Yukhymenko V. Ensuring solvency of insurance companies in Ukraine

In the thesis, theoretical approaches were improved and practical recommendations developed to ensure the solvency of domestic insurance companies. The economic interpretation of the categories "solvency of insurance companies", "liquidity of insurance companies" and "financial stability of insurance companies" are clarified. A wider explanation of the “solvency of insurance companies” concept is suggested to include not only insurance, but also other obligations of the insurer in its insurance, investment, and financial activities. The outcomes determine that depending on what basics lies in the term of "financial stability" and "solvency" of the insurers they are identical or not. Solvency refers to the ability of an insurance company to fulfill its obligations over a period. Financial stability differs from the concept of solvency from the point of ability to fulfill obligations at any moment of time. The notions of "financial stability" and "solvency" are identical if solvency defines as the ability to fulfill obligations not only in the current but also in all subsequent periods. The key factors influencing the solvency of insurance companies are identified from the point of view of the possibility to regulate these influences at the level of the insurance company. The thesis gives widespread characteristics of the current state of solvency level of insurance companies in Ukraine and disclosure the problems of ensuring their solvency.