Timetric's 'Governance, Risk and Compliance - The Mongolian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Mongolia. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries. The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Mongolia, including: • An overview of the insurance regulatory framework in Mongolia. • The latest key changes, and changes expected in the country's insurance regulatory framework. • Key regulations and market practices related to different types of insurance product in the country. • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Mongolia. • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations. • Details of the tax and legal systems in the country.
• The report covers details of the insurance regulatory framework in Mongolia. • The report contains details of the rules and regulations governing insurance products and insurance entities. • The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework. • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country. • The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to Buy
• Gain insights into the insurance regulatory framework in Mongolia. • Track the latest regulatory changes, and expected changes impacting the Mongolian insurance industry. • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country. • Understand key regulations and market practices pertaining to various types of insurance product.
• The Financial Regulatory Commission (FRC) of Mongolia is the government regulatory body supervising and regulating the insurance and reinsurance industry. • The FRC does not permit composite insurance in the Mongolian insurance industry. • The government of Mongolia permits 100% foreign direct investment (FDI) in the insurance industry of the country. • The government of Mongolia does not levy any tax on insurance premiums. Corporate income tax is levied at 10%. • The placement of non-admitted insurance is not permitted in Mongolia. However, foreign reinsurers are permitted to promote and sell insurance products in the country.
Table of Contents
1 Introduction 1.1 What is this Report About? 1.2 Definitions 2 Governance, Risk and Compliance 2.1 Legislation Overview and Historical Evolution 2.2 Latest Changes in Regulations 2.3 Legislation and Market Practice by Type of Insurance 2.3.1 Life insurance 2.3.2 Property insurance 2.3.3 Motor insurance 2.3.4 Liability insurance 2.3.5 Marine, aviation and transit insurance 2.3.6 Personal accident and health insurance 2.4 Compulsory Insurance 2.4.1 Workmen's compensation insurance 2.4.2 Motor third-party liability insurance 2.4.3 Deposit insurance 2.5 Supervision and Control 2.5.1 International Association of Insurance Supervisors 2.5.2 The Financial Regulatory Commission (FRC) 2.5.3 Mongolian Insurers Association (MIA) 2.6 Non-Admitted Insurance Regulations 2.6.1 Overview 2.6.2 Intermediaries 2.6.3 Market practices 2.6.4 Fines and penalties 2.7 Company Registration and Operations 2.7.1 Types of insurance organization 2.7.2 Establishing a local company 2.7.3 Foreign ownership 2.7.4 Types of license 2.7.5 Capital requirements 2.7.6 Solvency margins 2.7.7 Reserve requirements 2.7.8 Investment regulations 2.7.9 Statutory return requirements 2.7.10 Fee structure 2.8 Taxation 2.8.1 Insurance premium or policy taxation 2.8.2 Withholding taxes on premium paid overseas 2.8.3 Corporate tax 2.8.4 VAT 2.8.5 Captives 2.9 Legal System 2.9.1 Introduction 2.9.2 Access to court 2.9.3 Alternative dispute resolution (ADR) 3 Appendix 3.1 Methodology 3.2 Contact Timetric 3.3 About Timetric 3.4 Timetric's Services 3.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions Table 2: Mongolia - Insurance Regulatory Framework Key Features Table 3: Mongolia - Life Insurance Regulatory Framework Table 4: Mongolia - Property Insurance Regulatory Framework Table 5: Mongolia - Motor Insurance Regulatory Framework Table 6: Mongolia - Liability Insurance Regulatory Framework Table 7: Mongolia - Corporate Tax Rates for the Financial Year 2016
List of Figures
Figure 1: Mongolia - Insurance Supervision and Control at Various Levels Figure 2: Mongolia - Insurance Regulatory Frameworks for Company Registration and Operation
Global 3D scanning market is expected to be valued at USD 4,900.7 million by 2020, as per a new research report by Radiant Insights, Inc. Increasing need for speedy and precise results with high efficiency is anticipated to drive the industry. 3DRead More...
Global CoQ10 market size was 687.2 tons in 2014 and is expected to reach 1,168 tons by 2020, growing at a CAGR of 9.2% from 2014 to 2020, according to a new study by Radiant Insights, Inc. Increasing scope in personal care applications is expected toRead More...
Global non halogenated flame retardants market size is anticipated to be valued at USD 2.54 billion by 2020, as per a new research report by Radiant Insights, Inc. Increasing safety materials demand owing to low heat & smoke emission properties in cRead More...
Global PP (Polypropylene) nonwoven fabric market size is anticipated to be valued at USD 30.6 billion by 2020, as per a new research report by Radiant Insights, Inc. Growing usage of hygiene products such as incontinence products and baby diapers isRead More...
Global fluorotelomers market size is anticipated to be valued at USD 539.3 million by 2020, as per a new research report by Radiant Insights, Inc. Increasing application scope in fire fighting systems owing to growing safety concerns is likely to driRead More...
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Toll Free: 1-888-928-9744
Email: [email protected]
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.