Seeking Alpha: Thoughts on Mongolia Growth Group’s Mandal Insurance Unit

Mongolia Growth Group only needed $5 million to become the best-capitalized insurance company in Mongolia. The fact is that the penetration of the insurance market to-date in Mongolia is minimal. To understand why there are not any major international insurance companies opening an insurance business in Mongolia, consider that the size of the population in Mongolia is about the population of Chicago. Now, take the population of Chicago and spread that population over the size of a country a little smaller than Alaska, and make the average annual income less than $5,000, with those below the median annual wages earning less than $3,600 per year. Add to that, a local language that is unique to the country’s small market size. To read the full article, click hereThoughts on Mongolia Growth Group’s Mandal Insurance Unit

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