Stimulating and limiting factors for the growth of investment potential of Ukrainian insurance companies

Cherkasova, S. V.; Kalaitan, T.; Rushchyshyn, Nadiia; Yaremko, Igor; Yaroshevych, Natalya

doi:10.21511/imfi.17(1).2020.08

Cited by 6 publications

(5 citation statements)

References 19 publications

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“…Transparency and public disclosure have become crucial in ensuring financial stability and restoring consumer confidence after the 2008 financial crisis, which exposed weaknesses in risk management and regulatory transparency in the financial sector (Vasilyeva et al, 2013;Vasylyeva et al, 2014). In the insurance market, effective public disclosure provides investors and policyholders with a better understanding of the financial condition and risk profile of insurance companies, thus contributing to overall market transparency, improving the competitive environment, and facilitating more effective regulation and supervision (Cherkasova et al, 2020;Lyeonov et al, 2023). This, in turn, helps protect the interests of policyholders and contributes to overall financial stability.…”

Section: Literature Reviewmentioning

confidence: 99%

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Insurance market transparency research trends: Bibliometric analysis

Kuzior,

Zakharkina,

Kubaščikova

et al. 2023

Insurance Markets and Companies

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Transparency is a fundamental necessity for the insurance market in the modern fast-changing and digital world. The study aims to establish, based on bibliometric analysis, the research trends and subject areas of the insurance market transparency, including the impact of digital technologies, regulatory initiatives, and the internal policies of insurance companies. A bibliometric analysis of papers published in the journals indexed by the Scopus database for the years 1988–2023 was conducted to achieve this goal. Five clusters have been identified based on the analysis of the shared use of keywords, demonstrating the multidisciplinary nature of the research subject. They cover government regulation and risk management; ethics; technological innovations in increasing transparency; transparency of prices and costs in health insurance; and state medical insurance transparency. The analysis of insurance market transparency trends has allowed identifying four key stages of development: post-crisis regulatory mechanisms (2013–2016), Solvency II regulation effectiveness (2017–2019), transparency during the pandemic (2020–2021), and the impact of digital innovations since 2021. Spatial clustering made it possible to identify five groups of countries whose representatives are co-authors of research on insurance market transparency. The leading countries in research on insurance market transparency are the USA, the UK, and Germany. AcknowledgmentThis research was funded by the Ministry of Education and Science of Ukraine (projects No. 0122U000774 “Digitalization and transparency of public, corporate and personal finance: the impact on innovation development and national security”, No. 0123U101945 “National security of Ukraine through the prevention of financial fraud and money laundering: war and post-war challenges”). This research was funded under the research subsidy of the Faculty of Organization and Management of the Silesian University of Technology in Poland for the year 2023 (13/990/BK_23/0178).

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Section: Literature Reviewmentioning

confidence: 99%

“…, South Korea (12), Austria (11), South African Republic (11), Sweden (11), and Poland (10). In other countries, the number of publications for the analyzed period did not exceed 10.…”

Section: Medicaid Is An Assistance Program In the Unitedmentioning

confidence: 99%

Insurance market transparency research trends: Bibliometric analysis

Kuzior,

Zakharkina,

Kubaščikova

et al. 2023

Insurance Markets and Companies

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“…fully involve the well-known world practice mechanisms for external limitation of investment risks [2]. This greatly inhibits the inflow of foreign investments, in particular in environmental activities.…”

Section: It Was Established That a Significant Part (About 70 %) Of The "Environmental" Funds Of The Public Economy Sector Is Directed Tomentioning

confidence: 99%

Analysis of state of public financing of environmental protection

Yaroshevych

Stybel

Gutyj

et al. 2021

EEJET

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The main task of this study consists in evaluating the state of funding for environmental protection measures and substantiating the ability of the state and local communities to increase investments in environmental protection. To this end, the following was studied from 2010 through 2020: 1) mechanisms of filling and using funds of the Environmental Protection Fund of state and local budgets; 2) proportions of distribution of environmental revenues and expenditures between levels of the budget system. The analysis results showed that opportunities of the public economy sector in terms of environmental investment are reduced because of imperfect distributing mechanisms: ‒ the budgetary expenditures for environmental protection measures; ‒ the environmental tax revenues to the budget funds. It was established that a significant part (about 70 %) of the "environmental" funds of the public economy sector is directed to non-priority goals and measures. Less than half of the amount of environmental tax revenues is allocated for financing environmental activities. This does little to address pressing environmental issues and hinders the sustainable development of the country. There was a significant discrepancy between the tax burden on "polluters" of water bodies (3 % of the total amount of environmental tax) and the levels of their polluting activities (30‒40 % of all costs of the national economy to eliminate the effects of pollution). In order to increase public investments in the reproduction of the environmental and natural resource potential: 1) ways to improve the mechanism of using the Fund of Environmental Protection were proposed; 2) reserves for increasing capital environmental investments from the budget have been identified.

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“…Some of the internal factors include; company size, debt ratio, underwriting risk, premium retention etc while external factors oftenly constitute of the macroeconomic factors that are defined as factors that are outside the company but have a significant influence on the increase or decrease of the company's performance both directly or indirectly. They include; economic growth, inflation, exchange rates, interest rates, money supply etc (Cherkasova et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Influence of Macroeconomic Factors on the Growth of the Insurance Industry

Kajwang¹

2022

IJECON

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Purpose: The purpose of this study was to examine the influence of macroeconomic factors on the growth of insurance industry in Kenya. Materials and Methods: The main research approach used in this study relied on review of previous studies related to the study topic. This involves the use of secondary data obtained from institution records, government publications, historical and statistical records etc. This type of data is frequently chosen since it can be conveniently accessed and reduces the need for field research. Therefore, this study will rely heavily on already published studies, journals and annual records of insurance companies in Kenya to obtain secondary data that will be used to draw the results, conclusion and recommendations of the study. Findings: The findings from the empirical studies were found to have conceptual, contextual and geographical gaps. This is because most of these studies discussed on either internal factors or both internal and macroeconomic factors influencing the performance or profitability of insurance companies. The findings of these studies were also limited to a few measures of growth of insurance firms. In addition, most of the empirical studies were not carried out in Kenya. Hence, the findings of these studies may differ due to the different governing systems used by different countries that also affect the operations of insurance companies. Unique contribution to theory, practice and policy: This study will be of great benefit to the different stakeholders in the insurance sector in Kenya. The management of the insurance companies will gain a broad understanding of the numerous macroeconomic factors and how they impact the performance and profitability of insurance firms. The policymakers in the insurance industry will also benefit from the suggestions and recommendations given on measures and policies that can be used to reduce the adverse effects of macroeconomic factors on the growth of the insurance industry. The findings of the study can also be used as a reference point to identify the macroeconomic factors that have a positive influence and those with a negative influence on the development of the insurance industry. Further, this study will also be relevant to the different researchers and academicians since the study's findings will be incorporated into their body of literature and act as a basis for their empirical studies. On the other hand, the scholars may also be motivated to carry out additional research in order to improve on the theories used in this study and fill any identified research gaps.

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Stimulating and limiting factors for the growth of investment potential of Ukrainian insurance companies

Cited by 6 publications

References 19 publications

Insurance market transparency research trends: Bibliometric analysis

Insurance market transparency research trends: Bibliometric analysis

Analysis of state of public financing of environmental protection

Influence of Macroeconomic Factors on the Growth of the Insurance Industry

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