Sagarmatha Insurance Company Limited
Bhagwati Marg, Naxal, Kathmandu
Message from the Chairman
Sagarmatha Insurance has started its operation from Shrawan 2053 B.S. (1996 A.D.) thus completing its glorious 22 years of Service in the industry. “BIG OR SMALL SECURITY FOR ALL” being our main motto we are very committed to provide quality services to our valued customers.
Insurance being considered as a social device to reduce or eliminate risk of loss to life and property we have been rendering our services from 57 branches / sub-branches and extension counters covering all terrains of the country.
Insurance provide financial support and reduce uncertainties in business and human life. It provides safety and security against particular event. There is always a fear of sudden loss. Insurance provides a cover against any sudden loss. We believe this is the right time to enforce the insurance in every sector by the Government itself for sustainable development.
Insurance customer expect a company to settle claims quickly and to their satisfaction, considering this we have prioritized our service for easy and quick settlement of insurance claims as high customer satisfaction levels can give a company a competitive edge in the market.
As per the Directives issued by Insurance Regulatory Authority “Beema Samiti” minimum Paid-Up capital of Non-Life Insurance Company has to be NPR 1 Billion within end of Poush , 2075. We were not able to declare Annual General Meeting before end of Poush 2075 due to implementation of NFRS in Insurance Sector for the first time. We would like to inform you that the company has proposed Bonus Share equivalent to 86% of current Paid-Up Capital for fiscal year 2075/075 and after passing this proposal by the AGM our capital would be NPR One Billion One Million Two Hundred Twenty Two Thousand and Nine Hundred Thirty Four (NPR 1,001,222,934).
After the new constitution of Nepal came into effect in 2072, three levels of sustainable government has now been established and our nation is proceeding further for the prosperity and to achieve financial prosperity we expect better development and it helps our industry to develop further.
With the belief of customer toward our Company, we have been growing as per our expectations. With the satisfactory result in our current business, we are stretching quickly to extend our service location from 57 to 85 in numbers by the end of Fiscal Year 2075/76. By the expansion, our services can easily reach to our valued customer all over the country.
We live in an age where technology is taking over our world, so as to cope with charging environment it is necessary for insurance sector to step towards the Digital Age. Considering these entire factor, in order to reach our insurance service to each and every individual, we have now successfully launched our Mobile App “Insurance Digitally” with the use of which customer can buy Policies digitally.
Lastly, I would like to thank to our regulatory authority ‘BEEMA SAMITI’, Ministry of Finance, Nepal Rastra Bank, Banks and Financial Institutions, Office of The Company Register, Securities Board of Nepal, Nepal Stock Exchange Ltd, CDS & Clearing Ltd, National and International Insurance and Re-Insurance Companies, Our Stake Holders, Management Team, all the authorities and the Sagarmatha family for providing us your kind cooperation.
Ram Krishna Manandhar