TRENDS IN THE REINSURANCE SECTOR IN THE CONTEXT OF FINANCIAL INTEGRATION

Abstract

The article deals with the problems of insurance integration processes in the EAEU. The strategic directions of state regulation of the reinsurance market of the Republic of Belarus have been identified. It is determined that there is no a single legislative act regulating reinsurance activities in Belarusian legislation. State regulation of reinsurance relies on the current insurance legislation. The analysis of financial stability in EAEU is based on the Solvency I criteria. In the EU countries the risk-based approach to financial stability for the insurance sector is offered. However, neither of these approaches can be fully applied in the Republic of Belarus due to the methods of the analysis, which are based on hypothetical scenarios of market developments and may have a high degree of unreliability. It is determined that in reinsurance, it is necessary to assess the reliability of a reinsurance organization not only on the basis of an analysis of financial indicators, but to make a complex study of the financial stability of a reinsurer. It was concluded that the above methodology makes it possible to objectively analysis of a reinsurer reliability and can help to develop a set of measures aimed at raising it.