Articles by : Shirinyan L. № 4/2011
Economy under the conditions of modern transformations
SHIRINYAN L. 1
1National University of Food Technologies (Kyiv)
Influence of the size of Ukraine’s insurance companies on their performance and distribution on the market of insurance services
| Ekon. prognozuvannâ 2011; 4:97-105 | |
ABSTRACT ▼
The author, for the first time, puts forward and proves the hypotheses of the influence of the size of domestic insurers on their performance. The distributions of the macroeconomic in-dexes of the insurance market are shown. Correlation-regressive equations for the premium volumes are obtained, as well as those for statutory capital, business activities in the insur-ance sector, and the net income. Dependence on the size of assets for the small insurers appears to be greater than that for the large ones. For the first time, the author shows the existence of an area of high return on assets and the interval where, with the increase in the insurer’s size, the return on assets decreases.
Keywords:size of assets, premium, efficiency of activities, return on assets.
| Article in Ukrainian (pp. 97 - 105) | Download | Downloads :529 |
REFERENCES ▼
1. Vnukova N.M, Chernyshov S.I, Sokil S.V. Otsinka aktyviv strakhovykh kompaniy, Finansy Ukrainy, 2002, T. 4, S. 126–132.
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11. Ukraina , business: finansovo-ekonomichnyi tyzhnevyk, Derzhfinposlug Ukrainy, K., (2004–2011 pp.).
№ 4/2015
Economy under the conditions of modern transformations
SHIRINYAN L. 1
1National University of Food Technologies (Kyiv)
Financial provision of preventive measures in insurance
ABSTRACT ▼
Preventive measures in insurance are interpreted as a set of measures related to reducing the degree of risk of the insurance object, and averting or decreasing the negative impact of possible insurance accidents on the insurance market participants. The implementation of the preventive function is based on the use of such tools as: payments to the purpose funds and reserves for preventive measures, targeted grants from the state budget, state subsidies and purpose assistance. On the Ukrainian insurance market these tools are not implemented and the problem needs to be discussed. In this study, we propose financial providing for preventive measures through a compulsory fund based on public-private partnership. Calculation of the annual contributions to such a public-private fund for preventive measures gives an estimated value of about 160 million hryvnias per year. It has also been offered that each insurer should create his own reserve of preventive measures or should contribute to the fund of insurance guarantees and preventive measures created on the level of insurers' associations in order to prevent loss events and to ensure the return of deposits to depositors of bankrupted insurance companies.
Keywords: preventive measures, financial provision, public-private fund, cash forecasting, factors of influence on the market participants
JEL: C13, С40, С53, E02; G17, G22, G23; L22
| Article in Ukrainian (pp. 69 - 80) | Download | Downloads :686 |
REFERENCES ▼
1. Shirinyan, L. V. (2014). Financial regulation of insurance market of Ukraine: theory and practice problems. Kyiv: Vydavnytstvo "Tsentr uchbovoi literatury" [in Ukrainian].
2. Law of Ukraine "On implementation of changes of Law of Ukraine "On Insurance"", dated 04.10.2001 No 2745-III. Retrieved from
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3. Baranova, V. H. (2010). Financial mechanism of the insurance system of Ukraine: problems of function and development. – manuscript. Dissertation on the receipt of scientific degree of doctor of economic sciences after specialty 08.00.08 – Money, Finances and Credit. Odesa: Odessa State Economic University [in Ukrainian].
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13. The official website of the National Commission for State Regulation of Financial Services Markets of Ukraine. Retrieved from
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№ 2/2018
Economy under the conditions of modern transformations
SHIRINYAN L. 1, SHIRINYAN A. 2
1National University of Food Technologies (Kyiv)
21) Teaching-Scientific Center of National Academy of Sciences of Ukraine (Kyiv); 2) National University of Food Technologies (Kyiv)
Penetration of insurers with foreign capital in the insurance market of Ukraine
ABSTRACT ▼
The purpose of the article is to investigate the degree of penetration of insurance companies with foreign capital (IFC) into the insurance market of Ukraine and to identify trends in the openness indexes of the Ukrainian insurance market in modern conditions.
The main argument for the presence of foreign capital is the improvement of the quality of service provision and the impact on GDP change rate. On the other hand, the question correlates with the problem of financial security of the market.
The paper deals with the IFCs activities of in 2007-2017 and uses the author's methodology of the complex estimation of market openness based on the coefficients of market openness by the number of IFCs, by the foreign capital, by assets, by the volume of insurance services, by reinsurance operations, by import and export of services; and by the coefficients of concentration and insurance penetration.
It is revealed that most IFCs have foreign capital from Cyprus, Austria, the United Kingdom, the Netherlands and they are the leaders in terms of insurance premiums and insurance payments. Data show that the value of gross premiums, volumes of export and import of insurance services, given in US dollars, have been significantly decreasing. It is shown that the numbers of Ukrainian insurance companies and IFCs after 2008 decreased each year.
It is estimated that the insurance market after 2014 became open and strongly dependent and in terms of import and export - closed and autonomous. It is obtained that by the number of IFCs, by the share of foreign capital and in terms of reinsurance, Ukraine's insurance market is optimally open when national benefits are secured.
A detailed analysis showed that the concentration for the first three IFCs is about 9.22%, which indicates an absence of monopolization by the IFCs, although in recent years the concentration tends to increase. The value of insurance penetration for the IFCs is low, nearly 0.56%, which indicates the actual absence of the influence of the IFCs activities on GDP formation.
Keywords: insurers with foreign capital, penetration, openness of the market, concentration, capacity of insurance, foreign capital, reinsurance
JEL: D 40, E 44, F 36, G 22, L 12
| Article in Ukrainian (pp. 76 - 90) | Download | Downloads :694 |
REFERENCES ▼
1. Baglyuk, Yu.B. (2010). Insurance market of Ukraine in the modern integration process. Visnyk Hmelnitskogo Natsionalnogo Universitetu – Bulletin of the Khmelnitsky National University, 4 (3), 108-111 [in Ukrainian].
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15. Shirinyan, L.V., Shirinyan, A.S. (2017). Methodology for a comprehensive assessment of a market openness of the banking and insurance services in Ukraine. Ekonomika Ukrainy – Economy of Ukraine, 12, 24-30 [in Ukrainian].
16. The order of the Antimonopoly Committee of Ukraine dated March 5, 2002 No 49p. "On approval of the Methodology for determining the monopoly (dominant) position of business entities in the market". Retrieved from
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