About us
The largest insurer in Mongolia
Mandal Daatgal JSC
We aim to build a strong business that will create long-term value for our customers, shareholders, and employees. We plan to introduce reforms, new standards, and best management practices in the 80-year-old insurance industry of Mongolia.
VISION
To create a Mongolian brand that competes globally, and is recognized as a world-class financial services franchise
MISSION
Guarantee a brighter tomorrow for every citizen
Our value
One team
One Mandal
One Mandal
Always
lead
lead
Customer
first
first
Build a
legacy
legacy
AM Best Rating of BB+
The first company to receive the Financial Strength Rating and Credit Rating from AM Best Agency in Mongolia.
Insurance Asia Award 2019
Mandal received the Mongolian TOP DOMESTIC INSURER award from the Insurance Asia publication.
Decade of Excellence 2021
Mandal celebrated the first decade of its story with the “DECADE OF EXCELLENCE” award from Global Banking & Finance Review.
Performance highlights
Mandal Daatgal is the leading insurance company in terms of financial performance in Mongolia. We provide robust, timely disclosure through quarterly and annual reports. Learn more about our progress by exploring our financial results.
See our performance
Annual report
Chairman's Statement
Ulziibayar
GANZORIG
Board Chairman & Founder
DEAR CUSTOMERS, SHAREHOLDERS AND PARTNERS OF MANDAL DAATGAL
When we founded the company in 2011, we had an aspiring vision to become the top insurance company. We believe that a leading company in the industry should be a winner in terms of profits and assets and a pioneer in introducing new standards and innovative ethics.
Today, ten years later, we have become a top insurance company in all respects. To mention one example, Mandal has done tremendous work to spread risk education to the public, which is something that any other company has ever done. The secret of our success lies in the fact that we focus primarily on our contribution to society and our country than merely on profits.
Our mission is to create a safe, risk-free environment in which to work and live, for Mongolian citizens and companies alike. In the next ten years, we will move beyond the insurance sector and set an exemplary threshold of moral values, social responsibility and new standards for all companies in our country.
Development of Mongolia cannot be shaped by the deeds of single minister or a chairman, but by humane and ambitious companies that voluntarily take responsibility for their citizens beyond their own business.
Today, ten years later, we have become a top insurance company in all respects. To mention one example, Mandal has done tremendous work to spread risk education to the public, which is something that any other company has ever done. The secret of our success lies in the fact that we focus primarily on our contribution to society and our country than merely on profits.
Our mission is to create a safe, risk-free environment in which to work and live, for Mongolian citizens and companies alike. In the next ten years, we will move beyond the insurance sector and set an exemplary threshold of moral values, social responsibility and new standards for all companies in our country.
Development of Mongolia cannot be shaped by the deeds of single minister or a chairman, but by humane and ambitious companies that voluntarily take responsibility for their citizens beyond their own business.
Management Team
Tumennasan
Batzul
Managing Director
Jadambaasuren
Batchimeg
CEO
Sharavpeljee
Gantuya
Head of Marketing
Enkhtaivan
Bayarchimeg
Chief Operation Officer
Ganbold
Munkhtuvshin
Head of Claim and Services
Munkhbat
Ankhtsetseg
General Auditor
Dorj
Bavuugarid
Head of IT Department
Munkhtuvshin
Munkh-Ulzii
Head of Retail Insurance
Tuvshinjargal
Ariunaa
Head of Risk&Underwriting Department
Bat-Erdene
Chinzorig
Head of Health Insurance Department
Ganbold
Otgonpurev
Head of Corporate sales
Underwriting
To deepen our understanding of the evolving risks that our current and prospective customers face – and provide them with innovative solutions that are in tune with their needs – we continue to reinvest in our underwriting tools and expand our digital capabilities. Our disciplined focus helps us identify trends and patterns, and thereby, delivering tangible value.
Underwriting model
Risk
assessment
assessment
Engineering
team
team
Underwriting
decision
decision
Underwriting
team
team
Insurance terms
and condition
and condition
Actuary and
Underwriting team
Underwriting team
Reinsurance
placement
placement
Underwriting
team
team
TREATY REINSURANCE
In line with the Company’s underwriting policy, liabilities exceeding the underwriting capacity of Mandal are automatically ceded to a reinsurer under treaty agreement. Reinsurance arrangements ensure that we are protected from volatility and large losses while we develop our understanding of the sector. The advantage of this agreement is that it allows the Company to automatically transfer the risk to the reinsurers, according to pre-agreed terms, rather than negotiating the wager of each client separately for each insurance policy that is reinsured.The limits of treaty agreement
| Property and casualty treaty reinsurance | Deductible | Limit per risk | Aggregate limit |
|---|---|---|---|
| Commercial general liability | $200,000 | $1,000,000 | $3,000,000 |
| Professional indemnity | |||
| Special purpose machinery and heavy truck | |||
| Cargo | $2,000,000 | $5,000,000 | |
| Property | $5,000,000 | ||
| Contractors all risk |
3F, Park Place building, Chinggis Avenue – 24,
Sukhbaatar district, 1st khoroo, Ulaanbaatar 14241, Mongolia
Sukhbaatar district, 1st khoroo, Ulaanbaatar 14241, Mongolia
