Others

Reliance Life Insurance (RLI) started its operation in 2017 and offered a wide range of protection and saving plans to meet different life stage requirements of the customers. RLI’s values were based on innovative and cost competitive products, a commitment to quality and timely service, and a hassle-free claims experience for its customers.

Siddhartha Bank had 6.31% promoter shareholding in Reliance Life Insurance.

Later, Sanima Reliance Life Insurance was established following the merger of two dynamic life insurance companies, Sanima Life Insurance and Reliance Life Insurance. The collaborative operations of this entity commenced on March 23, 2023. The organization offers a wide range of high-quality insurance services to its customers, providing them with both risk coverage and financial stability.

Siddhartha Insurance Limited (SIL), established in 2006, was one of the reputed general insurance companies in Nepal with a strong presence in the form of 97 branches. SIL provided a full range of insurance solutions; Property, Marine, Motor, Engineering, Miscellaneous, Aviation, Micro, Medihealth, Travelers Mediclaim Policy, and Miscellaneous Accident Risk to individuals as well as medium to large industries and commercial enterprises. The Company had employed highly qualified and experienced professionals.

SIL was always a customer-focused company, with long-term customer relationships and total customer satisfaction as its most important non negotiable objectives.

The Bank held a 7.54% ordinary shareholding in Siddhartha Insurance and had a representative Director on the Board of SIL.

Later, Siddhartha Insurance Limited and Premier Insurance Co. (Nepal) Limited successfully merged together resulting in the formation of a new insurance company, Siddhartha Premier Insurance Limited. On 1st of March 2023, Siddhartha Premier Insurance Limited commenced its joint operations.

Avasar Equity Limited is a Private Equity/Venture Capital licensed by the Securities Board of Nepal (SEBON). The company is promoted by Siddhartha Bank and few other banks as well as prominent personalities from diverse businesses of Nepal. AEL is an investee-centric organization driven by commitment to help its investee companies achieve their maximum potential. AEL supports the long-term success of its investee companies operating in various industries by connecting them to an array of resources.

Siddhartha Bank holds a 10% promoter shareholding in Avasar Equity Limited.