SuryaJyoti Life Insurance Withholds Dividend for FY 2079/80, Plans Profit Consolidation Post-Merger

SuryaJyoti Life Insurance Company Limited (SJLIC) has declared that it will not be distributing any dividends for the Fiscal Year 2079/80.

The decision was made in the Board of Directors' meeting held on Falgun 10, 2080 where the financial details of the fiscal year 2079/80 were also discussed.

Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited merged in a ratio of 1:0.8245 and are now operating under the name "SuryaJyoti Life Insurance Company Limited." The merger was completed, and the unified business operations began on Poush 7, 2079.

Former Jyoti Life Insurance Company reported profits from Shrawan 1, 2079, to Poush 6, 2079, and these profits have been placed in the reserve fund of SJLIC. Additionally, a decision has been made to consolidate all assets and liabilities, including capital, reserves, investment amounts, and life insurance funds, into Suryajyoti Life Insurance Company Limited.

As of writing, SJLIC has an LTP of Rs. 491.20.