Abstract
The paper examines the theoretical and practical aspects of mega-regulation of the insurance market in Russia. The author has made an attempt to identify the main trends in improving the activities of the Bank of Russia as a mega-regulator in the insurance market of Russia.The article provides an overview of the interpretations of the term "mega-regulation" in the works of Russian and foreign economists. A comparative analysis of the main indicators of the development of the insurance market in Russia and Kazakhstan, such as the fulfillment of basic prudential standards by Russian and Kazakh insurers and the number of insurance organizations, insurance brokers and actuaries; an analysis of relative indicators: the return on equity of insurers and indicators of financial stability of insurers in both countries. Based on the analysis, the peculiarities of the regulation of the insurance market in Russia and Kazakhstan were identified and ways to improve the regulator in both countries were proposed.
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