The Place of the Association of Insurance and Reinsurance in the Warta SA Property Insurance Market

2015 ◽  
Vol 3 (11) ◽  
pp. 23-25
Author(s):  
Jerzy P. Gwizdała
Keyword(s):  
Insurance Market ◽  
Property Insurance

scholarly journals Directions in the Development of Commercial Insurance in Poland and Lithuania

2014 ◽  
Vol 17 (1) ◽  
pp. 145-165
Author(s):  
Justyna Witkowska ◽  
Aušrinė Lakštutienė
Keyword(s):  
Life Insurance ◽  
Motor Vehicle ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Market ◽  
Commercial Insurance ◽  
Property Insurance ◽  
Group 3 ◽  
Motor Vehicle Insurance ◽  
Insurance Data

This article analyses trends in the development of the commercial insurance market in Poland and in Lithuania over the last decade. The insurance market changed in the 2002-2011 period. Those changes can be seen in various fields of commercial insurance. Data on the number of insurers, total premiums written, and the trends in claim payments and claim ratios were used to perform a market trend analysis. It should be emphasized that Poland experienced the results of the financial crisis in the insurance market later than Lithuania, which is visible in specific ratios under analysis. In Lithuania, in terms of insurance expenditures, non-life insurance products are definitely more popular, while in Poland life insurance plays the most important role. Poles buy most life insurance from group 1, and Lithuanians from group 3. In the case of non-life insurance, motor vehicle insurance (third-party liability insurance and casco (collision/personal liability insurance)) and property insurance are the leading forms of insurance purchased by both Poles and Lithuanians, as well as other Europeans.

scholarly journals ANALYSIS OF COMPETITIVE POSITIONS OF INSURANCE COMPANIES IN THE NON-LIFE INSURANCE MARKET IN UKRAINE

2019 ◽  
pp. 88-94
Author(s):  
O. Pakhnenko ◽  
O. Zhuravka ◽  
V. Podhorna ◽  
A. Sukhomlyn
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Motor Vehicle ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Premiums ◽  
Property Insurance ◽  
Financial Condition

The paper explores the practical aspects of forming a competitive environment in the non-life insurance market of Ukraine and analyzes the competitiveness and financial performance of leading insurance companies. Based on the analysis of non-life insurance market concentration indicators, the authors concluded that there is no clear leader in this market, the level of market concentration is negligible. Based on the analysis of non-life insurance market leaders by volume of gross insurance premiums in the whole market and by main types of non-life insurance (CASCO, motor vehicle liability insurance, property insurance, fire and catastrophe risk insurance, CARGO, health insurance) the authors found that the leadership of insurance companies in the market does not mean their leadership in all types of non-life insurance; some insurance companies specialize in certain types of insurance and not being leaders in the insurance market at all occupy leading positions in certain segments of non-life insurance market. In order to provide a general assessment of the competitiveness of individual insurance companies in the non-life insurance market, the following indicators were selected: the volume of gross insurance premiums, gross insurance payments, insurance reserves and the amount of equity. In order to assess the size of market share of an individual insurance company in a more objective way, it is suggested to calculate the average share of the insurance company. The calculations made it possible to identify the leaders of the non-life insurance market in 2018 and to explore the dynamics of changes in their competitive position during 2016-2018. For the three insurance companies that have been identified as the leaders of the Ukrainian market non-life insurance in 2018 (“UNIKA”, “AXA Insurance” and “PZU Ukraine”), the authors analyzed the main indicators of their financial condition, namely the profitability of insurance services, profitability of sales, return on assets, return on equity, overall liquidity, absolute liquidity and autonomy. It was found that all the analyzed insurance companies are profitable, however, among the three leading Ukrainian insurance companies, the most effective in 2018 was the insurance company “PZU Ukraine” and the least profitable – “UNIKA”. Keywords: competitiveness, insurance company, market concentration, market share, competition.

STATE OF CONCENTRATION AND MONOPOLIZATION OF THE INSURANCE MARKET OF UKRAINE

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 10-18
Author(s):  
Anna Novoseletska
Keyword(s):  
Life Insurance ◽  
Insurance Market ◽  
Insurance Companies ◽  
Market Development ◽  
Property Insurance ◽  
Insurance Group ◽  
Key Indicators ◽  
Risk Insurance ◽  
Financial Groups

The intensity and quality of insurance market development are directly related to the level of competition, concentration and monopolization between insurance companies. Although the insurance market of Ukraine is insignificant in terms of key indicators in comparison with foreign ones, the competitiveness of its insurers is very important to ensure proper insurance protection of policyholders. The article is devoted to the assessment of the processes of concentration and monopolization of the insurance market of Ukraine. The study analyzed the structure of the insurance market by segments, concentration indicators and the Herfindahl-Hirschman index for the market as a whole and for individual types of insurance, gradation of insurance companies by the amount of collected insurance premiums. Based on the assessment, it was determined that the insurance market of Ukraine is generally low concentrated, as well as the sector of risky types of insurance. Among the selected segments of the insurance market, the most concentrated is the CASCO insurance. In the field of health insurance there is a slightly lower level of concentration and monopolization as in the OTSPVVNTZ segment. The market of classical property insurance is the least concentrated. The life insurance segment is characterized by moderate concentration and monopolization. The most powerful insurance companies in the relevant sectors of the insurance market of Ukraine are outlined. Since 2015, the top three leaders of the life insurance market are PJSC “MetLife”, PJSC “Insurance Group TAS” and PJSC “IC UNIСA LIFE”. Virtually unchanged leaders in the field of risk insurance during 2018-2020 were PJSC “IC ARX”, PJSC “IC UNICA” and PJSC “Insurance Group TAS”, which are members of financial groups that include leaders of the life insurance market. In general, the national insurance market is becoming more concentrated, which will be appropriate and accepted benefits while strong market players will not involve their residents, and the state controls these processes.

FINANCIAL POTENTIAL OF THE INSURANCE MARKET: THEORETICAL AND PRACTICAL ASPECTS OF DEVELOPMENT

2021 ◽  
pp. 76-135
Author(s):  
Liudmyla Chvertko ◽  
◽  
Yuliia Melnychuk
Keyword(s):  
Government Regulation ◽  
Well Being ◽  
Legal Framework ◽  
Insurance Market ◽  
Sustainable Business ◽  
Property Insurance ◽  
Investment Projects ◽  
The Public ◽  
The Stability

The insurance market in each country is an indicator of the economy and sustainable business development. When the stability and well-being of a country reaches a certain level, both workers and employers begin to think about their future, to ensure their old age, to finance the risks that exist in everyone’s life, property insurance, and so on. The rapid aging of the world’s population is depleting the financial capacity of citizens, leading to low levels of health care and pensions. Insurance makes it possible to provide daily human protection – both today and in the future. This leads to two effects – the state has additional long-term funds that provide financing for investment projects, which contributes to the further development of the country’s economy; citizens receive insurance protection, savings for future periods, and thus – protection of human interests. The insurance market in Ukraine is at the stage of constant formation. The main obstacles and problems of its development are the unstable socio-economic situation at the present stage and the peculiarity of the cultural and historical traditions of Ukrainian society, the problems of the COVID–19 pandemic and unstable economic development. Therefore, even with significant changes in the legal framework, the insurance market is quite weak in the economy and requires changes in government regulation, namely: strengthening legal and economic mechanisms to protect the interests of the insured and encourage the public and employers to conclude contracts; improvement of investment and credit legislation, directions and spheres of activity of the insurer.

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