Access to Finance: Developing the Microinsurance Market in Mongolia

Asian Development Bank (adb)

No RPT135950-2, ADB Reports from Asian Development Bank (ADB)

Abstract: Mongolia experienced a challenging transition from socialist economy to market economy from 1990 onwards. Its commercial insurance market is still at its infancy, with gross written premiums in 2013 amounting to only 0.54% of gross domestic production. ADB undertook this technical assistance study to support microinsurance development in Mongolia. The study provides an overview of the development of Mongolia’s insurance market in general and the microinsurance segment in particular, then identifies gaps in the insurance regulatory framework that need to be bridged to expand microinsurance coverage to more households.

Keywords: adb; asian development bank; asdb; asia; pacific; poverty asia; mongolia; microinsurance; mongolia insurance; mongolia insurance; mongolia finance; mongolia finance; gross written premium; gross written premium; livestock insurance; livestock insurance; savings and credit cooperative; savings and credit cooperative; nonbanking financial institutions; nonbanking financial institutions; microfinance; responsible finance; finance (search for similar items in EconPapers)
Pages: 83 pages
Date: 2014-05, Revised 2014-08-12
New Economics Papers: this item is included in nep-ias and nep-mfd
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