Lunkina Tеtiana, Doctor of Economics, Professor of the Department of Finance, Banking and Insurance, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0001-7252-3239
e-mail: lunkina_tanya@i.ua

Feshchenko Yana, graduate of the accounting and finance faculty, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

e-mail: yaaanulya1412@gmail.com

Insurance Activity in Ukraine on the Example of an Insurance Company

Abstract. Introduction. The article analyzes the state of the insurance company PJSC «SK Arsenal Strahuvaniya», examines the economic processes directly related to the conduct of insurance activities. Institutions and organizations of which JSC “Arsenal Insurance” PJSC is a member have been considered, and its main competitors on the domestic insurance market have been singled out.

Purpose. The purpose of the article is to conduct an analysis of the company, which is being studied according to the main economic indicators, and to develop practical recommendations for improving the efficiency of its activities on the market of Ukraine.

Results. Analytical data reflecting the net financial results of the insurance company for 2017-2021 are given. The general dynamics of insurance payments received and insurance payments made by this insurance company were analyzed. The rating of Arsenal Insurance PJSC for the first half of 2022 among other insurance companies of Ukraine in terms of capital, retained earnings, gross insurance premiums and the amount of insurance payouts has been determined. The dynamics of retained earnings of the insurance company for 2017-2021, which characterizes the efficiency of the business entity, were analyzed.

Conclusions. The strengths and weaknesses of the insurance company’s activities are highlighted, as well as its potential opportunities and threats using a SWOT analysis. It was found that the insurance company “Arsenal Insurance” is a powerful player on the insurance market of Ukraine and has valid licenses to provide financial services for more than 30 types of insurance. The company works to be not just among the best, but to be a leader in the insurance market and provide the highest quality service.

Keywords: insurance; insurance activity; insurance premiums; insurance payments; reinsurance; types of insurance; profit; equity; SWOT analysis.

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