Analysis of the Impact of Strategic Companies in the Domestic Insurance Market by the Example of the Company "Rosgosstrakh"

In 2014 the list of the largest insurance companies falling under special control due to their significant impact on the development of the domestic insurance market was allocated by the Central Bank of Russia. In a crisis, these companies are able to neutralize the influence of negative trends or adverse effects. On the other hand, this innovation can harm to the interests of policyholders. "Rosgosstrakh" is one of the largest companies in the market, so risks of insurance fraud and abuse of monopoly position is demonstrative on its example. The aim of the research is to build an econometric model, which shows the dependence of the market activities of the largest companies. To achieve this goal was the comparative analysis of methods to assess the stability of the insurance company and assessed the financial stability of the insurance company "Rosgosstrakh". Predictive values helped to identify the risk of losing financial stability in the future. With the help of the criteria provided by the interdepartmental commission for the monitoring of financial and economic state organizations were represented characteristics describing the concept of "strategic company". On the basis of the comparative analysis it has been proven affiliation "Rosgosstrakh" to strategic companies, as well as those analyzed by the insurance companies, which can fall under the definition of strategic company. The concentration index and Herfindahl-Hirschman index were calculated for them. Analysis of the dynamics of the insurance market has allowed to reveal the specifics of the domestic market, which was confirmed by calculations of the concentration parameters. To construct the regression model used by the group of large insurance companies collected over 2015 the largest volumes of insurance premiums by type of insurance, except life insurance. Testing regression model identified the most important factors affecting the volume of insurance premiums.