20th Annual General Meeting of Nepal Life Concluded

Kathmandu. Nepal Life Insurance Company Limited has concluded its 20th Annual General Meeting.

The 20th Annual General Meeting held in Birgunj on Wednesday passed a resolution to distribute 31 percent bonus share of paid up capital and Rs. 20 (including tax) cash dividend per share to the shareholders. After the distribution of bonus shares, the paid up capital of the company will be 7,19,99,70,661 in the life insurance sector.

Presenting the annual report at the general meeting held under the chairmanship of Govinda Lal Sanghai, he congratulated all concerned for achieving the highest market share of 30.09 percent in the total premium income during the year under review.

The company has passed a proposal to change the existing face value of Rs 100 per share to Rs 50 per share for easy access of small investors to the company’s shares.

The company has taken the policy of expanding and diversifying the investment in the areas of sustainable and reliable investment within the scope of the investment guideline issued by the Insurance Committee. As it is necessary to increase capital investment to maintain balance between assets and liabilities, the company has moved forward with the goal of making concrete work towards long-term capital investment in different cities of the country.

Also, from the 315th meeting of the Board of Directors held on Tuesday, Magh 27, it has been decided to appoint the acting Chief Executive Officer of the company Santosh Prasai as the Chief Executive Officer and send it to the Insurance Committee for approval.

At present, the company has an investment of Rs 105.57 billion, a life insurance fund of Rs 101.78 billion and a shareholder fund of more than Rs 8.85 billion. The company has more than 1,69,487 trained agents. The company has so far insured more than 2.8 million people, including in foreign employment.