Sagarmatha Insurance endorses 22% bonus shares from its 20th AGM

Sagarmatha Insurance Company's 20th Annual General Meeting (AGM) for the fiscal year 2072/73 was commenced by the chairman Mr. Ram Krishna Manandhar on Poush 27, 2073. Presenting the annual report, the chairman Ram Krishna Manandhar mentioned that there was an increment of 8.86% In the overall business. The company was successful in earning a premium of Rs. 1 Arba 11 Crores 21 Lakhs 22 Thousand and net profit of Rs. 20 Crores 67 Lakhs 54 Thousand attending a growth of 175.48%. The AGM has accepted the proposal of providing 22% stock dividend and 1.157% cash dividend to its shareholders. Till the fiscal year 2072/73 Poush 26, the company has earned an insurance premium of Rs. 64 crore which has made it easier to reach the anticipated goal, as mentioned by the chairman. The strong financial status of the company and the investment of Rs. 100 crores was appreciated by the shareholders. In the occasion, CEO of the company, Mr. Chunky Chhetri, announced that shareholders' trust towards the company has become stronger after the launch of "Sagarmatha VIP On The Spot" policy where the claimants are compensated quickly and at the place of incident. "The response towards this policy is favourable and has aided to the growth of the business inspiring to bringforth the innovative policy in near future."- said Mr. Chunky Chhetri. Besides the head office, the company is operating through 33 branches which will be extended to 42 till the fiscal year 2073/74.