SALICO

SALICO, or elaborately known as Sagarmatha Lumbini Insurance Company Limited, is the result of the merger between Sagarmatha Insurance Company and Lumbini General Insurance Company. After merger, they started joint operation from Falgun 29, 2079 B.S. It is now a leading name in Nepal’s non-life insurance sector. With an extensive network of over 100 branches nationwide, SALICO delivers a wide array of insurance solutions that cater to both personal and corporate needs. Their offerings span property, motor, marine, engineering, aviation, agriculture, and micro insurance, addressing diverse requirements across the country.

Distinctively, SALICO is the only non-life insurer in Nepal to have attracted investment from a foreign entity, with Ceylinco Insurance from Sri Lanka backing the company. This international partnership enhances SALICO’s capacity to provide reliable and innovative insurance solutions.

With a dedicated team of approximately 700 employees, SALICO embodies a strong sense of unity and commitment. The company’s brand promise is centered around creating a cohesive experience for policyholders, ensuring that each customer feels integrated into the SALICO family. Whether in bustling cities or quiet rural areas, SALICO aims to offer unparalleled protection and financial security.

The company’s vision, “Unified to build dreams,” reflects its dedication to fostering a sense of togetherness and trust. Their mission is to offer top-quality insurance coverage while positioning themselves as the preferred choice for risk management, bridging today’s needs with tomorrow’s aspirations.

Non-life Insurance Products

Some of the types of general insurance plans or policies offered by Sagarmatha Lumbini Insurance Company (SALICO) includes:

• Property Insurance: It provides protection against damage to properties caused by various risks such as floods, earthquakes, landslides, storms, explosions, fires, and riots. It ensures that your assets are safeguarded and shields you from events that may be beyond your control.
• Motor Insurance: It covers vehicles against damages and financial losses resulting from accidents. This includes damage to your vehicle, another person’s vehicle, and injury or death of passengers or members of the public. Motor insurance offers two options: a Comprehensive Motor Policy, which provides extensive coverage, and a Third-Party Policy, which focuses on liability. Additionally, it covers vehicle malfunctions, natural disaster damage, theft, accidental damage, medical expenses, and malicious acts.
• Engineering Insurance: It addresses the various risks associated with engineering projects and machinery. It includes several types of coverage:
  • Boiler Explosion Insurance protects against loss or damage to boilers and pressure plants due to explosions or collapses.
  • Contractor All Risk (CAR) Policy covers civil engineering projects like buildings and flyovers.
  • Contractor Plant and Machinery Policy insures machinery and equipment used in construction.
  • Electronic Equipment Insurance provides protection for electronic devices such as computers, printers, and telephone systems.
  • Erection All Risk Policy covers the installation and testing of new machinery.
  • Machinery Breakdown Policy protects against damage to plant and machinery from malfunctions and also covers loss of profit due to damaged or destroyed equipment.
• Marine Insurance: It is designed to protect cargo during transit, whether by sea, air, rail, or road. It covers loss or damage caused by risks such as fire, theft, and accidental damage while the goods are in transit between destinations.
• Aviation Insurance: It offers coverage for aircraft against accidental damage, war-related risks, and third-party liabilities. This includes hull coverage for the aircraft itself and associated risks.
• Miscellaneous Insurance: It provides a broad range of coverage options for various needs. This includes protection for cash in transit, cash in vault, banker’s blanket coverage, theft, household items, travel medical needs, and personal or group accidents.

For more details about their non-life products, you can visit their website: salico.com.np

Reinsurance Support

Idea of insurance is to distribute risk. Therefore, insurance companies further re-insure themselves and transfer their risk. Some of the prominent local and international reinsurance partners of SALICO includes:

• Nepal Re
• Himalayan Re
• GIC Re, India
• SAVA Re, Slovenia
• Swiss Re, Switzerland
• Asian Re, Thailand
• Kenya Re, Kenya
• Ocean International Re, Belize, Central America
• Hannover Re, Germany
• QBE, Australia
• WAICA Re, Sierre Leone, West Africa
• Sirius International, New York and London
• Kuwait Re, Kuwait
• PVI Insurance, Vietnam
• CICA Re, Togo, West Africa

Share Price and Market Analysis

Sagarmatha Lumbini Insurance Company Limited is listed in the NEPSE share market under the symbol SALICO.

For the share price or market analysis along with news of Sagarmatha Lumbini Insurance Co. Ltd. (SALICO), you can check: Mero Lagani, Nepse Alpha, Share Sansar

Branches of SALICO

Below are the list of branches of Sagarmatha Lumbini Insurance Company in various provinces and locations of Nepal.

Contact Details (Head Office)

Website: salico.com.np
Phone: +977-01-4529042, 4529043 Toll Free: 1660-01-66666
Email: [email protected]
Address: Surakshan Bhawan, Bhagwati Marg, Naxal, Kathmandu, Nepal

If you want to know more details about Sagarmatha Lumbini Insurance Company Limited (SALICO), or have some suggestions, you can feel free to write to us.