Abstract:

The financial crisis did not influence the banking sector only, it also affected the insurance sector to a lesser extent. The aim of this paper is to analyze the impact of the financial crisis on insurance markets in the European Union and to evaluate changes in the approaches to insurance regulation depending on the effects of the financial crisis. A number of regulatory proposals has emerged in the last decade to address the impact of the crisis, to eliminate the trigger of the crisis and to prevent recurrence of the causes of the crisis. The authors assess the development of financial health of insurers in the European insurance markets in the period of lingering financial crisis and draw conclusions based on the analysis of the insurance sector. The methods of panel regression and resulting models were used to achieve the aim of the paper.