Dynamics of the main indicators of the development of social insurance in foreign countries. Analysis of insurance activity in foreign countries How the insurance market develops in foreign countries

In Russia, during the transition from a planned to a market economy, there was no increase in the role of insurance in the economy. This is evidenced by the extremely low ratio of insurance premiums to GDP.

The value of this indicator varied from 0.6% in 1992 to up to 2% in 1998 The share of Russia in the global volume of insurance services (in terms of premiums collected) was approximately 0.3%, which is in line with India, but inferior to Norway and China. In general, the degree of development of the insurance business in Russia lags significantly behind most countries with a market and transition economy(see table 1)

Table 1.1. Indicators of insurance activity in various countries

1 Source: European Insurance 1997 in Figures CEA, 1996 data.
2 Source: International Insurance Report, June 1997, 1994 data.
3 According to the State Statistics Committee of the Russian Federation for 1997, data for 1997.

Financial stabilization in 1997 created certain prerequisites for the growth of insurance services. The decrease in inflation and the maintenance of the ruble exchange rate gave grounds to count on the development of long-term life insurance and the attraction of citizens' savings to the insurance sector. A positive factor was the adoption of the Decree of the Government of the Russian Federation "The main directions of development national system insurance in the Russian Federation in 1998-2000”. However financial crisis clearly highlighted the problems and difficulties in the development of the insurance industry.

The need for insurance protection of the property interests of legal entities and the population, taking into account the increased risks and depreciation of fixed production assets, is covered to a small extent. The existing estimate of the share of currently insured potential risks of 10%, given by some experts, is clearly overestimated. This conclusion is based on two main arguments.

First, according to the Ministry of Emergency Situations, in 1997 there were more than 1,500 major accidents and catastrophes, 151,000 fires, as a result of which 1,651 people died and more than 82,000 people were injured. The total damage from these emergencies exceeded 300 billion rubles, which is more than 10 times greater than the total insurance payments for the same year. Losses in most of the emergencies were not insured and compensated.

An example is the accident of the transport aircraft AN-124, which fell in December 1997 on residential areas near Irkutsk. Only the lives of members of the military crew were insured, since the Ministry of Defense is obliged to insure the military personnel and cargo - military aircraft transported to Vietnam. At the same time, the transport plane was not insured (the damage was estimated at $70 million), the lives of the dead (69 people died), and the homes and property of the affected citizens.

Secondly, the damage to individuals as a result of accidents, accidents and other unforeseen events is almost impossible to assess, because. not all of them are registered. More than 30,000 people die and about 200,000 are injured and maimed every year as a result of traffic accidents alone. Due to the lack of insurance coverage, a significant part of the material and moral damage to private individuals is also not reimbursed. The potential of the insurance industry in Russia is practically not being realized, primarily due to the low solvency of the population, the lack of attractive investment instruments, distrust of financial institutions, the lack of an insurance culture, and the imperfection of legislation.

According to the data of the State Statistics Committee of Russia for 1997, 1893 insurance organizations were registered in the country, which had 5062 branches.

By European standards, the level of concentration of the Russian insurance business is relatively low (see tables 1.2 and 1.3). Although the data in the tables are not entirely comparable because they cover different types of insurance, they give an idea of ​​the overall level of concentration in the insurance industry.

Table 1.2. Share of companies in the total volume of insurance operations in Russia, 1997 (in %).

Source: "Expert-RA"

It is significant that during the first 9 months of 1998 the concentration in personal insurance increased. The share of the 10 largest companies increased from 35.12% to 46.33%, the 25 largest - from 53.33% to 62.35%. The level of concentration of the insurance business in Europe (in terms of collected premiums) is clearly evidenced by the data in Table. 1.3.:

Table 1.3. Degree of concentration in certain types of insurance in European countries, 1996 (%).

Country	Life insurance			Insurance other than life insurance
	first 5 companies	First 10 companies	First 15 companies	first 5 companies	first 10 companies	First 15 companies
Great Britain	30,2	45,8	56,6	30,9	45,1	52,4
Germany	30,7	46,1	57,2	23,0	35,6	45,5
France	48,6	69,8	82,8	39,9	61,7	74,9
Italy	42,0	55,1	64,8	33,7	51,5	62,7
Poland	97,0	99,9	100,0	89,2	94,4	97,7
Czech	96,9	99,5	99,9	89,8	95,4	97,8
Hungary	92,2	99,9	100,0	91,1	99,9	100,0

Source: European Insurance 1997 in Figures CEA.

In the 1990s, the trend towards the centralization of capital increased markedly in the global insurance market, and a large number of mergers of insurance companies took place in order to resist fierce competition in an increasingly open market. In Eastern European countries, the share of the three largest companies in life insurance is more than 75%, and in insurance other than life insurance - more than 50%.

The Russian market has not yet reached this level of concentration. It operates a large number of small companies with extremely low financial potential. About the same number of insurance companies are registered in Russia as in the UK, France and Germany combined. However, the total assets of the 30 largest Russian insurance companies are less than 7 billion rubles, which corresponds to the size of an average Western company. About low potential Russian companies, the instability of their position is evidenced by the constant changes in the list of leading companies. In particular, according to the results of 9 months of 1998. among the 100 largest organizations in voluntary insurance 39 new companies appeared in comparison with 1997.

The activities of insurers and insurance intermediaries in the industrialized countries of the world are carried out in the following organizational forms: joint-stock companies, mutual insurance companies, state and mixed organizations, private enterprises and societies, cooperative insurance organizations, joint ventures, corporations, etc. Moreover, in different countries the ratio of these forms is not the same. Legislative regulation of the activities of the insurance markets in different countries is not the same.

Consider the features of the functioning and the state of the insurance markets in the US, UK and Germany.

US insurance market. There are over 8,000 property insurance companies and about 2,000 life insurance companies in the United States. These companies are huge and their activities (perhaps the only one) do not fall under antitrust laws. There are 2 types of insurance companies in the USA: Joint Stock Companies and Mutual Insurance Companies. There are no state insurance companies.

Each state has its own insurance legislation and its own regulatory body. There is no unified federal law on insurance and no unified federal body for supervision of insurance activity. Each state puts forward its own requirements for the minimum level of capital, types of insurance offered, carries out general regulation of insurance activities by issuing licenses to agents, brokers and the insurance companies themselves.

The assets of all insurance companies amount to approximately 1.6 trillion. dollars. On average, the assets of one company amount to 950 million dollars.

The legislation provides for the specialization of insurance companies in carrying out life and property insurance operations. Insurance companies carry out three types of insurance:

Beckifits (life and health insurance, medical, pension, savings, etc.);

Commercial (wide range);

Personal (implies insurance of buildings, cars and other property of citizens).

The activities of all US insurers are carefully analyzed by three consulting companies: A.M. best; Moody S.; Standard & Poors, which analyze the state of insurance companies and publish quarterly catalogs of their work. The main factors on which the analysis is made are: financial position, claims payments and level of service, safety and loss prevention, flexibility in the company's work, cost of services.

US insurance companies are among the largest investors in the country. Multibillion-dollar funds belonging to various pension funds are transferred to the management of insurance companies. At the same time, the task of insurance companies is to ensure the safety and growth of trusted funds through a reasonable investment policy.

UK insurance market. The UK insurance business has been concentrated in London as a global financial center for many years. The institutional structure of the UK insurance market is represented by joint-stock companies, mutual insurance companies and other companies, branches and representative offices of foreign insurance companies.

A large independent link in the national insurance market of international importance is the Lloyd Insurance Corporation. It is represented by 400 insurance syndicates, accountable to the Lloyd's Council, which unite individuals - underwriters who directly carry out the corporation's insurance business. Each syndicate is represented on the international market through a leading underwriter who directly takes risks for insurance in the syndicate from the intermediary broker Lloyd's.

The legal framework for insurance activities in the UK is the Insurance Companies Act 1982. The Lloyd Insurance Corporation Special Law regulates the insurance activities of this corporation. UK insurance legislation is largely harmonized with the requirements of EU insurance directives. The legislation establishes a list of mandatory types of insurance.

The functions of the state insurance supervisory authority in the UK are entrusted to the Department of Trade and Industry (DTI) and, in particular, to its Insurance Department. Insurance companies and individuals are engaged in insurance activities under the DTI license. With regard to members of the Lloyd Insurance Corporation, licensing issues are transferred to the competence of the supreme body of this organization (the Council). Separate licenses must be obtained for each type (class) of insurance.

Special structures of the English insurance market - the Office for the protection of policyholders and a special compensation fund, which are designed to ensure payments to policyholders in unforeseen cases (bankruptcy of the insurer).

German insurance market. Insurance business in Germany is divided between the state social security system and the private sector of insurance services. Social insurance is compulsory for all employees unless they are covered by the private insurance sector. Social insurance is represented by insurance for old age, in case of unemployment, in case of temporary disability.

The private sector of insurance services is represented by joint-stock insurance companies, mutual insurance companies and state insurance corporations. German insurers do not have the right to engage in any activity other than insurance.

The insurance business in Germany is heavily regulated. The Act on State Insurance Supervision 1983 is currently in force. All national and foreign insurance companies operating in Germany are subject to mandatory state insurance supervision by the Federal Office for the Supervision of Insurance Companies (BAV). Insurance companies established in individual federal states are subject to insurance supervision by the authorities authorized by the state authorities (as a rule, these are the state economic departments).

There are higher requirements for foreign insurance companies than for national ones. They go through a more complex licensing procedure.

Compulsory insurance in Germany is limited and is represented by the following types: compulsory insurance of employers against industrial accidents, civil liability of vehicle owners, professional liability of air carriers, accountants, hunters, operators of nuclear power plants, manufacturers of pharmaceutical products, etc.

Topic 9. Current state of the Russian insurance market and the global insurance industry

Target – to acquaint with the experience of organizing insurance in foreign countries, since European countries have richer experience in organizing and conducting insurance operations in the financial market, and such experience is very valuable in organizing insurance activities in the Russian Federation. 1. Consider the general characteristics of the organization of insurance in foreign countries 2. To study the features of the organization of the insurance business in the United States. 3. Familiarize yourself with the procedure for organizing insurance in the countries of Western Europe (Great Britain, Germany, France). 4. Consider the prospects for the development of the insurance market in Russia, taking into account and applying the experience of foreign countries.

1. Insurance in foreign countries. General characteristics of the insurance market

Insurance belongs to the most integrated forms financial activities. The largest insurance companies in the world are united by ties of joint insurance and reinsurance. Many countries allow free access of foreign insurance companies to national markets. For example, in accordance with the Maastricht Treaty of 1992, all kinds of restrictions on foreign capital in the countries of the European Union were lifted and a course was taken towards the formation of a single insurance market in Europe. However, national insurance markets retain certain characteristics.

This applies primarily to the structure of insurance industries and the types of insurance coverage offered. For example, in Asian countries, the share of life insurance is very high (77% of the total collected insurance premiums). In Europe this figure is 47% and in North America it is 42%, i.e. property insurance dominates in these markets. The reason for these differences is that life insurance develops most intensively in countries with a low level of public social protection where people themselves must decide the issue of their own pension provision. In addition, in poor Asian countries, the population has less property that needs insurance.

According to the director of the French insurance program SARA J.-P. Daniel, the insurance market of Western Europe in the mid-90s. 20th century looked as follows (Table 1). The highest level of premiums per capita is observed in Luxembourg - 2800 ECU with a population of 395 thousand people. This is due to the fact that Luxembourg is considered a "tax haven", Germans, Belgians and insurers from many other countries place their capital here.

Number of companies	The number of employees in them	Turnover, million ecu	Population, thousand people	Insurance premium per capita, ecu
Germany
Ireland
Luxembourg
Netherlands
Portugal
Finland
Great Britain

For comparison, it should be noted that in the United States there are 9133 insurance companies, and with a population of 258 million people. per capita accounts for 2334 ecu of insurance premiums.

1.1. Insurance business in the USA. Its features

The American insurance business is huge and unparalleled in the world.

American insurance monopolies control approximately 50% of the entire insurance market in the industrialized countries of the world. There are over 8,000 property insurance companies and about 2,000 life insurance companies in the United States.

Each state has its own insurance legislation and its own insurance regulator. There is no single federal law on insurance and no single federal agency for supervision of insurance activities. Consequently, each state puts forward its own requirements for the minimum level of capital, the types of insurance offered, audits controlled insurance companies, and carries out general regulation of insurance activities by issuing licenses to brokers, agents and the insurance companies themselves.

In the United States, there are two types of insurance companies:

• joint-stock companies
• mutual insurance companies.

There are no state insurance companies. Shares of joint-stock companies can be acquired by both an individual and a legal entity.

Historically, insurance companies in the US have mostly been mutual insurance companies and are traditionally smaller than joint-stock companies.

Insurance companies carry out three types of insurance:

1. bekifits (life and health insurance, medical, pensions, savings, etc.);
2. commercial (wide range);
3. personal (implies insurance of buildings, cars and other property of citizens).

The legislation provides for the specialization of insurance companies in carrying out life and property insurance operations. The assets of all insurance companies are approximately $1.6 trillion. On average, the assets of one company are $950 million, and the 12 largest companies account for $45 billion.

Insurance companies in the US are not subject to antitrust laws. However, the activities of all US insurers are carefully analyzed by three consulting companies: “A. M. Best”, “Moody S”, “Standart & Poors”, which quarterly publish catalogs based on the results of their work. They publish official ratings of insurance companies in terms of reliability for the client and data on the state of their solvency. The main factors used for analysis and ratings are: financial position; claim payments and level of service; security and loss prevention; flexibility in the work of the company; cost of services (minimum tariff rates). Loss rate, income and return on investment and level accounts receivable considered to be the performance criteria of the insurer.

In the United States, an electronic data bank for all insurance companies is widely used, which makes it possible to distribute companies by risk, premium, etc.

One of the most important features of the largest US life insurance companies is that, due to the high authority of insurance companies, multibillion-dollar funds belonging to various pension funds are transferred to their management. The task of insurance companies in this case is to ensure the safety and growth of entrusted funds through a reasonable investment policy. Insurance companies charge a commission for managing these funds.

Investments are of great importance to American life insurance companies. Thus, statistics show that in 1984 the insurance costs and payments of insurance sums of life insurance companies amounted to 118% of the collected premium, while the profit of these companies at the end of the year amounted to $ 6.9 billion. It is absolutely clear that it was received not through direct insurance operations, but from investments.

However, even more importantly, huge investment resources turn insurance companies into one of the influential external centers. financial control towards industrial corporations.

Financial ties are reinforced by a personal union. According to incomplete data, US insurers sit on 27 out of every 100 boards of directors of American industrial corporations. Only commercial and investment banks are ahead of insurance companies in this respect.

The organizational basis of American insurance companies is made up of joint-stock companies and mutual insurance companies (“mutuals”). There is an institution of underwriters and insurance brokers - insurance agents or independent brokerage firms. Thus, for example, one of the largest life insurance companies, the Prudential Society, has 22,000 insurance brokers. Independent brokerage firms include Marsh-McLenan, Alexander & Alexander, Freck Hall, Fred C. James.

The largest insurance companies in the world, and above all in the United States, are financial conglomerates: through subsidiaries, they can, in addition to providing insurance, provide loans and borrowings, organize check services for customers, issue credit cards, conduct transactions with real estate, securities, manage property and capital on behalf of clients. There is a further internationalization of the insurance business, after fierce competition in the 1970s. marked a clear turn in favor of the United States.

The largest companies operating in the US insurance market include the following companies:

"State farm mutual automobile insurance company" - a multinational property insurance company in collecting premiums takes 1st place not only in the United States, but throughout the world. Founded in 1922 in Illinois. This is a mutual insurance company (instead of a share capital - share capital): transport, property, accident, aviation and reinsurance.

"Signa" is one of the leading broadly diversified insurance corporations. Founded in 1982 as a result of the merger of two insurance companies - "Connecticut General corporation" and "INNA corporation", insures property and liability.

American International Group, Inc. (AIG)" - one of the leading international diversified insurance groups and the largest US insurer of trade, industrial risks, risks in the field of life insurance (AIG - Life). She began operations in 1919 in Shanghai. Today it is a holding company that controls 44 subsidiaries in 130 countries. The staff of employees is about 28 thousand people. All companies of the group are combined into six specialized divisions. Property insurance and liability insurance of large commercial and industrial firms in the United States gives an insurance premium of about $ 8 billion a year. The foreign business of American monopolies and the activities of foreign companies in the United States and other countries - $ 2 billion. For life insurance, the annual premium is $ 9 billion.

The largest US companies are also:

Metropolitan Life Insurance Co. (New York, founded in 1868, the successor of "National Travers Insurance"), since 1915 is a life insurance company on a mutual basis;

Continental Corporation, founded in 1853;

Prudential Insurance Company of America - 1876;

Allstate Insurance Company - 1913 and others.

1.2. UK, French and German insurance markets

Great Britain. This country is characterized by the most liberal insurance system. There are no special supervisory bodies for insurance companies here - supervision is carried out by the Industrial Department. Despite the freedom in setting insurance premiums and insurance rules, the quality of services here is not worse, and prices are lower than in other countries.

The UK insurance business has been concentrated in London as a global financial center for many years. London's largest international insurance market serves the financial flows of a number of countries and companies. The authority of the London international insurance market is based on a significant personnel potential of insurance specialists, a highly developed market infrastructure, as well as the presence here of Lloyd Insurance Corporation, which is widely known outside the UK. The corporation has recently gone through a severe crisis, from which it emerged with the help of serious organizational reforms. However, all these difficulties almost did not affect the domestic insurance market of the country, serving the domestic clientele.

Representative offices and subsidiaries of all the world's largest insurance companies are also located in London. The central offices of all major international and reinsurance brokers are concentrated here. The headquarters of international insurance organizations are located, as well as some structures of the national insurance market (Institute of London Insurers, the Institute of Chartered Insurers, the Institute of Underwriters, etc.), whose activities are of an international nature.

In accordance with the EEC directives, since 1982, no new universal insurance companies have been created in the UK. Personal and property insurance policies can be issued within the same group of insurance companies. UK insurance companies are not allowed to engage in any other type of business other than insurance.

UK insurance legislation is largely harmonized with the requirements of EU insurance directives. Thus, the issues of accumulative life insurance are subject to legal regulation by the English law on financial services of 1986. The activities of friendly societies are regulated by a special law on friendly societies of 1974. A special law on the Lloyd Insurance Corporation of 1982 regulates the insurance activities of this corporation.

The functions of the body of state insurance supervision in the UK are assigned to the Department of Trade and Industry (DTI), which is headed by the Secretary of State for Trade and Industry. In practice, day-to-day insurance supervision is carried out by the insurance division of the Department of Trade and Industry.

Insurance companies and individuals are not allowed to engage in insurance business in the UK until they have received a DTI license. An exception to the general rule applies to members of the Lloyd's Insurance Corporation, friendly societies and trade unions that insure their members during strikes.

Foreign insurance companies operating in the UK insurance market conduct their operations on the same terms as their English competitors.

Germany . Unlike the UK insurance market, the German insurance market is under strict government control. Its characteristic feature is the close connection of the insurance business with large industrial capital. Mutual participation in capital and management is widespread. It is said that approximately 50 people control all the major German enterprises. Therefore, competition exists mainly at the level of distribution networks. Germany is clearly dominated by one insurance company, Allianz AG. This is not the case in any other country. It accounts for 42% of life insurance and 38% of other insurance industries. At the same time, a little more than 55% of Allianz AG's turnover falls on Germany, everything else is related to foreign activities. Until the recent merger of two French insurance companies AXA and IAR, Allianz AG was the largest insurance company in Europe. In second place in Germany is an insurance company called "R + V". Its rise in recent years was due to the unification of Germany. It has a cooperative structure, specializes in insurance of rural residents and agricultural production, and it is the collective, cooperative form of ownership that has endeared East Germans to it, who prefer "R + V" to all others.

Foreign insurers in Germany own 13% of the insurance market, of which the leading positions are traditionally occupied by insurance companies from Switzerland, which have been present on the banks of the Rhine for more than 100 years.

All national and foreign insurance companies operating in Germany are subject to mandatory state insurance supervision by the Federal Office for the Supervision of Insurance Companies (BAV), located in Berlin. One of the main functions of BAV is to monitor the level of solvency and financial stability insurance companies - economic entities of the German insurance market.

Insurance services are traditional, German insurance companies are not prone to risky experiments. In particular, Germany is the only country in Europe, except for Russia, where they still sell mixed life insurance contracts that guarantee 100% receipt of the insurance amount both in the event of the client's death and in the event that he survives to the due date. In other countries, combined insurance is practiced, in which the capital paid on death is not equal to the capital paid on survival. Counter-insurance is also common, in which, in the event of the death of a client, the insurer reimburses only the premium reserves accumulated under the contract or somewhat more. Usually such agreements are concluded for 20 years. In Germany, mixed insurance occupies 77% of the life insurance market.

Reinsurance is highly developed in Germany. This is because, after the First World War, German direct insurance companies were prohibited from operating abroad. This ban did not affect reinsurers, insurance capital rushed into this industry, which brought its results over the years. Today it is a global reinsurance center, whose services are also used by Russian insurance companies.

An important feature of the German market is “bank insurance”, when an insurance company in its outlets is engaged not only in insurance, but also in the provision of banking services.

France . The French insurance market is mainly focused on life and car insurance. Car insurance and civil liability of vehicle owners are extremely well developed here. The system has been worked out to the smallest detail and, unlike others, the French market has practically no losses on car insurance.

Many large insurance companies were nationalized after World War II and owned by the state for many years, as were many banks, and large enterprises. This situation did not contribute to the prosperity of the national economy and relegated it to the background in competition in the world market. Even 20 years ago, state-owned insurance companies controlled from 20 to 50% of the market for various types of insurance. To date, most of the state-owned insurance companies have already been privatized. CNP, the largest life insurance company, remains state-owned for the time being, for which a sale project has been prepared, but it has not yet been implemented due to difficulties in choosing a suitable investor. However, this company does not have any advantages over private insurance companies.

France is very important social insurance. In recent years, the state has taken a number of measures to stimulate life insurance, and in 10-15 years, France has caught up and overtaken its neighbors in this respect. This has been achieved through the introduction of serious tax incentives for life insurance, such as:

• interest accrued under an insurance contract on the amount of paid premiums is not taxable. This means that an insurance contract is more profitable than a bank deposit. This benefit is valid if the contract is valid for at least 8 years;
• on the capital received under the insurance contract, in the event of the death of the policyholder, it is not necessary to pay inheritance tax, which can range from 5 to 60%;
• the insurance payment is not part of the inherited property, that is, it is not subject to division among other heirs.

Therefore, life insurance is the best legal way to transfer money to heirs without being subject to inheritance tax.

Bank insurance is also developed in France. Moreover, life insurance contracts are sold even through post offices, which provide both insurance and banking services in rural settlements and small towns. They are engaged, for example, in maintaining bank accounts, savings books and are a kind of bankers for the poor.

In recent years, the integration of European countries within the EU has contributed to the further development of insurance and the formation of a single insurance market. Statistics show high growth rates of this industry in almost all countries.

In general, insurance in different countries demonstrates a significant variety of forms and a high degree of adaptability to the social and economic conditions of the population.

2. Modern insurance market in Russia. Development prospects

During the existence of the USSR, in the conditions of the state socialist economy, the need for insurance was minimal. The population insured their property, houses and lives, but not en masse. Thus, in 1989, the number of voluntary insurance contracts in force among the population was 121.5 million, with a population of 148 million people. This is very little, considering that in countries with a developed system of insurance protection, the number of insurance contracts is 5-6 per person. State-owned enterprises, moreover, did not feel the need for insurance. Compensation for damages occurred at the expense of public funds.

With the transition to a market economy, the need for insurance increases dramatically, creating the basis for the rapid development of the insurance market. Currently, the demand for insurance coverage has three main sources:

1. The non-state sector of the economy, which has a natural need for insurance and due to its insecurity and inability to qualify for state financial support.
2. The second source of demand for insurance services is associated with the privatization of the housing stock, the reform of housing and communal services, the development of individual housing construction and the growth in the welfare of a certain part of the population.
3. The broad masses of the population. The guarantees provided by the state social insurance system are well below the standard of living. The state relieves itself of the duty of constant guardianship over its citizens, giving them unprecedented freedom of action. Under these conditions, the need for various forms of personal and property insurance inevitably increases, guaranteeing support for citizens and households in critical situations, material security in old age, the provision of quality medical services, and much more.

In 2002, 1,408 insurance companies were officially registered in the State Register, of which 1,176 actually operate in the insurance market. In dynamics, their number is noticeably decreasing due to an increase in the minimum amount of authorized capital and natural processes of capital concentration. Compared to 1997, the number of insurance companies has almost halved. Obviously, this process will continue.

In the Russian insurance market already in the mid-1990s. dominated by private capital. In the total number of insurance organizations, private companies accounted for 36%, mixed ownership - 58, state - 5, municipal - 1%. Since 2000, there has been a tendency for the state to withdraw from the insurance market, expressed in the sale of blocks of shares owned by the state in the capital of large insurance companies. The volume of insurance premiums collected in 2001 amounted to 276.6 billion rubles; growth compared to the previous year - 60.9%. Such high growth rates are primarily due to the peak growth of life insurance, which provided more than half of all receipts in 2001. In 2002, the collection of insurance premiums amounted to 300.4 billion rubles. The real collection of insurance premiums decreased by 6%. For voluntary insurance, the reduction was 15%, mainly due to life insurance, where payroll schemes are being abandoned. At the same time, the volume of property insurance is growing due to the removal of restrictions on the attribution of insurance costs to costs.

The share of compulsory insurance in total income is about 21%. The structure of voluntary insurance is presented as follows: life insurance - 44%, other types of personal insurance - 13, property insurance - 38, liability insurance - 5%.

The total amount of insurance payments in 2002 amounted to 231.6 billion rubles, including 172.5 billion rubles for voluntary insurance. The ratio of payments to receipts for voluntary insurance was 77%, including 131% for life insurance, 62% for other types of personal insurance, 16% for property insurance, and 15% for liability insurance.

The ratio of collected insurance premiums to GDP in 2001 was 3%, and in 2002 it decreased to 2.7%. For comparison, we note that in countries with developed market economies, this figure is 8-10% of GDP.

Currently, Russian insurance companies are on the verge of change. This segment configuration financial market should change drastically in the next few years. Now the national character of insurers should be fully manifested. They will have to pass a test of vitality, ability to cooperate, show wisdom and fighting qualities. The main hopes for business development are related to innovations in the legislative and supervisory spheres.

New bills regulating the activities of insurers also concern the interests of citizens, as well as policyholders.

The focus is on the laws on compulsory liability insurance for enterprises operating hazardous facilities, the law on compulsory motor third party liability insurance (OSAGO), and a new version of the law on the organization of insurance business has been prepared. According to it, it is planned to reduce the number of licensed activities. A simplified licensing procedure involves liability insurance for representatives of various types of businesses, including builders, architects, etc. This significantly expands the horizons of activity for Russian insurers.

Also, the activities of insurers will be affected by amendments to the Tax Code of the Russian Federation related to voluntary medical insurance and classic life insurance. Thus, in the fall of 2006, it is planned to submit a draft law on compulsory medical insurance to the State Duma of the Russian Federation, and in 2007 it is planned to work on a draft law on insurance of doctors' liability.

It is supposed to provide some tax breaks for the population, for example, tax deductions for employees of enterprises that purchase policies of voluntary health insurance or life insurance, since by the end of 2005 the share of life insurance operations in the overall structure of the portfolio of Russian insurers fell to 5% due to systematic actions of regulators.

It is planned to consider a draft law on compulsory insurance of civil liability of enterprises operating hazardous facilities. It deals with the protection of the property interests of citizens in the event of accidents at hazardous facilities. There are thousands of them in Russia. In the event of an accident at such an enterprise, citizens will receive compensation for the damage caused to their life, health and property. In this case, individuals in the list of recipients of insurance compensation will have priority. Legal entities will receive damages in the second place. In contrast to the law on OSAGO, the structure of the bill on payments is somewhat different. It does not provide for the establishment of maximum insured compensation amounts. Its size is "tied" to the amount of the insurance premium under the policy and, in essence, reflects the significance of the production itself, the amount of potential damage. After all, it depends on the size of the sum insured. Its minimum value is set at 14 million 800 thousand rubles. It is planned to form a fund of preventive measures to implement a policy to improve security at enterprises. In this compulsory type of insurance, due to large risks, the topic of reinsurance arises. Companies come to understand the need to form one or more insurance pools.

A chapter on self-regulation in the insurance market is being introduced into the law on the organization of insurance activities. Its concept assumes the existence of self-regulatory organizations at the regional and federal levels, the introduction of additional requirements for participants, the joint liability of insurers, the creation of guarantee funds, etc. In the event of joint liability of participants in a self-regulatory organization (SRO), relations within the association change dramatically. Internal control for the implementation of the rules is carried out on more stringent grounds. The activities of such organizations provide specific assistance in doing business, including simplifies the licensing procedure. SRO by law is the subject of the insurance business. If an organization has assumed regulatory functions and does not perform them or performs them improperly, the FSIS may remove the SRO from the insurance register, putting an end to its activities.

In connection with the prospect of joining the WTO, it is planned to change the legislation regarding the admission of foreign insurers to the Russian insurance market. This necessitates the preparation of such legislation, which will equalize direct branches with subsidiaries in the implementation of insurance activities. Such rules exist in international practice, they involve resolving issues related to supervision, reporting procedures, as well as the procedure for investing insurance premiums collected in the territory of the Russian Federation.

conclusions

Thus, the topic discusses the features of the organization of the insurance market in foreign countries. Differences in the organization of insurance in different countries of Western Europe, the USA and Japan are determined. An assessment is made of the need to study and implement the best in the organization of the insurance business in Russia, and also notes the fact that for Russia to join the WTO, it is necessary to allow Western insurers to enter the Russian insurance market, for which it is necessary to amend the existing legislation.

Related questions

1. What are the general characteristics of the organization of insurance in Western countries?
2. What are the features of the organization of insurance in the United States?
3. How is the insurance business built in the UK?
4. What are the main features of insurance and reinsurance operations in Germany?
5. How is insurance organized in France? What are its features?
6. What are the prospects for the development of insurance in Russia and its interaction with foreign insurers?
7. What are the main conditions for Russia to join the WTO in the field of insurance?

1. Insurance in questions and answers: textbook. allowance / M. M. Ardatova, V. S. Balinova, A. B. Kuleshova, R. Z. Yablukova. – M.: TK Velby, Prospect Publishing House, 2006. – 296 p. (pp. 44-46)
2. Shakhov VV Insurance: Textbook for universities. - M.: UNITI, 2003. - 311 p. (pp. 268-271)
Question 1. Insurance in foreign countries. General characteristics of the insurance market. Shakhov V.V. Insurance: Textbook for universities. - M.: UNITI, 2003. - 311 p. (pp. 268-271)

Question 1. Insurance in foreign countries. General characteristics of the insurance market. Insurance: textbook / ed. T.A. Fedorova. - 2nd ed., revised. and additional - M.: Economy, 2005. - 875 p. (pp. 53-59, with abbreviations). Question 2. Modern insurance market in Russia. Development prospects. Insurance: textbook / ed. T.A. Fedorova. - 2nd ed., revised. and additional - M.: Economy, 2005. - 875 p. (pp. 46-53)

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Features of the US insurance market. In the United States of America, there are more than 8 thousand property insurance organizations and about 2 thousand life insurance organizations, while in the EEC countries there are about 5 thousand of them. By the beginning of the 1990s. US citizens had about 90 million insurance policies in their hands for a total of $4.5 billion.

American insurance monopolies control approximately 50% of the entire insurance market in the industrialized countries of the world.

In the United States, there are two types of insurance organizations: joint-stock companies and mutual insurance companies. There are no state insurance companies. Shares of joint-stock companies can be acquired by both individuals and legal entities.

Insurance activities include:

• ? bekifits (life and health insurance, health insurance, pension insurance, savings insurance, etc.);
• ? commercial insurance (wide range);
• ? personal insurance (implies insurance of buildings, cars and other property of citizens).

The insurance industry in the United States is the only one not subject to the country's antitrust laws.

Personal insurance has received the greatest development in the United States, the second most important type of insurance in the United States is insurance of the credit and financial sphere, which is largely due to the widespread use of the principles of credit settlements in the sphere of trade and services in the country.

Property insurance and liability insurance of large commercial and industrial firms in the United States gives an insurance premium of about 8 billion dollars. in year.

All insurance companies in the United States are divided into groups according to the organizational principle: joint-stock organizations (the majority of them) and "mutuals" - a kind of mutual insurance partnerships.

A joint-stock company is owned by the owners of shares, who receive profit in the form of dividends. The owners of Mutuals can only be insured in this organization, and all capital is created through insurance premiums and deductions from profits.

One of the most important features of the largest US life insurance organizations is the fact that, due to the high authority of insurance organizations, multibillion-dollar funds belonging to various pension funds are transferred to their management. The task of insurance companies in this case is to ensure not only the safety, but also the growth of trusted funds through an effective investment policy (organizations charge a commission for managing funds). Even modest amounts (0.1% of the amounts taken under management) bring in millions of dollars in income. Huge investment resources turn insurance organizations into one of the most influential centers of financial control in relation to industrial corporations.

Another characteristic feature of the US insurance system is the participation in insurance of various intermediaries - when the insurance policy is not accepted directly, but through an insurance agent or broker. The total number of brokers and agents in the country reaches 500 thousand people. Brokerage activities are carried out by both individuals and large specialized firms.

The activities of all US insurers are carefully analyzed by three consulting organizations A.M. Best, Moody S, Standard & Poors, which quarterly publish catalogs on their work. They publish official ratings of insurance organizations in terms of reliability for the client and data on the state of their solvency. The main indicators on which the analysis is made are: financial position, payment of claims and level of service, security and loss prevention, flexibility in the work of the organization, cost of services. The level of losses, income and return on investment, and the level of receivables are considered the main criteria for the effectiveness of the insurer.

For decades and up to the present UK insurance market dictated the terms and conditions of insurance. English insurance rules have been used to develop national insurance conditions in many countries of the world.

By some indicators, the English insurance market still has no equal in the world. Thus, with a relatively small size of the domestic insurance market (5.3%), its share in international operations is almost 20% of the entire world insurance business. British insurance companies operate in 43 countries. Almost a tenth of all insurance premiums in the world goes to the accounts of British insurance companies.

In the UK insurance market by the early 1990s. 838 national and foreign insurance organizations operated; 376 Lloyd Insurance Corporation syndicates. The world's most famous insurance institution, the Lloyd syndicate, unites more than 23.5 thousand individual insurers who are responsible for the risk of their property. Lloyd operates in five major independent markets - maritime, general property, aviation, automotive and short-term life insurance. Marine insurance accounts for 40% of all insurance premiums received by the corporation, most of which comes from international operations.

Insurance legislation in the UK complies with EU insurance directives.

The institutional structure of the UK insurance market is represented by joint-stock companies, mutual insurance companies, branches and representative offices of foreign insurance companies. In accordance with EU directives, insurance organizations are not allowed to engage in any other type of business.

Personal insurance in the UK is concentrated in specialized insurance organizations, pension funds, as well as investment organizations (building companies) that sell real estate to the public.

Property insurance among the population is represented by a number of traditional types. Among them are the insurance of cars, household property, civil liability, etc. Personal and property insurance is characterized by a steady pace of development.

In Great Britain it is widely developed:

• ? compulsory insurance of civil liability for damage to third parties caused by the owners of vehicles, air transportation, pets;
• ? compulsory professional liability insurance for lawyers, accountants, insurance brokers, as well as operators of nuclear power plants.

Insurance contracts in the UK are concluded directly by insurance companies, as well as through underwriting agencies and insurance intermediaries (agents and brokers).

The special structure of the English insurance market is the system of protection of policyholders, as well as the corresponding insurance fund, formed at the expense of insurance organizations. The level of contributions to the compensation fund is based on the net insurance premium collected by the insurer under insurance contracts. In case of bankruptcy of an insurance company, the funds of the compensation fund will be used to fully or partially compensate for their losses under compulsory insurance contracts.

The most liberal insurance system has been created in Great Britain: the functions of the state insurance supervision body are performed by the insurance department of the Department of Trade and Industry.

Despite relative freedom in setting insurance premiums and in insurance rules, the quality of services here is not worse, and prices are lower than in other countries. Historically, the UK insurance market has been divided into two independent parts: London and everything else. The London market mainly insures foreign clients - ships, oil organizations, transnational corporations. The largest insurance organization Lloyd, reigning in the London market, has recently gone through a severe crisis, from which it is emerging with the help of serious organizational reforms. However, all these difficulties almost did not affect the domestic insurance market of the country, serving the domestic clientele.

All insurance organizations are required to prepare an annual financial report, which is subject to mandatory external audit. Insurance organizations pay tax on income from insurance activities, as well as property tax.

German insurance market has a number of features. First, there is a close relationship between the insurance business and large industrial capital, mutual participation in capital and management is widespread. Secondly, the insurance market is under strict state control. Insurance business in Germany is regulated by the law on state insurance supervision, which contains the basic legal norms of insurance. National and foreign insurance companies operating in Germany are subject to mandatory state insurance supervision by the Federal Office for the Supervision of Insurance Companies (BAV). The main goal of the federal body of state insurance supervision, as in other countries, is to protect the interests of policyholders. The third and important feature of the German market is bank insurance (bank insurance) (when an insurance organization in its outlets is engaged not only in insurance, but also in the provision of banking services).

Despite the absence of legal restrictions on foreign capital, the German insurance market is relatively closed. This is due to the psychology of the population: the Germans prefer their insurers. Insurance services are traditional, German insurance organizations are not prone to risky experiments. For example, Germany is the only country in Europe, except Russia, where they still sell mixed life insurance contracts that guarantee 100% receipt of the sum insured in the event of the death of the client and in the event that he survives to the due date. In Germany, mixed life insurance occupies 77% of the market, property insurance - 51%, personal - 37%, medical - about 12% of total income. Health insurance in Germany is noticeably less popular than in other countries of Western Europe.

In the early 1990s In Germany, there were 115 insurance companies serving the personal insurance sector, 230 non-state pension funds, 56 health insurance companies, 35 specialized reinsurance organizations, 330 other insurers. The specifics of the German insurance market are more than 2,200 local regional insurers, collecting about 5% of the total insurance premiums. Foreign insurers in Germany own 13% of the insurance market, of which the leading positions are traditionally occupied by insurance organizations from Switzerland - about 9% of the insurance market.

The private sector of insurance services in Germany is represented by joint-stock insurance companies owned by their shareholders, mutual insurance companies and state insurance corporations.

Insurers in Germany are not allowed to engage in any activity other than insurance.

Compulsory insurance in Germany is relatively limited. Federal legislation establishes compulsory employer insurance for damage to employees caused by an industrial injury or harmful working conditions, compulsory civil liability insurance for motor vehicle owners, air carriers, accountants, hunters, etc. Compulsory fire insurance has been established in a number of federal states.

Germany is dominated by one insurance organization - Allianz. It takes 42% of life insurance and 38% of all other insurance industries. At the same time, Germany accounts for a little more than 55% of its turnover, everything else is related to foreign activities. Allianz is considered one of the largest insurance companies in Europe. In second place in Germany is the insurance organization R + V. Its rise in recent years was due to the fall of the Berlin Wall. This organization has a cooperative structure and specializes in insurance of rural residents and agricultural production. And it was the collective, cooperative form of ownership that placed the hearts of the East Germans in relation to the organization, preferring R + V to all others.

Germany is a true global reinsurance center, whose services are also used by Russian insurance organizations. And it didn't happen by accident. After the First World War, German direct insurance companies were prohibited from operating abroad. But this ban did not affect reinsurers, insurance capital rushed here, which brought its results over the years. The largest of the reinsurance organizations are the Cologne and Munich reinsurance companies.

Recent years have been characterized by the internationalization of the activities of German insurance organizations. Operations abroad are conducted by branches and through controlled foreign organizations. Most of the foreign branches are located in Western European countries, in other regions participation in the capital of local insurance companies prevails. In total, in one form or another, German insurance companies are represented in the markets of 20 countries.

Swiss insurance market characterized by the dynamic development of the insurance business. By the early 1990s, there were 117 insurance organizations in the country, including 23 personal insurance organizations, 82 general insurance organizations and 12 reinsurance companies.

The Swiss insurance market is characterized by a close interweaving of national and foreign capital. Insurance organizations are often multinational corporations with extensive foreign interests.

Swiss organizations occupy a stable position in the field of insurance in the global insurance market (it accounts for more than 50% of all premiums coming from abroad). Within the country, more than 50% of gross premiums are provided by personal insurance.

Switzerland has the highest rate of collection of insurance premiums per capita. Swiss family insurance policies are the largest item in the family budget. Insurance in the sphere of entrepreneurial activity has also received great development (almost all industrial, trade, transport and other enterprises of the country are insured). Swiss insurance organizations are characterized by active investment activity in the capital market. More than 50% of all assets of insurance organizations are placed in the form of loans and investments in bonds.

Italian insurance market plays a less significant role in the country's economy due to the conservatism of the insurance system, the slow introduction of innovations, the lack of diversification of the activities of insurance organizations in related areas of the financial and credit system, and strict state regulation of the activities of insurance organizations.

By the beginning of the 1990s. There were 211 insurance companies in Italy. Of these, 6 were engaged exclusively in reinsurance operations, 25 - only in life insurance, 27 - in life insurance and property insurance, the remaining 135 - only in property insurance. Of the total number of companies, 48 ​​belong to foreign capital.

Approximately 50% of the total fee is for car ownership risk insurance. Most insurance organizations are private joint-stock companies.

The largest insurance organization in Italy - Assicurazioni Generali, one of the ten leading insurance companies in the world, the organization deals with all types of insurance, including property, life insurance, reinsurance and controls at least 12% of the life insurance market in Italy and at least 8% of the property insurance market.

French insurance market began to develop dynamically in the post-war period. Since the mid 1950s. until the early 1980s. its turnover increased 25 times, while the country's gross domestic product - 15 times.

The main types of insurance in France are auto insurance and life insurance. In 1983 - 1984 in connection with the implementation of regular commercial launches of artificial satellites using the Arian rocket, a new industry has been created - insurance of space risks. In order to increase the capacity of the market, in 1983 an insurance pool of space risks was established. The French reinsurance market ranks 5th in the world.

Internationalization for the French insurance market is a relatively new but rapidly developing field of activity. According to this indicator, France ranks 3rd in the world after Great Britain and Switzerland. The largest insurance organizations in France have their branches and departments in more than 60 countries around the world.

The French insurance market is focused on life insurance and car insurance. Car insurance and civil liability of vehicle owners are extremely well developed here. The system has been worked out to the smallest detail, and unlike other French markets, there are practically no losses on car insurance.

Many large insurance organizations were nationalized after the First World War and were state-owned for many years, as were many banks and large enterprises. This situation did not contribute to the prosperity of the national economy and relegated it to the background in competition in the world market. Even 20 years ago, state insurance organizations controlled from 20 to 50% of the market for various types of insurance. To date, most of the state insurance organizations have already been privatized. CNP, the largest life insurance company, remains state-owned.

The role of social insurance in France is very high. Good social security and state guarantees for pensions led to the fact that life insurance was developed here much less than in other European countries. However, in recent years, the social security and pension fund budgets have been persistently in deficit. The state took a number of measures to stimulate life insurance, and in 10-15 years France caught up and overtook its neighbors in this regard, mainly due to the introduction of serious tax incentives for life insurance.

Firstly, interest accrued under an insurance contract on the amount of premiums paid is not taxed, as a result of which an insurance contract is more profitable than a bank deposit. This benefit is valid for a contract term of eight years.

Secondly, with the capital received under the insurance contract, in the event of the death of the insured, it is not necessary to pay inheritance tax (it can range from 5 to 60%). In addition, insurance is not part of the inherited property, i.e. not subject to division among other heirs. Thus, life insurance is the best legal way to transfer money to your heirs without being subject to inheritance tax.

Bank insurance is developed in France. Moreover, in rural settlements and small towns, post offices provide not only postal, but also insurance and banking services. They are engaged in maintaining bank accounts, passbooks, becoming a kind of bankers of the poor.

AT Japan most developed life insurance. Life insurance organizations are the largest owners of shares and bonds of private organizations, as well as public corporations. They play an important role in lending matters. The reason for the dominance of life insurance organizations is the lack of a social insurance and security system in Japan for a long time.

In recent years, insurance companies have been actively penetrating the insurance market in the US, Canada and other countries. The amount of insurance premiums they receive is more than twice the amount of premiums received by general insurance organizations.

An important role in the development of the economy and foreign economic relations is played by organizations providing general insurance.

The state strictly regulates the activities of insurance companies. Insurance premium rates cannot be changed without the consent of the Ministry of Finance. Competition between insurance organizations is limited due to the absence of insurance brokers. The insurance system consists of a large number of branches and their agents, the number of which in large organizations reaches several tens of thousands.

Activities of insurance pools abroad. In most countries of the world there is no special legislation regulating the formation and operation of insurance pools. As a form of association of insurance companies, they are governed by general rules of civil and contract law.

Insurance pools can operate on the principles of co-insurance and reinsurance. Most large pools abroad combine both principles. In pools of joint insurance, participants transfer to the pool all the risks of a certain type, for which the association was created to insure. Risks are divided in certain proportions between the participants along with insurance premiums for them, and each member of the association bears an appropriate share of responsibility for damages in the event of insured events. In reinsurance pools, participants independently engage in primary insurance, and the excess risks are transferred to reinsurance in the pool.

In the world insurance practice there are different types of insurance pools. Practically in every country there are national insurance pools created by insurance organizations in certain sectors of insurance activity. In Germany, for example, these are the German Air Pool for Air Travel Insurance, the German Society for Insurance of Risks in Nuclear Reactors, and the Society for Liability Insurance of Pharmaceutical Companies. As a rule, the insurance pool is not a legal entity, but there are exceptions for national pools. They can obtain the status of legal entities and issue insurance policies that are uniform for all participants.

No less widespread are regional insurance pools created by initiative insurers to increase the insurance capacity of the regional insurance market. This makes it possible to retain as much of the insurance premiums as possible in the region.

Foreign insurance pools combine features of coinsurance and reinsurance pools. For example, nuclear energy risk insurance pools mostly work in both primary insurance and reinsurance. If the pool acts as a primary insurer, then it issues its own policies to policyholders. If the pool acts as a reinsurer, then the policyholders receive insurance policies from insurance companies that are members of the pool, and the risks accepted for insurance are 100% transferred to the pool for reinsurance.

Pool members are jointly and severally liable for current obligations under co-insurance contracts.

The scope of coverage varies from country to country, depending on legislation and tradition.

In Germany, the risks of nuclear power plants are insured, and above all technical risks. The German Nuclear Reactor Insurance Pool is a reinsurance pool. In some other countries, pools cover all types of nuclear insurance, covering the entire cycle of movement and consumption of nuclear raw materials. The formation of insurance pools and the terms of the contract binding their participants correspond to the needs and real possibilities of insurers. In most countries, insurance pools are limited in their activities by antitrust laws.

Problems of interaction between Russian and foreign insurers. The Russian insurance market in the eyes of foreign partners has several attractive aspects.

The Russian insurance business, unlike many other industries real economy not burdened with debts to Western financial institutions. The potential capacity of the domestic market of insurance services is estimated at hundreds of billions of US dollars. In recent years, a fairly low level of unprofitability of insurance operations has been formed in comparison with Western insurance markets. The growth of the well-being of the population of Russia and the associated increase in the effective demand of the population for insurance services should change the current situation.

There is also a real opportunity to create a workable and profitable model for the interaction of capital and technology of Western and Russian insurers.

Is the Russian insurance community ready to work in the presence of foreign insurers on the market? This question can hardly be answered unambiguously. The financial capabilities of domestic insurers are quite limited and will not allow them to take adequate measures in the face of fierce competition. However, the total authorized capital of all insurance organizations included in the unified state register of insurers, increases from year to year and maintains a growth trend.

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