Abstract
Today, insurance is a source of enrichment for the state's economy, not just an instrument of financial protection. The article examines the essence of life insurance and the relevance of life insurance in Ukraine. Life insurance is insurance that protects the property interests of the insured person related to his life and death. In order to insure the life of any person, you need the presence of insurance interest in it from the insured. The analysis of the insurance market is investigated. The insurance market showed a moderate increase in the volume of eligible assets and insurance reserves. At the same time, the assets of life insurers are constantly growing, despite the corona crisis. As for the assets of Non-life insurers, there is a slight reduction. The volume of total assets of insurers, the structure of accepted assets, insurance premiums and insurance payments of insurance companies, the amount of paid insurance payments are analyzed. The structure of eligible assets consists of more than 50% of bank deposits. This is due to both profitability and a detailed study of the supervision of the encumbrance and availability of such deposits and not including them in eligible assets. Stably high share in eligible assets belongs to real estate, which is partly represented by land and residential real estate, which are regularly revalued. The life insurance market is not large and has a high concentration, so a list of the largest risk insurers by gross premiums, life insurers by premiums, life insurers by benefits. At the same time, at the moment there are a number of problems in the Ukrainian insurance market that do not allow this type of activity to develop at the same level as in developed countries. The solution of the selected problems is possible only by combining the efforts of the state and insurance companies. A number of necessary measures have been proposed to increase the efficiency of life insurance in Ukraine. Namely: to enable insurance companies to participate in solving social problems, the state should increase the requirements for insurance companies and the necessary interesting and attractive insurance programs that would meet the needs of the population, would respond to new social problems.
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