Shikhar Insurance

Established around two decades ago, Shikhar Insurance Company Limited has quickly ascended to prominence in Nepal’s insurance industry. Officially incorporated as a Public Limited Company on Jestha 25, 2061 B.S., and commencing operations on Mangsir 2, 2061 B.S., Shikhar Insurance stands as the 15th non-life insurance company in Nepal. The company’s capital structure includes an authorized capital of Rs. 4 billion and a paid-up capital of over Rs. 2.65 billion with 51% held by promoters and 49% by the general public.

With a robust network of over 110 branches nationwide and a team of over 650 dedicated professionals, Shikhar Insurance commands the highest market share of 13.16% as of the fiscal year 2022/23. The company has consistently been a top performer, boasting several strengths such as being the largest collector of insurance premiums since 2012 and the only company maintaining a market share above 10% during the same period. Shikhar Insurance is renowned for its innovative product offerings, being the first in Nepal to introduce 100% Cashless Health Insurance Services, 35 Critical Illness Insurance, Clinical Trial Insurance, and more. The company has been backed by over 15 re-insurers, some of which are “A-” rated firms.

The company’s mission is to provide policyholders with the best available insurance protection and prompt settlement of claims. Shikhar Insurance aims to set the industry standard by offering quality service that meets customer expectations, driven by a team of service-oriented professionals. Shikhar Insurance’s vision is to address industry challenges by developing client-centric policies at economical prices, introducing internationally benchmarked products, and minimizing the outflow of convertible currency through market capacity building.

As a trusted provider in the non-life insurance sector, Shikhar Insurance continues to lead with confidence and trust, ensuring financial security and innovative solutions for its clients across Nepal.

Non-life Insurance Products

Shikhar Insurance offers a comprehensive range of general insurance services designed to meet various customer needs. Some of its products include:

• Health Insurance: Offers coverage for a wide range of medical expenses with cashless treatment options in 28 hospitals in Nepal and over 4,000 hospitals worldwide.
• Vehicle Insurance: Protects vehicles and covers third-party damage.
• Auto Plus Insurance: Provides full protection for motor vehicles, beyond standard vehicle insurance.
• Travel Medical Insurance: Covers medical expenses for illnesses or injuries sustained while traveling outside the country of residence.
• Agri Insurance: Covers various agricultural activities, including livestock, poultry, fish, paddy, vegetables, and fruits.
• Home Insurance: Covers costs and damages to homes or residential properties.
• Personal Accident Insurance: Provides coverage for accidental injury and death.
• Marine Transit Insurance: Covers shipments of goods transported by sea, road, air, or rail.
• Trekker’s Assistance Insurance: Modified personal accident insurance for trekking.
• Aviation Insurance: Covers aircraft against accidental damage, war and allied risks, and third-party liabilities, including passengers and cargo.
• Property Insurance: Covers destruction or damage to property and its contents.
• Contractors’ All Risk Insurance: Protects contractors, principals, sub-contractors, and lenders against various risks during construction projects.
• Cash Insurance: Covers the loss of money during transit, in safes, vaults, and counters.
• Erection All Risk Insurance: Similar to Contractors’ All Risk, covering risks during the erection of structures.
• Banker’s Indemnity Insurance: Provides comprehensive coverage for institutions with significant financial transactions.
• Group Personal Accident Insurance: Similar to Personal Accident Insurance, but for groups of people.
• Secure Mind Insurance: Mitigates losses for lenders due to borrower defaults caused by uncontrollable circumstances.
• Duty Insurance: Covers duty payments in India or market value differences if insured goods don’t reach Nepal.
• Fidelity Guarantee Insurance: Mitigates losses from employee dishonesty, especially in cash handling and carrying roles.
• “Hole In One” Insurance: Covers prize money or items for golf tournament contestants who achieve a hole-in-one.
• Group Medical Insurance: Reimburses medical expenses for insured groups due to accidental injury or illness.
• Public Liability Insurance: Covers physical injury or property damage caused to third parties by the policyholder or on their premises.

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

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 Shikhar Insurance includes:

• Nepal Re
• Himalayan Re
• ADNIC
• F.A.I.R. Pool (Milli Re)
• GIC Re
• GIC-Bhutan Re
• Hannover Re
• ICICI Lombard
• Kenya Re
• Munchener Rickversicherungs, Germany
• New India Assurance Co. Ltd.
• Ocean Re
• Oman Re
• Sava Re
• Score Global P & C, Switzerland
• SIRIUS INTERNATIONAL
• Swiss Re
• Triglav Re

Share Price and Market Analysis

Shikhar Insurance Company Limited is listed in the NEPSE share market under the symbol SICL.

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

Branches of Shikhar Insurance

Below are the list of branches of Shikhar Insurance in various provinces and locations of Nepal.

Contact Details (Head Office)

Website: shikharinsurance.com
Phone: +977-01-5346101, 01-5346102, 01-5346107
Email: [email protected]
Address: Shikhar Biz Centre, Thapathali, Kathmandu, Nepal
P.O. Box: 10692

If you want to know more details about Shikhar Insurance Company Limited, or have some suggestions, you can feel free to write to us.