Prudential regulation of insurance activities: theoretical and applied imperatives in the context of financial uncertainty.

Abstract

The object of the study are the processes of prudential regulation in the field of insurance. One of the most problematic issues is the lack of developed theoretical and methodological and applied approaches to determining the features of prudential regulation and supervision of insurance activities in terms of financial uncertainty. On the basis of empirical generalizations in the article it has been proved that it is expedient to investigate the prudential regulation of insurance activities in terms of the system of regulation of insurance activities aimed at ensuring the stability of the insurance system (macroprudential regulation), as well as protecting the interests of clients of insurance companies and the financial stability of insurance companies (microprudential regulation). The fact that the development of insurance is characterized by a change in the regulatory framework under the regulatory supervision of the National Bank of Ukraine has been emphasized in the article. The main problems of institutional support of functioning and development of prudential regulation of insurance activity have been determined. The article has proposed to deepen the theoretical approaches to the implementation of prudential regulation of insurance activities in the modernization of the financial market, taking into account the interests and goals of participants in the financial ecosystem.