MICC has released new equity research research on Mandal Daatgal JSC (MNDL) / Mandal Insurance. We coverage on Mongolia’s leading non-life insurer, which holds an 18% market share.
We issue a BUY recommendation with a 12-month target price of MNT 92.11, representing an upside potential of 24% from the closing price of MNT 74.1 as of March 16, 2026. This valuation is grounded in a weighted blend of Price-to-Book (P/B) and Excess Return models.

Full equity research available on Capital IQ (S&P Global Market Intelligence). For more info, contact MICC: brokerage@micc.mn | (+976) 7011-2023.