Importance Life insurance is an important economic and social mechanism, as it allows accumulating considerable financial resources at the level of the State and regions, and provides individuals with additional income in future. It is expedient to spur the development of this type of insurance in the interests of the State and particular individuals. However, there is no an effective mechanism yet, which would enable to fully realize life insurance in all regions of the country. This fact stipulates the relevance of the researched subject. Objectives The objectives of this research include as follows: to analyze the current state, problems and development trends in the regional life insurance market on the case of the Siberian Federal District, to define its place in the structure of the Russian insurance market, and to carry out a comparative assessment of statistical key figures of life insurance in the country and the region. Methods To conduct the study, I used such research techniques as analysis, comparison, induction, analogy, as well as statistical methods and mathematical modeling. Results I investigated the problem of life insurance development in Russia and the region (the Siberian Federal District). In addition, I analyzed the structure and dynamics of insurance premiums and payments, and loss ratio of premiums. The article includes computed correlation coefficients between the main socio-economic indexes and volumes of life insurance, and statistical factors of loss variation. Conclusions and Relevance I have revealed general trends and features of life insurance markets in the Russian Federation and in the region, the factors determining demand for life insurance, and development prospects for the relevant services market. I emphasized that the variation of life insurance indicators in Russia is much higher, than in the Siberian Federal District. The same is true for the life insurance market as compared to the overall insurance market. This confirms the absence of uniform principles and approaches to life insurance in our country. The research may be useful for developing conceptual framework of further development of the regional insurance market, including its separate segments.
Keywords: regional insurance market, life insurance, insurance, premiums, payments, unprofitability, loss, correlation analysis, statistical ratio
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