Life Insurance Corporation Nepal (LICN) Convenes 18th AGM (Minute with Chairman's Message Inside)

Life Insurance Corporation Nepal Limited (LICN) has conducted its 18th AGM on Falgun 25, i.e. March 09. The meeting was held in LIC Nepal, Naxal, Kathmandu, starting at 10:30 am that day.

Among other proposals, the AGM endorsed the dividend for the fiscal year 2075/76. Life Insurance Corporation (Nepal) Limited (LICN) 108th Board Meeting will now distribute a 10.5263% dividend including 10% bonus shares and 0.5233% cash dividend (tax purpose) for the FY 2075/76. The existing paid-up capital of the company is Rs 2.01 Arba. The current paid-up capital of LICN is Rs 2.01 Arba and after the bonus adjustment, the new capital will be Rs 2.21 Arba.

Furthermore, Since the term of public director, Kumar Keshar Bista has expired, the AGM unanimously elected Komal Agrawal to bear the vacant post.

Company Chairman Mr. MR Kumar thanked all investors who participated in the AGM for their time and feedback. He stated that the company will conduct the 19th AGM for FY 2076/77 as early as possible. Explaining that the company's performance was good in the second quarter of this fiscal year, he assured investors that the company would keep providing outstanding returns. Kumar stated that he was pleased to serve the country as an insurance provider and promised that the company would keep being a service-oriented and exemplary entity in the sector.

Board members Mukesh Kumar Gupta, Ashok Kumar Agrawal, Kumar Keshar Bista, VK Kukreja, and Laxmi Prasad Das were also present at the AGM.