SuryaJyoti Life Becomes First Life Insurance Company to Hold AGM for FY 2080/81

Kathmandu – SuryaJyoti Life Insurance has become the first life insurance company in Nepal to conduct its annual general meeting (AGM) for the fiscal year 2080/81. The company held its 17th AGM grandly at the Big Hotel in Biratnagar, complying with the regulatory provision that mandates AGMs be completed within six months of the new fiscal year.

The meeting, presided over by the Chairman of the Board of Directors, Keshav Prasad Bhattarai, saw the participation of board members, the Chief Executive Officer, senior management, shareholders, and other distinguished guests. In his opening remarks, Bhattarai emphasized the company’s commitment to sustainable growth and innovation, highlighting the trust of shareholders, the loyalty of customers, and the dedication of employees as the key pillars of its success.

During the AGM, the company’s annual report, including the auditor’s report, balance sheet, profit and loss statement, and cash flow details for the fiscal year 2080/81, was presented. These documents were unanimously approved by the attendees. Additionally, the shareholders endorsed the distribution of a 20% cash dividend for the fiscal year, including taxes. The meeting also approved the expenditures incurred under the company’s Corporate Social Responsibility (CSR) initiatives.

In a move to reinforce the company’s governance, the AGM reappointed Sujan Kafle & Associates, Chartered Accountants, as the official auditor for the fiscal year 2081/82. Furthermore, appointments to vacant positions on the Board of Directors from the founder shareholders’ group were approved, signaling a stronger management structure to drive future initiatives.

The shareholders present at the meeting expressed their confidence in the company’s strategic direction and their optimism about its future performance. All proposals tabled during the AGM were passed unanimously, reflecting a shared commitment to the company’s continued progress.