Bankinsurance: new challenges and development prospects in Ukraine

Abstract
The article reveals the essence of modern bank insurance and new challenges and prospects for development in Ukraine. The definition of "bank insurance" is theoretically substantiated and the general financial and economic characteristics of Ukrainian banks are realized. The normative indicators of commercial institutions are analyzed and the main risks affecting banking and insurance activities and the possibility of their leveling are identified. Theoretical and practical information on the process of merging the capital of banks and insurance companies, financial and economic analysis of one of the largest banks in modern Ukraine - JSC "PrivatBank", and assessed the financial stability of its insurance partners. A study of the insurance market of Ukraine with the definition of possible prospects for cooperation with the studied bank. From the calculations, it was found that PrivatBank can be recommended to find new partners for cooperation between leading companies such as AXA Insurance and Providna. It is established that banking insurance technologies have a significant place at the present stage of development of the domestic financial segment. Using a large customer base and a wide network of branches and outlets, banking experts expect that revenues from the sale of insurance products in 2021 may amount to 15% of total bank revenues, as the volume of bank insurance in "PrivatBank" is growing quite rapidly. The activity of banks in market conditions is subject to its general laws, and therefore requires the development of a viable mechanism for managing financial activities, aimed at increasing the competitiveness of banks. Thus, the ability of bank managers to determine the degree of financial stability of their own bank, competing banks and counterparties plays an important role. Therefore, one of the principles of further rapid development of the banking system of Ukraine is the search for ways to optimize the financial condition of the bank.