Nepal Life Insurance Holds 23rd and 24th Annual General Meetings in Birgunj

The 23rd and 24th Annual General Meeting of Nepal Life Insurance, chaired by Mr. Govind Lal Sanghai, was held at Hotel Vishuwa in Birgunj, Parsa. The meeting approved the annual work progress reports, financial statements, and auditor's reports for FY 2078/79 and FY 2079/80. The appointment of auditors and their remuneration for FY 2079/80 and FY 2080/81 were also approved.

A proposal for a cash dividend of 21.05% (including tax) worth Rs. 1,72,79,92,949/- from the distributable profits of 2079/80 was unanimously passed. Additionally, a proposal to amend the board's structure to include directors from both founding and general groups and an independent director was approved.

Chairman Sanghai committed to advancing the company through structural reforms, corporate governance, internal controls, technology adoption, and customer-centric strategies. He emphasized the company's adherence to international professional standards and plans for digital transformation and risk management.

Director Kamlesh Kumar Agrawal and CEO Pravin Raman Parajuli addressed shareholder suggestions and highlighted the company's achievements, including a market share increase to 26.06% in FY 2079/80. Despite economic challenges, Nepal Life Insurance maintained strong performance with Rs. 200.54 Arba in investments, Rs. 189.18 Arba in the life insurance fund, and Rs. 11.66 Arba in shareholders' funds. The company operates through 193 offices nationwide, has issued over 3.55 lakh policies, and remains committed to providing additional services and facilities as needed.