Key reforms implemented in the aftermath of the 2008-09 financial crisis have created a more flexible and resilient banking sector, just as the economy entered a period of slow growth in 2012. While the sector has expanded dramatically over the past two years, banks faced a liquidity squeeze in 2012 that has reduced the pace of growth. Over the long term, however, Mongolia’s leading banks stand...
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Economic update | Mongolia: Bond gamble heats up
18 Mar 2013
Funds raised through Mongolia’s first national bonds are set to have an impact on the wider economy, with the government announcing in February that fournew major projects will benefit from the so-called“Genghis” bonds. However, critics still fear the issuance could back fire.
Articles & Analysis | Sector overhaul: Underwriters hope new rules will make motor insurance compulsory from The Report: Indonesia 2013
Strong growth in Indonesia’s new vehicle sales in recent years has generated sustained growth in the motor segment. “Car sales have been increasing and in turn motor vehicle insurance has been growing rapidly,” Christian Wanandi, the president director of Jakarta-based general insurance company Asuransi Wahana Tata, told OBG. Yet motor’s share of...
Articles & Analysis | Reassuring growth: Consolidation is expected to boost local reinsurance capacity from The Report: Indonesia 2013
With limited local underwriting capacity, larger risks have traditionally been ceded offshore. The limited capacity of the four local reinsurers has stunted efforts to domesticate more risk, leading to volatile rates. Consolidating and developing reinsurance capacity will thus be crucial to future efforts to develop the industry, while higher...
Articles & Analysis | In the mix: New standards and greater awareness are bringing about a shift from The Report: Indonesia 2013
While life insurance has outperformed the overall market, both domestically and regionally, for a decade, heavy reliance on investment-linked products reveals the sector’s bias towards savings rather than outright protection. A sustained inflow of foreign underwriters, who now dominate the sector, has highlighted the segment’s strong growth...
Interviews & Viewpoints | William Kuan, President Director, Prudential Indonesia: Interview from The Report: Indonesia 2013
How do you assess the overall development of the insurance sector? What drives the industry’s growth?