Vol. 11 No. 55 (2022)
Articles

Assessment of the financial stability of the Russian life insurance model

Tatiana Odinokova
Ural State University of Economics, Russia.
Bio
Alexander Kharitonovich
Saint Petersburg State University of Architecture and Civil Engineering, Russia.
Bio
Elena Shlekene
Belgorod University of Cooperation, Economics & Law, Russia.
Bio
Raul Yarullin
Financial University under the Government of the Russian Federation, Russia.
Bio
Natalya Shvedova
Volgograd Academy of the Interior Ministry of Russia, Russia.
Bio

Published 2022-10-10

Keywords

  • life insurance, state life insurance, private life insurance, pension insurance.

How to Cite

Odinokova, T., Kharitonovich, A., Shlekene, E., Yarullin, R., & Shvedova, N. (2022). Assessment of the financial stability of the Russian life insurance model. Amazonia Investiga, 11(55), 285–296. https://doi.org/10.34069/AI/2022.55.07.30

Abstract

Life insurance is one of the effective mechanisms of protection against social risks. This product can protect a person in case of disability, provide medical care, increase cash savings. In Russia, in the context of a decrease in the financial capabilities of the state, fragmentation and unsystematic decision-making in the field of life insurance regulation, fundamental changes are being made in the life insurance system. A natural consequence of this situation was a downward trend in some indicators of the development of the Russian life insurance model. The research purpose is to assess the financial stability of the life insurance model used in Russia. As a result of the study, the features of the Russian life insurance model were revealed and its strengths and weaknesses, challenges and threats were identified on the basis of a SWOT analysis; the main factors influencing the balance of financial flows of the Russian life insurance model were identified; an assessment of the financial stability of the Russian life insurance model was carried out.

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