested in determining their strategic priorities for further development, improving of competitive position on the market and improving of their rating position, it is recommended to use the model of rating assessment which is based on a multiplicative approach. The emphasis is put on the fact that for life insurance companies an important indicator of effective functioning is the level of competitiveness in the insurance market. In the proposed model, the value of such level is expressed in terms of the weight factor ki, which is the weighted average geometric ratio of the market share of the investigated company хіj for this type of services to the share of the company which is a leader on the market, and occupies the largest share of the market for the implementation of these services in relation to each indicator.
Three leaders of the life insurance market in Ukraine are identified: «TAS», «Grave Ukraine Life Insurance» and «Metlife».