United Ajod Insurance Limited Successfully Conducted SGM

The special general meeting of United Ajod Insurance Limited (UAIL) was held successfully on Thursday, Jestha 31, 2081, at the Amrapali Banquet in Kathmandu. The meeting addressed regulatory requirements from the Nepal Insurance Authority, including maintaining a minimum insurance policy and issuing right shares up to 15% of the current share capital. Amendments to the company's articles of association and regulations were necessary following the issuance of bonus shares and changes in the board of directors' representation.

Key decisions included:

1. Issuing 15% shares of the company's charter capital, increasing the company's capital to Rs. 2,41,50,00,000.
2. Forming a board of directors with a 51:49 ratio of founder to common shares, including three directors from each group and one independent director, with a special proposal to include one woman director.

The company's executives reported:

1. Issuance of 202,618 insurance policies by Jestha 29, with an insurance fee of Rs. 2,36,78,77,939.
2. Reduction of outstanding claims to 8,181, amounting to Rs. 1,26,64,94,568, and successfully maintaining remaining claims at 3,737.
3. Efforts to improve business relations and trust with Panarbi insurance companies, which may increase commissions and facilitate agreements in the coming year.