Promising areas of support for the sustainability of insurance business development in Russia

The external environment of modern business is characterized by global instability and a variety of challenges, which are triggers that start the threat implementation mechanisms. In such a situation, the principles of the concept of sustainable development take on special importance, since they become indicators enabling the working out of effective development strategies. Among other things, all that is typical for the insurance industry in Russia. The insurance business is currently going through a transition period, which is characterized by a complete restructuring of the internal insurance market in Russia. Such a setting forces key insurance companies to review their sustainable development strategies in order to adapt them to the new requirements of the external environment. Thus, the assessment of the prospects for the sustainable development of the insurance business is an urgent area of scientific and practical research. The purpose of the study is to determine directions for maintaining the sustainable development of insurance organizations in the Russian Federation and expanding their capabilities. The research methods are: comparative analysis of sources, classification, SWOT analysis, expert assessments. The result of the study is a list of directions for maintaining the sustainable development of insurance organizations in the Russian Federation and expanding their capabilities. The authors conclude that today the external environment of the insurance market of the Russian Federation is more characterized by threats than opportunities, and the development strategies of key insurance companies should take into account that specifics of the market.