THEORETICAL-METHODICAL APPROACHES TO THE ANALYSIS OF FINANCIAL RESULTS OF INSURERS ACTIVITY IN UKRAINE

Abstract

The informational and methodological problems of the insurance market functioning in Ukraine are identified and a comprehensive method for analyzing the financial results of the insurers activity is offered. The dynamics of insurance companies' financial results formation in Ukraine is analyzed, factors determining the main tendencies of their effectiveness are determined. The directions for the improvement of the existing insurance activity taxation system are outlined with the aim of balancing interests of the state and insurers.
Nowadays the Ukrainian insurance market is characterized by a number of negative trends that require immediate change. Among them: low level of insurance companies' capitalization, loss-making insurance activity, double taxation of insurers, ineffective investment activity, underdeveloped insurance culture, high level of insurance payments, non-fulfillment of insurance obligations, etc. Such negative aspects make it impossible to reflect the realities of the insurers effectiveness and trends in terms of effective regulation of processes in the market, reduce the degree of transparency and competitiveness of the insurance market, impede the provision of effective insurance protection.
The problem of domestic insurance market formation and its modern trends development requires a thorough and high-quality analysis of the main processes effectiveness, taking into account the methodology of financial results formation by types of activities of insurance companies and their application in practical terms.