Research and economic evaluation of the impact of current challenges and threats on the functioning of economic systems

Abstract

Resilience to withstand the destructive impact of the external environment and modern challenges contributes to ensure the economic security of the company. The consequences of the pandemic, military actions in Ukraine, rising inflation, and the transformation of geopolitical processes in the European Union have negatively affected the economic security of insurance companies in Slovakia. The purpose 10 of the study is to assess the economic security of Slovak insurance companies. The study is based on the analysis of profitability, assets and liabilities, premiums, claims and expenses of insurance companies in Slovakia. The forecasting methodology is applied and various scenarios of further functioning of insurance companies in Slovakia, proposed by the National Bank of Slovakia, are analyzed. Insurance companies in Slovakia have sufficient capital, losses in the forecast period can be covered by current profits, and the growth of insurance claims can be transferred to reinsurers. The study found that insurance companies in Slovakia to ensure stability and economic security, and have prospects for further operation and development.