Mandal General Insurance LLC’s reserve fund capital reached MNT 36 billion for the first time in Mongolian insurance sector enabling Mandal to insure highly valuable contract.
Mandal Insurance has acquired this capacity through contracting with globally renowned 5 dual insurance companies led by Qater Re. As a result, Mandal General Insurance LLC is leading Mongolian insurance companies in terms of reserve fund capacity.
CEO of Mandal General Insurance LLC, Ch.Bat-Ider:
“Domestic insurance companies are low in capital which results low reserve fund capacity. Hence, high cost insurance coverage needed to be done abroad dually. However, its troublesome for Mongolian companies to locate their risk on global market and even if we are able to locate the risk, it is not always what we are seeking for.
Upon concluding contract with 5 global leading dual insurance companies led by Qater Re, Mandal General Insurance is now able to insure MNT 36 billion constructions and construction building work.
We are very pleased to acquire this capacity that was missing in Mongolian insurance sector.”
Mandal General Insurance is leader in the Mongolian insurance sector with its capital, one of the fastest growing young companies which can be inferred from company’s main financial indicators.