Integral estimation of financial security level of insurance market of Ukraine

Abstract

We have examined the content and integral parts of financial security of the country. Moreover, we have determined and analyzed main economic indicators of the financial security level of the insurance market of Ukraine and their threshold amounts according to the legislation in force. We have investigated the level of the financial security of the insurance market of Ukraine  with the use of two methods of integrated indexes calculation, such as: analytical method and graphic method. In such a manner, we have explored main advantages and disadvantages of integrated indexes usage for estimation of insurance market financial security level. Investigation  results showed general reduction of the insurance market activity throughout 2008-2011 and  gradual increase of activity throughout 2012-2013, whereas Ukraine´s insurance market financial security level quite low, which makes it more vulnerable to internal and external threats. We have noted significant volatility of processes occurring on the market, which complicates the forecasting of the future situation on the market. Results of investigation can be used for further studying of economical processes on the insurance market of Ukraine and elaboration of strategies of its development.