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In modern conditions, the functioning of the world financial insurance system is an objectively necessary attribute of a market economy and provides reliable guarantees for the restoration of violated property rights and interests in cases of losses caused by fire, natural disasters, man-made accidents, transport accidents and other unpredictable cases. The insurance market, which has a significant impact on the socio-economic stability of society, is one of the factors that directly determines the level of economic security of the country. The intensive globalization of the world insurance market requires from the national insurance markets adaptation to the new regime of international trade in insurance services, which is determined by the processes of liberalization of insurance supervision and state regulation of insurance markets. Today, an important task is to assess the causes, forms and trends of globalization of the insurance environment, which will allow optimally to form the direction of development of the insurance market in Ukraine. The article deals with the processes of globalization of the world insurance space and their influence on the domestic insurance market. The modern state of the insurance market of Ukraine is investigated and analyzed. The rating of leading countries and their share in the total amount of world insurance premiums are considered. The analysis of the concentration of the insurance market of Ukraine and the main indicators of its development in dynamics are analyzed. The main external and internal factors of influence on financial stability of insurance companies are characterized. Recommendations on strengthening of financial potential of the insurance market of Ukraine are given. The directions of regulation of the national insurance market with the purpose of forming effective models of management of insurance relations in Ukraine and their adaptation in the conditions of globalization processes are offered.

CURRENT STATE AND PROBLEM ASPECTS OF SUSTAINABLE DEVELOPMENT IN INSURANCE MARKET IN GLOBALIZATION CONDITIONS