Insurance companies’ assets grow by 17.4 percent in 2017

The American Chamber of Commerce in Mongolia

2018-06-14 15:38 GMT+8

On June 13, the Financial Regulatory Commission held a dialogue on the insurance sector’s challenges and solutions.

During the dialogue, participants discussed accessible insurance, challenges in developing the insurance sector, and ways to overcome these challenges. In 2017, the combined assets of insurance companies reached 245 billion MNT, an increase of 17.4 percent year-over-year.

As of the first quarter of 2018, the combined assets of insurance companies grew by five percent, totaling 258.3 billion MNT. During this time, insurance compensation stood at 11.8 billion MNT. Chairman of the Financial Regulatory Commission S. Davaasuren stated, “We have seen tangible progress in the sector over the last two years. However, there is the need to increase investment in the sector and expand the market further.” ​

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