27th June 2025, Kathmandu
Sagarmatha Lumbini General Insurance Company Limited has been awarded the Best Managed General Insurance Company in Nepal. The award was presented at the 9th edition of the NewBiz Conclave and Business Excellence Awards organized by New Business Age Limited in Kathmandu.
Sagarmatha Lumbini Best Managed Award
The company earned this prestigious recognition due to its strong leadership, efficient management, and financial stability. Under the chairmanship of Mr. Manohar Das Mul and the guidance of CEO Mr. Chanki Kshetri, the company has maintained excellent growth even after a major merger.
Strong Financial Performance And Profit Growth
Sagarmatha Lumbini General Insurance posted remarkable financial results in the current fiscal year. According to unaudited financial statements until the third quarter, the company recorded a net profit of over NPR 251.9 million. The gross written premium also crossed NPR 1.91 billion.
These financial achievements highlight the company’s operational strength and growing market presence. Additionally, the company’s total assets reached NPR 16.61 billion by the end of Chaitra (mid-April), reflecting solid asset management.
Robust Paid-Up Capital And Reserve Funds
After merging, the company established a strong capital base. Sagarmatha Lumbini General Insurance currently holds a paid-up capital of NPR 262.38 crore, surpassing the regulatory requirement of NPR 250 crore mandated by the Nepal Insurance Authority.
Many non-life insurance companies in Nepal are still striving to meet this capital threshold. However, Sagarmatha Lumbini Insurance has already complied, enhancing its credibility and financial security.
Moreover, the company maintains a special reserve fund exceeding NPR 255 million and a catastrophe reserve fund of more than NPR 224.9 million. Retained earnings are strong, with over NPR 626.1 million, ensuring liquidity and risk coverage.
Successful Merger Enhances Market Position
Sagarmatha Lumbini General Insurance was created through the merger of Sagarmatha Insurance Company and Lumbini General Insurance Company. The merger became effective on Falgun 29, 2079 (March 13, 2023).
This strategic consolidation helped the company combine resources and expand its market share. It also allowed the company to meet the rising capital requirements imposed by the Nepal Insurance Authority swiftly.
The merger improved the company’s operational efficiency and expanded its product offerings. It also positioned Sagarmatha Lumbini Insurance as a leading non-life insurer in Nepal.
Consistent Dividend Distribution Supports Shareholders
The company has maintained its commitment to shareholders by continuing dividend payments after the merger. In fiscal year 2079/80, the company declared a 5% cash dividend, inclusive of taxes.
In the following fiscal year, 2080/81, it increased dividend distribution to 25%, again including taxes. This consistent dividend payout demonstrates the company’s financial health and shareholder-friendly policies.
The company’s ability to reward investors reflects strong profitability and sustainable business practices.
Experienced Leadership And Strong Corporate Governance
Sagarmatha Lumbini General Insurance operates under an eight-member board of directors chaired by Mr. Manohar Das Mul. CEO Mr. Chanki Kshetri leads the company’s day-to-day operations.
Their effective governance has helped navigate the challenges of merger integration. They focus on transparency, risk management, and customer satisfaction.
Their leadership ensures Sagarmatha Lumbini General Insurance remains a trusted name in Nepal’s insurance industry.
Expanding Insurance Services And Market Reach
The company offers a wide range of general insurance products catering to individuals and businesses across Nepal. Since the merger, it has improved service delivery and expanded its branch network.
By investing in innovation and technology, Sagarmatha Lumbini Insurance aims to provide better insurance solutions to its growing customer base. It also prioritizes customer education about insurance benefits and risk protection.
The company contributes significantly to Nepal’s insurance sector by promoting financial security and economic growth through its products.
Future Growth And Strategic Vision
Sagarmatha Lumbini General Insurance plans to continue its growth trajectory. The company is exploring new markets and digital platforms to reach more customers.
It also aims to enhance operational efficiency and improve claim settlement processes. The leadership team emphasizes sustainable growth and corporate social responsibility.
With a solid capital base, strong leadership, and expanding market presence, Sagarmatha Lumbini Insurance is poised to remain a market leader in Nepal’s general insurance industry.
For more:- Sagarmatha Lumbini Best Managed Award