Kathmandu: Sagarmatha Insurance Company has celebrated 26th anniversary today. It is the first foreign joint venture in insurance industry. It was established on 17 July 1996 in joint venture with Ceylinco Insurance Plc of Sri Lanka.
Sagarmatha Insurance is the pioneer company to launch ‘Sagarmatha VIP on the Spot’ service to cater the need of corporate clients with immediate response to motor claim.
In a press release, the company has mentioned, “Since its inception, the company has left its distinctive mark on the Nepali insurance market by introducing innovative products from time to time and has established a situation where there is no need to look back in the progress of the insurance business.”
This company has also expressed its commitment to be more technology-friendly, quality, reliable and dedicated to the services of the insured in the future.
On the occasion of the 26th anniversary, the company expressed its gratitude for the support, cooperation and goodwill received from the customers.
The company has managed to earn Rs.3.1o billion insurance premiums in the last financial year 2078/79. During this period, the company has issued 247 thousand insurance policies. It is serving through 86 branch offices.
During the last 10 years, the company has paid more than Rs. 9.5 billion claims. In the last financial year alone, the company has paid Rs.1.84 billion in claims.