Delays in Annual General Meetings Raise Concerns Among Insurance Investors

Kathmandu — A growing number of insurance companies in Nepal have yet to hold their annual general meetings (AGMs), leaving shareholders waiting for financial updates and returns. Even as the current fiscal year nears its end, nine companies are still behind in conducting AGMs for the last fiscal year.

According to market data, delays in actuarial valuation—especially among life insurers—have prevented several companies from finalizing financial reports and calling AGMs. Investors are becoming increasingly concerned about the lack of transparency and accountability.

So far, 20 insurance companies listed on the Nepal Stock Exchange (NEPSE) have completed their AGMs for the previous fiscal year. These include eight life insurers, eight non-life insurers, two micro life insurers, one micro non-life insurer, and one reinsurance company.

Among life insurance companies, Asian Life Insurance, Sun Nepal Life Insurance, Himalayan Life Insurance, and Life Insurance Corporation (LIC) Nepal have not held or conducted their AGMs. Himalayan Life will hold its meeting on Ashar 10 (June 24) at Amrapali Banquet, while Life Insurance Corporation Nepal is scheduled to meet the same day at the Nepal Administrative Training Institute in Jawalakhel, Lalitpur. Similarly, Asian Life will conduct its meeting on Ashar 30 (July 14) at Hotel Ichchha in Simara.

Other life insurers that have completed their AGMs include Suryajyoti Life, Nepal Life, Sanima Reliance Life, Prabhu Mahalaxmi Life, Reliable Nepal Life, Citizen Life, IME Life, and National Life Insurance. Micro life insurers Guardian and Crest have also conducted their meetings.

In the non-life sector, Prabhu Insurance, United Ajod Insurance, Siddhartha Premier Insurance, and government-owned Rastriya Beema Company have not yet held their AGMs. Among them, United Ajod and  Rastriya Beema has announced a meeting—scheduled for Ashar 30 (July 14). As for Rastriya Beema Company, it will be covering fiscal years 2075–76 and 2076–77. The company remains behind on AGMs for the subsequent four fiscal years, drawing criticism for poor financial governance.

On the other hand, non-life insurers such as Himalayan Everest Insurance, IGI Prudential, Nepal Insurance, Sanima GIC, Shikhar Insurance, Neco Insurance, NLG Insurance, Nepal Micro Insurance, and Sagarmatha Lumbini Insurance have held their AGMs and distributed returns based on their capacities.

Of the two reinsurance companies in Nepal, Himalayan Reinsurance—run by the private sector—has already completed its AGM. However, the government-owned Nepal Reinsurance Company has yet to call a meeting for the last fiscal year.

The ongoing delays have prompted concerns from investors who are waiting for dividend announcements and company performance updates. Regulatory authorities are being urged to ensure timely compliance with financial reporting and AGM obligations in the insurance sector.