In thesis the theoretical approaches of insurers’ financial stability have been
determined and represented in the author's definition as a characteristic of the company's
financial, investment, reinsurance activities, based on the profile risks on its balance,
and non-profile risks in the general business, adopted in accordance with regulatory
and situational requirements and provided a guarantee for customers and counterparties
insurer in coverage questions.
It has been provided the structural-decomposition analysis of the conceptual
principles of the insurer’s risks as the possibility of aleatory, economic or financial
transactions leading to potential losses or non-receipt of income and require an early
response and development of the adaptive capabilities of insurer’s management in
order to achieve the financial stability. It were proposed approaches which have advantages both like determination of the insurer’s possibility of risks coverage with
non-tariff methods, and secondly, focusing the management attention on the risks that
have the greatest concentration of influence. It has been analyzed the current practice
of companies' activity on Ukrainian insurance market which can identify risk factors
for the financial stability of insurers. It has been provided the classification characteristic
of insurance companies’ risks as the key factor and obstacle to ensuring its financial
stability and it has been justified the expediency of isolating additional types of risks:
transactional risks, risks associated with premium customers service and the risks of
destabilization of financial stability that are relevant in the actual time interval.
It has been suggested the conceptual-categorical basis of the risk of destabilizing
financial stability, which revenue the acquisition of the last state of impossibility
to fulfill its obligations in a number of destructive factors (blocking the resources on
reserve funds on bank’s accounts, destabilization of incoming and outgoing cash
flows, etc.). It has been considered the specifics of transactional risks-management
while financial operations with foreign economic activity which involve insurance
companies (risks arising in the process of foreign economic transactions) and preventive
measures for their minimization based on the creation of financial reserves have
been determined. It has been researched the methodological toolkit for constructing
of insurers’ systemic risk evaluation indicators within their values establishment in
order to prevent their influence on the financial stability. The variety of risks has been
observed while insurer’s service organization of premium customers, which include
non-traditional requests and the usage of unique solutions. It has been proposed an
algorithm of marking the attractiveness of current insurer for premium segment customers,
which provides the identification features, calculations, determination of the
their service strategy and the formation of proposals for cooperation. It has been justified
the risk-management improvement while the planning of insurer’s activity in the
framework of ensuring its financial stability and the scientific-methodical approach to
the interpretation, rating and graduation of risk zones with the greatest concentration
of influence on the company. The usage such approach, as interaction to the dominant
in practice, allows insurer to obtain a statistic information base for making managing
decisions and to implement preventive measures of prevention the worsening of their
financial stability. It has been proposed the structural-componental approach to forecasting
the effectiveness of insurance operations and their impact on financial sustainability,
based on: simulation modeling of behavioral strategies for managing the
profile and non-core insurers risks; rebuild of mathematical variational model for assessing
the effectiveness of counteracting risks, depending on their influence level;
development of measures for reengineering business processes in accordance with
strategic objectives and actual risks in a current period of time. Such approach, unlike
existing ones, makes it possible to level out the likelihood of accepting contracts with
a high level of unpredictable risks in the insurer’s portfolio.
