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Insurance Markets of the EAEU Member States: Current Status and Efficiency

Author

Listed:
  • Yuri A. Spletukhov

    (Financial Research Institute, Moscow 127006, Russia; Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

Abstract

The article analyzes the current status and level of development of the insurance markets of members countries of the EAEU, suggests possible ways of increasing the efficiency of the insurance market in these countries. The conclusion is made about significant differences at the level of insurance development between the individual states of the EAEU, as well as differences in the insurance legislation, government regulation and supervision, the structure of insurance types. According to the author, among the main tasks, that should be addressed to ensure the insurance development in the member states of the EAEU, are to increase the public insurance culture, to organize the compulsory insurance system, to form state insurance activity regulation system that meets modern requirements, to improve the functioning of the insurance market infrastructure, to develop the mechanism of reinsurance.

Suggested Citation

  • Yuri A. Spletukhov, 2017. "Insurance Markets of the EAEU Member States: Current Status and Efficiency," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 105-114, April.
    • Handle: RePEc:fru:finjrn:170209:p:105-114
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    References listed on IDEAS

    as
    1. Yury A. Spletukhov, 2016. "Insurance Companies’ Activities Control in the Member States of the EAEU," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 37-45, August.
    2. Yury A. Spletukhov, 2015. "Regulation of Insurance in the Countries of the Eurasian Economic Union: Similarity and Differences," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 83-90, June.
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    Cited by:

    1. Amir K. Sembekov & Yeraly G. Budeshov, 2018. "Sectoral Competitiveness of the Insurance Markets of the EAEU Countries: Criteria and Evaluation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 84-93, April.

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      More about this item

      Keywords

      insurance; insurance market; EAEU member state; level of development; improving the efficiency;
      All these keywords.

      JEL classification:

      • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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