"Finance of Insurance Organizations" is a selective and very popular discipline among students.

The discipline "Finance of Insurance Organizations" is aimed at preparing bachelors, specialty 6.030508 "Finance and Credit" (specialization "Finance"), who should know the theory and methodology of financial management of insurance organizations to use this knowledge in the process of working directly in the insurance business or exercise economic, control and other relationships with insurers, which are inherent to relevant actors of the financial system.

The aim of mastering the discipline in the context of preparing specialists of a certain specialty. Its relationship with other disciplines of the curriculum.

The aim of mastering the disciplineis the formation of students' sustainable knowledge of theory and practice of insurance organizations' finance.

In the process of teaching the discipline the following tasks are being solved:

• analysis of the dynamics and structure of the insurers' capital;

• study of the characteristics of money circulation of insurance companies;

• review the composition of insurance reserves and the manner of their formation;

• consideration of the order of insurance reserves' placement;

• consideration of profit formation from insurance, financial and investment activities;

• reflecting insurers' taxation;

• lighting the assessment of the insurer's the financial condition and solvency.

The subject of the disciplineis the specific sphere of monetary relations, resulting in the formation, distribution and use of funds and income of insurance organizations.

The course "Finance of Insurance Organizations" has a close structural and logical relationship with such sciences (disciplines) as "Finance", "Insurance", "Risk management in insurance", "Finance Companies", "Corporate Finance" "Insurance Management ".

The list of knowledge and skills, which will come after a student masters the discipline.

As a result of studying the discipline a student will know:

• the economic nature of the insurance organizations' finance and the necessity for its state regulation;

• the features of insurance organizations as entrepreneurs;

• the specifics of the financial resources of the insurance company, their content and components;

• the economic content and classification of cash flows from operating, investing and financing activities;

• the insurance rate as the price for insurance and its structure;

• the essence, meaning and methods of calculation of certain types of technical reserves in life insurance;

• the principles and standards of investment placement of insurance reserves in accordance with the applicable law;

• the economic nature of insurance company's profits;

• the essence of earned insurance premium;

• the mechanisms of forming profit from operating, investing and financing activities;

• the features of the income tax of insurance operations;

• the essence of solvency of the insurance company, the value of state regulation;

• the calculation of the actual and required solvency margin.

will be able to:

• assess the situation and identify ways of improving the regulatory framework governing the financial bases of insurance;

• analyze the capital structure of insurance companies;

• determine the features of the authorized capital of the insurance company;

• differentiate what business transactions relate to operational, financial, investment and other activities;

• analyze the size and structure of insurance reserves;

• count the size of reserve for unearned premiums and reinsurance share in it by means 1/4, 1/24 and 1/365;

• count value of the reserves for losses, loss fluctuations and disasters;

• determine the value of earned insurance premium;

• expect profit margins of insurance, investing and financing activities;

• determine the value of income tax, which the insurer pays;

• analyze the structure and direction of the placement of insurance reserves;

• verify keeping criteria and standards of adequacy, diversification and quality of assets that are the insurance reserves of insurance other than life insurance by the insurer;

• analyze the financial condition of the insurer;

• calculate the actual and required solvency margin;

• use the insurers' financial reports, including specialized ones.

The scope of the implementation of acquired knowledge and skills in the future profession.

Knowledge and skills acquired in the study of this discipline are used in the organization of insurance organizations' finance with the aim to increase the capitalization of the insurance business, insurance premiums, profits from various activities, with the aim of clear planning and effective formation and placement of insurance reserves, the determination of capital adequacy and assets' liquidity. They can be used by graduates as managers in the insurance and reinsurance organizations, underwriters, actuaries, financial analysts, financial consultants, experts, economists, risk managers, civil servants of specialized agencies and researchers.

Summary of the discipline offered for students to study in modules and topics.

Topic 1. The organization of the insurance company's finance.

Topic 2. Cash receipts of the insurers.

Topic 3. Insurance reserves, their composition and order of formation.

Topic 4. Placement of insurance reserves.

Topic 5. The insurer's profit, its formation and distribution.

Topic 6. Taxation of the insurers.

Topic 7. Assessment of the insurer's financial condition.

Teaching staff: O.O. Gamankova, Doctor of economics, Full Professor, A.L. Baranov,Ph.D., Assoc. Prof., O.V.Baranova, Ph.D., Assoc.Prof.

Basic bibliography:

1. O.O. Gamankova. Finance of insurance organizations: Training. guidances. / O.O.Gamankova. - K .: KNEU, 2007. - 328 p.

2. A.L. Baranov. Finance of insurance companies. Workshop: teach. guidances. / A.L. Baranov, O.V. Baranova. - K .: KNEU, 2012. - 215 p.

3.N.G.  Nahaichuk. Finance of insurance companies: teach. manual / N.G. Nahaichuk, A.A Goncharenko; University of Banking of the NBU. - K .: UB NBU, 2010. - 527 p.