Regulation of financial condition insurers in the Russian Federation and assessment the insurers by insured

Регулирование финансового состояния страховщиков в Российской Федерации и оценка страховщиков страхователями
Nadezda Kirillova
2014-11-21

Russian insurance marketinsurance reservesinsurer financial stabilitysolvency marginstatutory capital requirements
In the article describes the main regulations for the financial condition of Russian insurance companies: examined statutory capital requirements of insurers, the solvency margin, formation and placement the insurance reserves, covering equity by assets; are given the main characteristics of indicators, identifies areas of development; used data from supervisory authorities of the Russian Federation, the official statistics, the results of research consulting, insurance data, regulatory framework; based on the results of the article conclusions are drawn on adequate regulation of insurers’ financial stability in the modern Russian insurance market and the necessity to compliance with legal requirements; made the assumption that there is no necessity to tighten regulatory requirements for companies.
1
It identifies key characteristics and development areas for financial-stability indicators using regulatory, official statistical, consulting, and insurance-sector data.
2
The analysis concludes that existing regulation is generally adequate for maintaining insurers’ financial stability in the modern Russian insurance market.
3
The article emphasizes insurers’ need to comply with applicable legal requirements governing financial stability.
4
The article examines Russian regulations governing insurers’ financial condition, including statutory capital, solvency margins, insurance reserves, and asset coverage of equity.
5
The authors argue that tightening regulatory requirements for Russian insurers is unnecessary under current conditions.

Insurance companies operating in the Russian Federation

Regulation and assessment of insurers’ financial condition and stability, including statutory capital, solvency margins, insurance reserves, and asset coverage requirements

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2014-11-21
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Nadezda Kirillova
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