Ready for another company review? See the multi-indicator review of Shikhar Insurance over the last 4 years

Wed, Jul 10, 2019 1:54 PM on Company Analysis, Exclusive, Stock Market,

-ShareSansar

Shikhar Insurance Company Limited

Symbol: SICL

Sector: Non-Life Insurance

Number of Listed Shares: 10,573,106

Introduction

Shikhar Insurance Company, a 15^th Non-Life Insurance Company in the country, was registered in a company register office on 2061-02-15 and in Beema Samiti on 2061-02-26. It is managed by the team of reputed industrial and business houses, who are actively involved in the field of aviation, manufacturing, banking, trading, travel trade, media houses, etc. Altogether there are 131 agents associated with the insurance company, among which 36 are institutions. It is providing its services through 61 branches in various part of the country.

It has the vision to “geared up to face the every challenge that persists in the insurance industry”. To achieve this vision, the company is working with the mission “Guarantees to provide its policyholders the best available insurance protection and prompt settlement of claims when needed”. It has a well-established relationship with various reinsurance market of the world.

Board of Directors

S.No.	Name	Designations	Works and Experiences
1.	Mr. Rajendra Prasad Shrestha	Chairman	An established businessman in the carpet industries of Nepal and involved in travel trade business.
2.	Mr. Rajesh Kumar Luitel	Director	Has been working in Buddha air as a Chief Executive Manager in the Expense Division of the Finance Department.
3.	Mr. Siddhiman Singh Basnyat	Independent Director	Has experience of over four decades in the insurance company.
4.	Mr. Skand Amatya	Director	Managing director of Multi Tading Pvt. Ltd since 2013 and actively involved with various NGOs and INGOs.
5.	Mr. Saurav J.B Rana	Director
6.	Mr. Dinesh Bajra Bajracharya	Director, Public Shareholder	Executive Director of Milan Multipurpose Cooperatives Society Ltd. and Milan Investment Company, and has been actively working as director for various NGOs and private organizations.

(Source: https://shikharinsurance.com)

Management Team

S.No.	Name	Designations
1.	Mr. Dip Prakash Panday	Chief Executive Officer
2.	Mr. Bimal Raj Nepal	General Manager-Claims
3.	Ms. Sabita Maskay	General Manager-Underwriting
4.	Mr. PuskarMahat	General Manager(Marketing)
5.	Mr. Udit Prasad Kafle	Deputy General Manager
6.	Ms. Barishma Acharya (Saud)	Deputy General Manager
7.	Mr. Prajwol Acharya	Deputy General Manager
8.	Mr. Suraj Rajbahak	Senior Manager / Company Secretary

(Source: https://shikharinsurance.com)

Financial Indicators

Particulars	Indicators	FY 2015/16	FY 2016/17	FY 2017/18	Q3 2018/19*
Reserve and Surplus	NPR	420,957,898	266,627,915	242,792,424	410,913,690
Insurance Fund	NPR	458,356,191	635,384,950	851,191,760	1,019,313,060
Net Premium	NPR	1,033,063,148	1,415,275,112	1,773,523,301	1,243,622,880
Net Profit	NPR	306,611,312	360,003,789	431,613,620	336,242,560

(Source: Annual Report and Quarterly Report of the company)

*Note: 2018/19 indicators are of 9 months only, till Chaitra of FY 2075/76

Facts and Figures

Note: Since the data plotted in the above graphs for the last period of 2018/19 include only 9 months data (till Chaitra of 2075), due to which net profit has shown downward trend when compared to net profit of other years. Same goes for other indicators as well.

If the net profit and the remaining other indicators move at the same trend till the end of this year, then the CAGR in 3 years and the above mentioned indicators will be as follows at the end of FY 2075/76.