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Nepal Life Insurance convenes its 20th AGM

11 February 2021

Nepal Life Insurance has convened its 20th AGM on Magh 28, 2077 under the leadership of its chairman Mr. Govinda Lal Shanghai.

The AGM has endorsed all the financial reports and highlights of the previous FY as well as the board’s decision to provide 31% bonus shares and a cash dividend of 20%, as per the media statement. after the capitalization of the proposed bonus shares, the paid-up value of the company will scale up to Rs 7.19 arba, the highest among the insurance companies in Nepal.

The AGM has also unanimously elected new board members for the company who is Mr. Bimal Prasad Dhakal and Mr. Krishna Raj Lamichane representing the public shareholder group. The board meet of the company has promoted Mr. Santosh Prasai into the role of CEO from his existing role of Acting CEO effective from the date of appointment,  as per the media statement.

The leading life insurance company has an investment portfolio of Rs 105.57 arba, life insurance fund of Rs 101.78 arba, shareholder fund of Rs 8.85 arba, more than 200 branches and sub-branches, more than 1.69 trained agents, more than 28 lakh customers, as per the media statement.