Uman National University | today: 06/20/2025
| Author(s) |
Bechko P.K., Candidate of Economics, , Uman National University of Horticulture, Ukraine Vlasyuk S.A., , , Uman National University of Horticulture Трушевський О. О., , , Ясінський О. Р., , , |
||
|---|---|---|---|
| Category | |||
| year | 2025 | issue | Випуск 106 Частина 2 |
| pages | 343-355 | index UDK | 336.71:368.8 | DOI | 10.32782/2415-8240-2025-106-2-343-355 (Link) |
| Abstract | The article explores the globalization processes occurring in the world economy that serve as key drivers in transforming financial relations. A prominent global trend is the convergence of the banking and insurance sectors through the integration of their services to enhance the delivery and efficiency of financial and insurance products. In many developed countries, the concept of cooperation between banks and insurance companies has been effectively implemented within the context of mature and stable financial markets. The study reveals significant regional variations in the cost of mergers and acquisitions in the financial sector. The degree of cooperation between banks and insurance companies across countries and regions is shaped by a combination of factors, including historical traditions of financial relations, national regulatory constraints, and evolving operational conditions in the external environment. A review of methodological approaches to classifying models of bank–insurance cooperation shows that there is no universally accepted taxonomy or consistent interpretation of each model in either domestic or international economic literature. The research findings indicate that such cooperation models are characterized by a set of homogeneous features aligned with specific parameters typical for particular countries or regions. From a geo-economic perspective, three dominant models have been identified: the European (continental), the North American, and the Asia-Pacific models. Some countries apply variations of these models–such as the European model in Central and Eastern Europe, and the North American model in Latin America, North America, and Australia. The article emphasizes the importance of adapting global best practices in bank–insurance cooperation to the national context. | ||
| Key words | bank, insurance company, integration, globalization, financial market, financial institutions, insurance supervision | ||