The Mechanism of Financial Security Management of the Insurance Company

The aim of the article is to substantiate the mechanism for managing the financial security of an insurance company in the context of endogenous and exogenous risks, threats and hazards. It is proved that the economic essence of the concept of «financial security of the insurer» can be interpreted on the basis of system, system-activity, state, resource, criterion, indicator, risk- and strategically oriented approaches. It is proposed to consider the financial security of the insurer as a complex characteristic of its activities, which reflects the ability to manage finances, accumulate insurance premiums, fulfill obligations in the face of existing risks, threats and hazards of exogenous and endogenous nature. It is proved that ensuring the financial security of the insurer is based on an effective mechanism specific to each insurance company, depends on the purpose, financial and economic activities of the company, the level of its security and forms, methods and levers of its provision. The mechanism for managing the financial security of an insurance company has been improved, which is based on the definition of targets, forms, methods, levers, management tools, regulatory and information support. An approach to improving the mechanism for managing the insurer’s financial security has been developed, which is based on determining the targets of the insurer’s financial security, analyzing and evaluating the dynamics of the main indicators and activity coefficients, the existing methodological instrumentarium for assessing the level of the insurer’s security and substantiating the most acceptable methods, selecting financial security indicators, calculating the indicators of financial security, determining the level of the insurer’s financial security. Prospects for further research are the development of methodical tools and indicators for assessing the level of financial security of the insurer in the context of existential risks, threats and hazards.