Abstract
<jats:p>The article provides a comprehensive assessment of product diversification and revenue management efficiency of an insurer under conditions of wartime economy, inflationary pressure, and strengthened prudential supervision by the National Bank of Ukraine. It is substantiated that amid increasing market concentration (the TOP-10 non-life insurers account for about 71% of total premiums) and a rise in the gross claims ratio to 39.3%, a balanced insurance portfolio structure becomes a key determinant of financial stability. The dynamics of the main indicators of the Ukrainian insurance market for 2021–2024 are analyzed, including gross premiums, claims ratio, return on equity, and portfolio structure by insurance classes. The study identifies an excessive concentration in the motor insurance segment (over 55% of total premiums), which increases sensitivity to inflationary and regulatory risks. It is demonstrated that sector profitability is largely driven by investment income, while underwriting margins remain minimal or even negative. Special attention is paid to voluntary health insurance as an instrument of qualitative diversification and income stabilization in the context of growing demand for socially oriented insurance products. The key risks affecting revenue management—namely inflationary, financial, operational, regulatory, and cyber risks—are identified, and the need for systematic improvement of tariff policy, portfolio structure, distribution channels, and risk management practices is substantiated. A phased model of financial stabilization of an insurer is proposed, including restoration of solvency, achievement of financial sustainability, and ensuring long-term financial equilibrium through portfolio optimization and digitalization of business processes. The findings may be used in developing insurers’ revenue management strategies and improving financial management under macroeconomic instability.</jats:p>