At the regular meeting of the Board held on July 22, 2022, the Board of Directors of Ard Insurance honored Mr. Ganhuyag’s request to be relieved of his duties as Chairman of the Board. Mr. Odonchied Odbayar, who served as a member of the Board since 2013 was appointed as Chairman during the meeting.
Mr. Ganhuyag has served as Chairman of Ard Insurance since 2013. During his tenure, Ard Insurance grew its finance and business operations drastically. Furthermore, in 2018 Ard Insurance successfully raised capital from an initial public offering becoming the first Joint Stock Company in the Industry in Mongolia. Today Ard Insurance has over 10,000 shareholders.
As of the first half of 2022, the premium income of Ard Insurance reached MNT11 billion, an increase of about 50 percent compared to the same period of the previous year, while compensation of MNT 4 billion was provided to 3,954 policyholders. The company made a net profit of MNT315 million, and its total assets reached MNT36 billion. It has also decided to pay a dividend of MNT1 billion from last year's net profit, and according to the decision, it is working to distribute it to shareholders in July.
