Life Insurance Corporation Nepal Concludes 23rd AGM, Approves 10% Bonus Shares

Kathmandu – Life Insurance Corporation (Nepal) Limited successfully concluded its 23rd Annual General Meeting (AGM) at the Nepal Administrative Training Institute in Jawalakhel, Lalitpur.

During the meeting, shareholders approved the company’s proposal to distribute a 10 percent bonus share and 0.5263 percent cash dividend for tax purposes, based on the profits of the previous fiscal year.

The AGM also endorsed amendments to the company’s Memorandum of Association, necessitated by the increase in paid-up capital following the bonus share distribution. In addition, the company’s annual report, profit and loss account, and cash flow statement for the last fiscal year were reviewed and approved.

Chairman of the Board of Directors Siddhant Mohanty extended his appreciation to shareholders for their active participation and continued trust in the company.

CEO Pranay Kumar addressed the shareholders’ queries during the meeting and assured that the company’s financial indicators remain strong, and its overall financial health is satisfactory. He emphasized the management’s commitment to enhancing performance through more effective strategies in the future.

The company had closed its shareholders’ book on Ashar 16 for the purpose of the AGM. Accordingly, only those who held shares until Ashar 15 were eligible to participate in the meeting.