Life Insurance in Russia: Feasibility of Pension Life Insurance Products in Terms of Risk Management

Nowadays the pension system of Russia does not ensure an adequate level of financial protection for the population of retirement age. There is an urgent need to extend the list of financial institutions, implementing compulsory pension insurance of citizens. Master's thesis on the topic "Life Insurance in Russia: The financial feasibility of the retirement life insurance products in the conditions of the Russian market in terms of risk management" is a simulation of the retirement life insurance product in order to determine its technical profitability, as well as identifying its sensitivity to the list of model incoming factors. The purpose of this paper is to examine the product voluntary retirement life insurance and determining their financial stability. The object of this study is to pension life insurance in Russia. The paper studied the retirement life insurance products, studied the current legislation of the country in the field of life insurance, its possible future changes, the analysis of life insurance products and the key risks faced by insurance companies. In the practical part of the work has been developed and demonstrated the model of earnings for the product, taking into account the possible fluctuations of the active side of the balance and compared with a model built on the basis of the standard method of profit-testing.