ESTIMATION OF INSURANCE COMPANIES INCOME IN THE INSURANCE SERVICES MARKET OF UKRAINE
DOI:
https://doi.org/10.31713/ve120209Keywords:
insurance companies, insurance services market, income, insurance activity, investment activity, financial activity, operating activity, factor analysis.Abstract
The article analyzes the general state of the domestic insurancemarket. It is determined that the market of insurance services of Ukraine is characterized by a high share of companies of general insurance. There are three groups of income of insurers: income from insurance activity(insurance premiums on insurance and reinsurance); income from investing and placing temporarily free funds (own and insurance reserves); other income (is in the process of its normal economic activity).Based on the annual financial statements of three insurance companies – market leaders: LLC «Insurance Company «AХA Insurance»;LLC «Insurance Company «PZU Ukraine Insurance Company»; LLC«Insurance Company «Universalna Insurance Company» made an estimate of their income. The composition and dynamics of the income from insurance, financial and investment activities of the three insurancecompanies selected for analysis were analyzed. It is established that among the analyzed companies the maximum amount of the total income has LLC «Insurance Company «AХA Insurance»; income from insurance business occupies the maximum share of all income of insurance companies.Factor analysis of the income of the analyzed insurance companieswas carried out: the maximum impact on the growth of the total income of AXA Insurance was realized by the income from insurance activity – UAH 427856 thousand. The total impact of all factors is UAH 578709 thousand; from total revenues of PZU Ukraine for 506198 thousand UAH caused by the growth of income from insurance activities of the company, the increase in investment and financial activity – caused the growth of total income by 8771 thousand UAH, and income from other activities – by 35 799 thousand UAH. Total revenue growth of PZU Ukraine for the period from 2017 to 2018 is 550768 thousand UAH growth of total income «Universal» by 380984 thousand UAH caused by the growth of income from insurance activities of the company, the increase in investment and operating activities – caused the growth of total income by UAH 2601 thousand, and income from other activities – by UAH 15226 thousand. The total revenue growth of «Universalna» for the period from 2017 to 2018 is 398811 thousand UAH.References
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