UDC 331.56
DOI: 10.36871/ek.up.p.r.2023.09.01.010
Authors
E. A. Makarenko,
St. Petersburg State University of Aerospace Instrumentation,
St. Petersburg, Russia; St. Petersburg Polytechnic University of Peter the Great,
St. Petersburg, Russia
D. A. Oleinik,
Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia
Abstract
The article considers the main list of disadvantages from using only the rating score formed by
Russian rating agencies to analyze the creditworthiness of insurance companies. The main reasons leading
to the distortion of an objective assessment of the level of creditworthiness of domestic insurers are analyzed.
Compiled and analyzed summary information on all Russian insurers in the context of assessments of all
rating agencies accredited by the Central Bank of the Russian Federation. Conclusions are drawn about the
possible causes of deviations in the data obtained according to the default matrix, and the real situations that
have occurred in the Russian insurance market in recent years.
A retrospective analysis of license revocations from insurance companies that had a credit rating from
Russian rating agencies was carried out, conclusions were drawn about the need to increase the volume of
statistical observations and introduce mandatory ratings for insurance companies in order to more correctly
reflect the likelihood of license revocation both in the short and long term.
Keywords
credit rating, central bank, insurance, risk management, licensing, competition, insurance market, default matrix, creditworthiness.
