Kathmandu. Siddhartha Premier Insurance has received an ‘A’ category rating. Rating agency ICRA Nepal has given an ‘A’ rating after studying the company’s financial statements.
The company has received an ‘A’ rating because its financial statements are strong. According to the details, the company did a business of 4.45 billion in 2021. It did a business of 4.41 billion in 2022.
Similarly, it did a business of 4.19 billion in 2024, compared to a business of 5.3 billion in 2023. In the first six months of 2025, the company has done a turnover of Rs 1.542 billion.
Manoj Dhaurali, Head of Investment, Risk and Compliance, said that the company has received an ‘A’ rating because it is able to meet its claims and liabilities.
He said, “The company’s ‘A’ rating means that the company is fully capable of meeting its liabilities. This is the first company to receive a rating among the companies established after the Siddhartha Premier Insurance merger. After the merger, our total net worth and earnings per share are higher than those of other companies, which proves that both investment and net worth are high. “
He added, “Foreign reinsurance companies have placed a lot of trust in the company. We have not issued this rating to issue any rights shares and dividends, or to go for an IPO. We have only evaluated the success of the company and its ability to meet its obligations.”
The company has stated that after receiving the ‘A’ rating, the perspective of the company will change and the fear of paying insurance premiums will disappear when it says there are no risks. The company says that it is working to prevent the company from declining from the ‘A’ rating in the coming days and is taking it to a higher level. The company has paid a total of Rs 2.52 billion in flood damage claims, of which Rs 90 million has been paid.
The company has also paid a 30 percent cash dividend to shareholders in the last fiscal year 2080.081. The company has earned a total insurance premium of Rs 2.75 billion 39 million 56 thousand by mid-Falgun, and the number of issued insurance policies is 2711.
This company is the result of the merger of two insurance companies. Siddhartha Insurance and Premier Insurance have merged to form Siddhartha Premier Insurance. Siddhartha Bank holds the largest share of 7.5 percent in the company. Similarly, Ram Lal Shrestha holds 6.2 percent and Bal Krishna Shrestha holds 3.5 percent. The company has 51 percent promoter shares and 49 percent public shares. The company’s Chief Executive Officer (CEO) is Birendra Bahadur Vaidawar Chhetri. He is also the President of the Nepal Insurance Association.
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