Comparative assessment of competitiveness of ukrainian and foreign insurance companies

Demianchuk Maryna
Doctor of Economic Sciences, Associate Professor Professor of the Department of Accounting and Finance, Odesa I.I. Mechnikov National University, Odesa, E-mail:ma-demyanchuk@ukr.net, ORCID ID: https://orcid.org/0000-0002-3907-3464

Maslii Natalia
Doctor of Economic Sciences, Professor of the Department of World Economy and International Economic Relations, Head of the Council of Young Scientists at Odesa I. I. Mechnikov National University, Odesa, E-mail:masliy.natalia@gmail.com, ORCID ID: https://orcid.org/0000-0002-3472-5646

Kulikova Yelizaveta
Senior Lecturer at the Department of Financial Management and Stock Market of Odesa National Economic University, Odesa, E-mail:kulikovaelizaveta92@gmail.com, ORCID ID: https://orcid.org/0000-0002-6652-3387

Cite this article:

Demianchuk M., Maslii N., Kulikova Ye. (2023) Comparative assessment of competitiveness of ukrainian and foreign insurance companies. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Porivnialne otsiniuvannia konkurentospromozhnosti ukrainskykh ta zarubizhnykh pidpryiemstv strakhovoho biznesu; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 11-12 (312-313), pp. 91-107.

Abstract

Insurance companies are key participants in the country's financial market, and the issue of their competitiveness plays an important role for the national insurance market in the context of increased competition and globalisation. Previous studies show rather mixed results on the development of the Ukrainian insurance market compared to the insurance markets of other countries, as the risk insurance market prevails. The article is devoted to a comparative assessment of the competitiveness of Ukrainian and foreign insurance companies based on retrospective data using an integral approach to identify opportunities to improve the competitiveness of the analysed companies. The study is based on the results of the calculations of the main components of the competitiveness coefficient of insurance business enterprises, and also examines the relationship between competitiveness and gross profit to identify strengths and weaknesses and find potential opportunities to improve their level.

Keywords

competitiveness, insurance business enterprise, international insurance groups, comparative assessment, integral approach, interdependence.

JEL classification: D220; L250; F230; DOI: https://doi.org/10.32680/2409-9260-2023-11-12-312-313-91-107

UD classification: 368.024.001(477+7)

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