Assessment of the financial stability of the Russian life insurance model

Abstract

Life insurance is one of the effective mechanisms of protection against social risks. This product can protect a person in case of disability, provide medical care, increase cash savings. In Russia, in the context of a decrease in the financial capabilities of the state, fragmentation and unsystematic decision-making in the field of life insurance regulation, fundamental changes are being made in the life insurance system. A natural consequence of this situation was a downward trend in some indicators of the development of the Russian life insurance model. The research purpose is to assess the financial stability of the life insurance model used in Russia. As a result of the study, the features of the Russian life insurance model were revealed and its strengths and weaknesses, challenges and threats were identified on the basis of a SWOT analysis; the main factors influencing the balance of financial flows of the Russian life insurance model were identified; an assessment of the financial stability of the Russian life insurance model was carried out.