ICRA Nepal Reaffirms A Rating For Siddhartha Premier Insurance
3rd August 2026, Kathmandu
Siddhartha Premier Insurance Limited has been assigned an A rating by ICRA Nepal, reaffirming the strong financial health, sound risk management practices, and robust ability of the company to meet its financial obligations.
ICRA Nepal Reaffirms A-Rating
The rating agency also removed the insurer from its previous Rating Watch with Negative Implications status.
According to ICRA Nepal, entities awarded an A rating are considered to have a strong capacity to meet financial commitments and carry a low level of credit risk.
Stable Profitability Supports Financial Strength
The rating reflects the consistent financial performance of Siddhartha Premier Insurance over recent years.
The company has maintained stable profitability, recording:
- 2022: Net profit of NPR 674 million
- 2023: Net profit of NPR 660 million
- 2024: Net profit of NPR 688 million
- 2025: Net profit of NPR 756 million
During the first nine months of 2026, the insurer reported a net profit of NPR 400 million, demonstrating continued financial resilience.
Strong Insurance Premium Collection
Siddhartha Premier Insurance has maintained healthy premium collections across its operations.
The company generated gross written premiums of NPR 2.70 billion during the first nine months of 2026.
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Previous annual gross written premium collections include:
- 2022: NPR 4.415 billion
- 2023: NPR 5.003 billion
- 2024: NPR 4.192 billion
- 2025: NPR 4.285 billion
Net written premiums reached NPR 1.301 billion during the first nine months of 2026, compared to:
- 2022: NPR 1.71 billion
- 2023: NPR 1.939 billion
- 2024: NPR 1.844 billion
- 2025: NPR 2.124 billion
Formed Through Strategic Merger
Siddhartha Premier Insurance Limited was established in March 2023 following the merger of Siddhartha Insurance Limited and Premier Insurance Company Nepal Limited.
The corporate headquarters of the company is located in Babarmahal, Kathmandu.
As of mid April 2026, major shareholders of the company include:
- Ramlal Shrestha: Approximately 6.2 percent shareholding
- Siddhartha Bank Limited: Approximately 5.7 percent shareholding
- Bal Krishna Shrestha: Approximately 3.5 percent shareholding
The ownership structure of the company consists of 51 percent promoter shareholding and 49 percent public shareholding.
Nationwide Operational Presence
Siddhartha Premier Insurance operates through a network of 128 branches across Nepal, providing a wide range of non life insurance services to customers nationwide.
The ICRA Nepal A rating reinforces the strong financial foundation of the insurer and reflects confidence in its ability to manage risks while fulfilling policyholder obligations effectively.
For More: ICRA Nepal Reaffirms A-Rating
