Insurance companies required to increase their share capital in 2018

The American Chamber of Commerce in Mongolia

2018-01-09 17:48 GMT+8

Insurance companies are expected to see their statutory fund/share capital minimum rise to five to six billion MNT by June 30, 2018.

The Financial Regulatory Commission (FRC) first set the minimum capital requirement for general insurance companies at five billion MNT and the requirement for life insurance companies at six billion MNT in 2012.

The FRC's deadline for meeting the capital requirement was December 31, 2016, but insurance companies asked for the deadline to be extended by two years.

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