Abstract
The object of research is the European insurance environment, which unites the national insurance markets of European countries, including Ukraine, and has significant regional development differentiation. One of the most problematic places for the development of the European insurance environment is the reduction of the influence of countries on their financial system and the non-permanent nature of development, where the law of uneven economic development manifests itself through various prerequisites for the functioning of national insurance markets. The current state of the Ukrainian insurance market are analyzed through quantitative indicators (the number of insurance companies, the dynamics of insurance premiums, the structure of net insurance premiums by type of insurance) and also because of the quality indicators (political, economic, social and technological components of the external environment). With the help of classical general scientific research methods, statistical processing methods, PEST analysis, the index method and the Pareto principle, it is found that the functioning of the insurance market of Ukraine at the present stage does not have a stable growth dynamics. This is due to a number of political, economic, social and technological factors affecting the external environment. Thanks to the selected indicators, an index of prerequisites for the functioning of the European insurance environment is calculated with the aim of further developing a mechanism for attracting Ukraine to the global insurance environment. The ranking of the countries of the European Union and Ukraine according to the state of development of the insurance environment is carried out and its differentiation is revealed. This is due to the fact that all components of the insurance environment are in close relationship. The increase in the volume of monetary savings of the population and free funds of enterprises contributes to the expansion and revitalization of the credit market and the securities market. And the issue of securities reduces the need for financing the economy through loans and accumulates temporarily free funds of investors.
Highlights
In world practice, the insurance market is a catalyst for significant financial resources, which helps countries provide protection for the population, reduces the burden on the state budget in the event of natural disasters, and stimulates entrepreneurial activity by insuring com mercial risks
MACROECONOMICS: One of the most problematic places for the develop ment of the European insurance environment is reducing the influence of countries on their own financial system, while increasing the influence on national economies of supranational entities and international companies
The following scientific methods are used: – cluster general scientific research methods – when studying the insurance market of Ukraine at the present stage of development and identifying indicators to assess the prerequisites for the functioning of the European in surance environment; – PEST analysis – in determining the factors influen cing the external environment on the insurance mar ket of Ukraine through political, economic, social and technological components; – index method – when calculating the index of pre requisites for the functioning of the European insurance environment; – Pareto principle – when ranking the European Union (EU) countries and Ukraine according to the state of development of the insurance environment
Summary
The insurance market is a catalyst for significant financial resources, which helps countries provide protection for the population, reduces the burden on the state budget in the event of natural disasters, and stimulates entrepreneurial activity by insuring com mercial risks. In Ukraine, the insurance market does not fulfill these functions due to its underdeve lopment and the lag behind the insurance markets of more developed countries. The functioning of a highquality and full-fledged insurance market is an impor tant condition for increasing the country’s sustainable economic and social growth; the features and prerequisites for its development should be prioritized in government policy, given its European integration guidelines. The study of the prerequisites for the functioning of the European insurance environment, the identification of its regional differences is highly relevant
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