Sagarmatha Lumbini Insurance Company Limited (salico)

What Sagarmatha Lumbini Insurance Company Limited (salico) does

Sagarmatha Lumbini Insurance Company Limited (SALICO) is a Nepal-domiciled non-life (general) insurance company formed through the March 2023 merger of Sagarmatha Insurance Company Ltd and Lumbini General Insurance Company Ltd, with unified operations commencing in March 2024. Headquartered at Surakshan Bhawan, Naxal, Kathmandu, the company operates as a Public Limited Company regulated by the Nepal Insurance Authority under Insurance Act 2079 and Insurance Regulation 2081, with paid-up capital of NPR 2.62 billion and net worth of NPR 5.09 billion (FY 2079/80).

SALICO distributes 80+ insurance products across seven core categories — property, motor, marine, engineering, aviation, agriculture, and miscellaneous — plus specialized offerings such as Arogya Health Insurance, Travel Insurance (with Standard/Gold/Platinum tiers), Burglary Insurance, Contractor's All Risk, and the recently launched Parametric Insurance for climate/weather risk and VIP Plus for EV battery coverage. Its technology platform consists of an online portal for policy requests, renewals, and claim filing, alongside premium calculators for motorcycles, private cars, goods carriers, passenger carriers, taxis, travel, and property insurance — basic digital tooling rather than AI-driven underwriting or claims automation.

SALICO earns revenue primarily through insurance premium collection across its non-life portfolio, supported by investment income from its NPR 5.09 billion net worth. Premium collection reached NPR 1.4983 billion in the latest reporting period, with NPR 1.77 billion collected in just the first four months of FY 2081/82. The company serves both personal and corporate customers across Nepal through 120+ branches in all 7 provinces, 280+ licensed insurance agents, an online portal, and strategic partnerships with automotive dealers and industry associations. Reinsurance capacity is sourced from 15+ global and regional partners including Swiss Re, Hannover Re, GIC India, and Nepal Re-Insurance. SALICO employs approximately 637 people, is led by CEO Chanki Kshetri (also President of Nepal Insurers Association) and Chairman Manohar Das Mul, and holds the #1 position in Nepal's non-life insurance market.

Name

Sagarmatha Lumbini Insurance Company Limited (salico)

Legal name

Sagarmatha Lumbini Insurance Company Limited

Website

https://salico.com.np

Company type

Private

Founded year

2023

Operating status

Operating

Short description

SALICO is Nepal's leading non-life insurance company, formed from the 2023 merger of Sagarmatha and Lumbini General insurers. It distributes 80+ general insurance products — property, motor, marine, engineering, aviation, agriculture, and miscellaneous — through 120+ branches across all 7 provinces to retail and corporate customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Premium Collection: Collection of insurance premiums from various non-life insurance products including property, motor, marine, engineering, aviation, agriculture, and miscellaneous insurance. SALICO leads Nepal's insurance sector with NPR 1.4983 Billion in premium collection.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

SALICO is Nepal's leading non-life insurance company formed from the 2023 merger of Sagarmatha Insurance Company Ltd and Lumbini General Insurance Company Ltd. The company offers 80+ insurance products across seven core categories—property, motor, marine, engineering, aviation, agriculture, and miscellaneous insurance—serving both individual consumers and corporate clients through 120+ branches nationwide and a digital portal for online policy requests and claim submissions.

Product overview

SALICO (Sagarmatha Lumbini Insurance Company Limited) is a non-life insurance company in Nepal formed from the 2023 merger of Sagarmatha Insurance Company Ltd and Lumbini General Insurance Company Ltd. The company operates as a unified platform offering a comprehensive portfolio of 80+ insurance products across seven core categories: Property Insurance, Motor Insurance, Marine Insurance, Engineering Insurance, Aviation Insurance, Agriculture Insurance, and Miscellaneous Insurance. The product suite includes specialized policies such as Arogya Health Insurance, Travel Insurance, Burglary Insurance, Contractor's All Risk, and VIP Plus EV battery coverage. The company provides digital tools including premium calculators for motorcycles, private cars, goods carriers, passenger carriers, taxis, and travel insurance, as well as online policy request and claim filing capabilities. With over 120 branches nationwide, SALICO serves both personal and corporate clients across Nepal.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Insurance

Quantifiable outcome

• NPR 1.4983 Billion premium collection - market leading position
• +1 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered minor, major, core and strategic.

• Sudurpaschim RoyalsminorGTM or Marketing Partner · 29 November 2024Insurance partner for Nepal Premier League cricket team. SALICO provides NPR 1 million accident insurance per team member and NPR 100,000 medical coverage.
• General Insurance Corporation of IndiamajorTechnology or IntegrationReinsurance partner providing risk-sharing and capacity support for SALICO's insurance portfolio.
• Hannover RemajorTechnology or IntegrationInternational reinsurance partner from Malaysian Branch providing catastrophe and specialty risk coverage.
• Swiss RemajorTechnology or IntegrationGlobal reinsurance partner from Singapore office providing risk management solutions.
• Himalayan Reinsurance LimitedmajorTechnology or IntegrationRegional reinsurance partner specializing in Himalayan and South Asian risk coverage.
• Nepal Re-Insurance Co. Ltd.coreTechnology or IntegrationDomestic reinsurance partner providing mandatory ceding requirements and local market support.
• Nepal Tourist Transport Business AssociationstrategicStrategic or Co-development PartnerBilateral agreement to simplify insurance claim processes for tourist transport vehicles. Policyholders can receive claim payments easily for vehicle repairs.
• Royal Auto EnterprisesstrategicChannel Partner/ Reseller/ DistributorCashless claim partnership for Mahindra vehicle insurance. Customers can avail quick, easy, and accessible services for vehicle repair and insurance claims at Biratnagar.
• Eastern MotorsstrategicChannel Partner/ Reseller/ DistributorCashless claim partnership for Mahindra vehicle insurance at Itahari location.
• East Auto PointstrategicChannel Partner/ Reseller/ DistributorCashless claim partnership for Mahindra vehicle insurance at Dharan location.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sagarmatha Lumbini Insurance Company Limited (salico)