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The Insurance Industry in Mongolia, Key Trends and Opportunities to 2021

The Insurance Industry in Mongolia, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'The Insurance Industry in Mongolia, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Mongolian insurance industry.It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Mongolian economy and demographics, and provides detailed information on the competitive landscape in the country.The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Mongolia, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Mongolian insurance industry, including:

  • The Mongolian insurance industry's growth prospects by segment and category
  • A comprehensive overview of Mongolian economy and demographics
  • The detailed competitive landscape in the Mongolian insurance industry
  • The various distribution channels in the Mongolian insurance industry
  • Detailed regulatory policies of the Mongolian insurance industry
  • Analysis of natural hazards in Mongolian insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Mongolia:
  • It provides historical values for the Mongolian insurance industry for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key segments in the Mongolian insurance industry, along with market forecasts until 2021.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Mongolia.
  • It profiles the top insurance companies in Mongolia and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Mongolian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Mongolian insurance industry.
  • Assess the competitive dynamics in the Mongolian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Mongolian insurance industry and their impact on companies and the industry's future.
Key Highlights
  • On June 15, 2017, the World Bank approved the Second Energy Sector project for Mongolia, with the development objective of enhancing sustainability and reliability of electricity services in the country.
  • On March 30, 2017, the Financial Regulatory Commission of Mongolia signed a Memorandum of Understanding (MoU) with the Japanese Financial Service Agency to increase foreign investment in the capital market and to strengthen cross-border supervision activities defined in the memorandum.
  • In March 2014, the Mining Infrastructure Investment Support project was approved by the World Bank to assist investments in mining and downstream processing infrastructure support.
  • In 2013, the minimum capital requirement an insurance company was required to maintain was increased to MNT6.0 billion (US$3.0 million) for life insurance companies and MNT5.0 billion (US$2.5 million) for non-life insurance companies. The minimum capital requirement was set at MNT15.0 billion (US$7.6 million) for reinsurers.


  • Key Facts and Highlights
    • Table Mongolian Insurance Industry - Key Facts, 2016
    • Table Mongolia Insurance Industry - Leading Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Mongolian Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Gross written premium
        • Table Mongolian Insurance Industry - Gross Written Premium by Segment (MNT Billion), 2012-2016
        • Table Mongolian Insurance Industry - Gross Written Premium by Segment (MNT Billion), 2016-2021
        • Table Mongolian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (MNT), 2012-2016
        • Table Mongolian Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (MNT), 2016-2021
      • Claims
        • Table Mongolian Insurance Industry - Paid Claims by Segment (MNT Billion), 2012-2016
        • Table Mongolian Insurance Industry - Paid Claims by Segment (MNT Billion), 2016-2021
      • Assets and investments
        • Table Mongolian Insurance Industry - Total Assets by Segment (MNT Billion), 2012-2016
        • Table Mongolian Insurance Industry - Total Assets by Segment (MNT Billion), 2016-2021
        • Table Mongolian Insurance Industry - Total Investment Income by Segment (MNT Billion), 2012-2016
        • Table Mongolian Insurance Industry - Total Investment Income by Segment (MNT Billion), 2016-2021
        • Table Mongolian Insurance Industry - Non-Life Insurance Investment Portfolio (MNT Billion), 2012-2016
        • Table Mongolian Insurance Industry - Non-Life Insurance Investment Portfolio (MNT Billion), 2016-2021
        • Table Mongolian Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (MNT Million), 2012-2016
        • Table Mongolian Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (MNT Million), 2016-2021
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Mongolian Property Insurance - Gross Written Premium (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Property Insurance - Gross Written Premium (MNT Billion and US$ Million), 2016-2021
      • Penetration
    • Motor Insurance
      • Gross written premium
        • Table Mongolian Motor Insurance - Gross Written Premium (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Motor Insurance - Gross Written Premium (MNT Billion and US$ Million), 2016-2021
      • Penetration
    • Liability Insurance
      • Gross written premium
        • Table Mongolian Liability Insurance - Gross Written Premium (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Liability Insurance - Gross Written Premium (MNT Billion and US$ Million), 2016-2021
      • Penetration
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Mongolian Marine, Aviation and Transit Insurance - Gross Written Premium (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Marine, Aviation and Transit Insurance - Gross Written Premium (MNT Billion and US$ Million), 2016-2021
      • Penetration
  • Personal Accident and Health Insurance Outlook
    • Personal Accident Insurance
      • Gross written premium
        • Table Mongolian Personal Accident Insurance - Gross Written Premium (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Personal Accident Insurance - Gross Written Premium (MNT Billion and US$ Million), 2016-2021
      • Penetration
      • Claims
        • Table Mongolian Personal Accident Insurance - Paid Claims (MNT Billion and US$ Million), 2012-2016
        • Table Mongolian Personal Accident Insurance - Paid Claims (MNT Billion and US$ Million), 2016-2021
      • Profitability
        • Table Mongolian Personal Accident Insurance - Loss Ratio (%),2012-2016
        • Table Mongolian Personal Accident Insurance - Loss Ratio(%), 2016-2021
    • Health Insurance
      • Gross written premium
        • Table Mongolian Health Insurance - Gross Written Premium (MNT Billion and US$ Thousand), 2012-2016
        • Table Mongolian Health Insurance - Gross Written Premium (MNT Billion and US$ Thousand), 2016-2021
      • Penetration
  • Reinsurance Outlook
    • Premium Ceded
      • Table Mongolian Reinsurance - Premium Ceded by Insurance Segment (MNT Million), 2012-2016
      • Table Mongolian Reinsurance - Premium Ceded by Insurance Segment (MNT Million), 2016-2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Storms
    • Flooding
    • Droughts
    • Wildfires
    • Earthquakes
    • Exposure
  • Competitive Landscape
    • Table Mongolian - Leading Insurance Companies, 2014
    • Company Profiles
      • Mongol Insurance LLC - company overview
        • Table Mongol Insurance LLC - Key Facts
      • Bodi Insurance LLC - company overview
        • Table Bodi Insurance LLC - Key Facts
      • ARD Insurance LLC - company overview
        • Table ARD Insurance LLC - Key Facts
      • MIG Insurance LLC - company overview
        • Table MIG Insurance LLC - Key Facts
      • Tenger Insurance LLC - company overview
        • Table Tenger Insurance LLC - Key Facts
  • Governance, Risk and Compliance
    • Table Mongolia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Mongolia - Life Insurance Regulatory Framework
      • Property insurance
        • Table Mongolia - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Mongolia - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Mongolia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workmen's compensation insurance
      • Motor third-party liability insurance
      • Deposit insurance
      • Liability insurance for ships with respect to oil pollution
      • Health insurance
      • Social insurance
        • Table Mongolia - Social Insurance Contribution Rates
      • Seed crop insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • The Financial Regulatory Commission (FRC)
      • Mongolian Insurers Association (MIA)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Mongolia - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative Dispute Resolution (ADR)
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Mongolian Life Insurance - Policies and Premium, 2012-2016
        • Table Mongolian Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Mongolian Life Insurance - Claims and Expenses, 2012-2016
        • Table Mongolian Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Mongolian Non-Life Insurance - Assets and Investments, 2012-2016
        • Table Mongolian Life Insurance - Assets and Investments, 2016-2021
    • Non-Life Insurance
      • Policies and premium
        • Table Mongolian Non-Life Insurance - Policies and Premium, 2012-2016
        • Table Mongolian Non-Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Mongolian Non-Life Insurance - Claims and Expenses, 2012-2016
        • Table Mongolian Non-Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Mongolian Non-Life Insurance - Assets and Investments, 2012-2016
        • Table Mongolian Non-Life Insurance - Assets and Investments, 2016-2021
      • Property insurance
        • Table Mongolian Non-Life Insurance - Property Insurance, 2012-2016
        • Table Mongolian Non-Life Insurance - Property Insurance, 2016-2021
      • Property insurance by category
        • Table Mongolian Non-Life Insurance - Property Insurance by Category, 2012-2016
        • Table Mongolian Non-Life Insurance - Property Insurance by Category, 2016-2021
      • Motor insurance
        • Table Mongolian Non-Life Insurance - Motor Insurance, 2012-2016
        • Table Mongolian Non-Life Insurance - Motor Insurance, 2016-2021
      • Motor insurance by category
        • Table Mongolian Non-Life Insurance - Motor Insurance by Category, 2012-2016
        • Table Mongolian Non-Life Insurance - Motor Insurance by Category, 2016-2021
      • Liability insurance
        • Table Mongolian Non-Life Insurance - Liability Insurance, 2012-2016
        • Table Mongolian Non-Life Insurance - Liability Insurance, 2016-2021
      • Marine, aviation and transit insurance
        • Table Mongolian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
        • Table Mongolian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Mongolian Personal Accident and Health Insurance - Policies and Premium, 2012-2016
        • Table Mongolian Personal Accident and Health Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Mongolian Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
        • Table Mongolian Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Mongolian Personal Accident and Health Insurance - Assets and Investments, 2012-2016
        • Table Mongolian Personal Accident and Health Insurance - Assets and Investments, 2016-2021
      • Personal accident insurance
        • Table Mongolian Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
        • Table Mongolian Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
      • Health insurance
        • Table Mongolian Personal Accident and Health Insurance - Health Insurance, 2012-2016
        • Table Mongolian Personal Accident and Health Insurance - Health Insurance, 2016-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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