Kathmandu. Shikhar Insurance Company has published its financial statements as per Nepal Financial Reporting Standard-17, Insurance Contract (NFRS-17).

The insurance company has published its financial statements for the first quarter of the current fiscal year as per NFRS-17.

Shikhar Insurance Company has become the first company in Nepal to implement the financial statements issued by the Accounting Board of Nepal (NEB) in the current fiscal year.

Similarly, the quarterly financial statement as per the directive on financial statement issued by the Insurance Authority has also been published along with the brief financial statement as per NFRS-17.

This achievement marks a historic step for the entire insurance industry in Nepal as it is moving towards transparency, good governance and compliance with global financial reporting standards and standards,” the company said in a statement.

This achievement reflects Shikhar Insurance’s commitment to compliance with existing provisions and dedication to continuous improvement.

It also reaffirms the readiness of the Nepali insurance companies to adopt global best practices and march towards a new era of insurance sector modernization, reliability and professional excellence.