This chapter includes the following articles.
While insurance in Mongolia remains in its nascent stages, important ongoing reforms may yet drive penetration, build local underwriting capacity and develop the first pool of domestic non-bank institutional investors. While the aggregate sums involved remain modest, buoyant growth bodes well for the medium term. The market is dominated by eight firms, which together account for 89% of non-life premiums. Three underwriters alone account for 54% of the market. New entrants are spurring competition with established players, driving innovation in product development and distribution channels. New rules for private insurers will have to be matched by wide-ranging reform of the states social insurance system. Promoting social acceptance of insurance will be crucial for long-term growth, with underwriters still to overcome distrust of private cover. This chapter contains an interview with T. Batzul, CEO, Mongol Daatgal.