Sagarmatha Insurance Co. Ltd., First Foreign Joint Venture Company of Nepal in General Insurance industry, incorporated in 1996. Its Joint Venture Partner, Ceylinco Insurance PLC, is a leading insurance company in Sri Lanka. This company is recognized as an industry leader in product innovation, insurance claims management and awarded as one of the top four general insurance companies in Asia competing with over 1,000 insurance companies. Ceylinco received this prestigious award at the fourth Asia Insurance Industry Awards Ceremony 2000, held in the Philippines.
Sagarmatha Insurance Co. Ltd is one of the largest private sector general insurance company in Nepal with a Gross Written Premium (GWP) of Rs. 1,115,232,400 for the fiscal year 2015/16. The company issues over 81,388 policies and settled over 4236 claims during this time period. At the end of fiscal year 2015/16 the company had an Authorized Capital of Rs.500 million, Issued Capital 400 Million and Paid up Capital of Rs.258.36 million, being authorized by Insurance Board of Nepal Compliance with the Insurance Act, 2049.
Managed by a team of experience and dedicated professionals, Sagarmatha Insurance Co. Ltd is expanding its network across the country and is today present in 32 Branches spread across 27 cities with an employee base of over 160 professionals. The Company also has a wide distribution network comprising of corporate agents besides its own direct sales force.