35th AGM of National Life Insurance held
The chair of the assembly stated that there are evidence that the international economy would gradually return to normal following the COVID-19, adding to the world economy's challenges.
KATHMANDU: The 35th Annual General Meeting (AGM) of National life Insurance Company Limited (NLICL) was held on Jestha 22 (June 5) and was chaired by Prema Singh, Chair of the company.
The chair of the assembly stated that there are evidence that the international economy would gradually return to normal following the COVID-19, adding to the world economy’s challenges.
He also stated that the insurance business in our nation is hard, particularly owing to the liquidity crisis, but that due to the numerous initiatives made by regulatory organizations, there has been a considerable growth in the reach of insurance in the year 2078/079.
He hoped that the insurance sector will thrive more in the future days as a result of the Nepalese government’s and regulatory organizations’ cooperation strategies.
All of the company’s financial metrics are positive in 2078/079. The company’s overall insurance fee has increased by 15%, reaching one thousand 440.76 crore rupees.
The life insurance fund grew by 20.84 percent and now stands at 5 thousand 80.42 crore rupees. The overall investment increased by 19.85% to 4 thousand 703.92 crore rupees.
The company is attempting to make the greatest possible investment in long-term deposits in order to stabilize the company’s investment returns. The company’s yearly average rate of return is satisfactory, and it remained at 9.90 percent in fiscal year 2078/079.
The company is now diversifying its interests in conformity with the regulatory body’s investment rules.
The company will strive to grow its investment in real estate and water power in particular. In 2079/080, the procedure of forming a subsidiary investment company will also be continued.
