Problems and challenges in regulating the insurance market of Ukraine in the context of European integration

In Ukraine, the insurance market has historically faced problems with its development, which have been exacerbated by the full-scale Russian invasion. The study of difficulties in this area, assessing the prospects for European integration, remains relevant. The purpose of this study was to provide recommendations for more effective development of the insurance market in Ukraine based on the experience and principles of European countries. The methods that were used in the framework of the study were forecasting, systematisation, formal and legal. The paper assessed the role of the insurance market in the country, described the need for more active development, considering the positive aspects that arise in the case of a high level of development of this institution. It is concluded that significant losses were acquired in the insurance market of Ukraine due to a full-scale invasion of Russia, the causes of losses, and consequences in the future are described. Some opportunities for introducing the latest technologies into the sphere were also noted, both to improve the functioning of the market as a whole, and for its easier implementation in the structure of the European Union. As a result of the analysis of the regulatory framework of Ukraine and the European Union, it was concluded that the norms of EU unification are more stringent. This is conditioned by the stricter regulations described in some directives. Based on the analysis, recommendations have been formulated that can be used in the future to facilitate the European integration of the Ukrainian market. The results obtained in the framework of the study can be used in the development of the national policy of Ukraine for the development of the insurance sector