New director at NLIC

KATHMANDU:

The 174th meeting of the board of directors of Nepal Life Insurance Company (NLIC) has nominated Vivek Agrawal as its director. Agrawal is also the managing director of United Distributors. NLIC has also announced near 100 per cent dividend for shareholders. The life insurer’s board meeting held on Monday has proposed 70 per cent stock dividend and 28.5 per cent cash dividend of the paid-up capital to the shareholders. The dividend will be distributed after getting approval from Insurance Board and the company’s annual general meeting. Following the dividend distribution, the company’s paid-up capital will reach Rs one billion from the existing Rs 637.5 million. NLIC has collected Rs 3.46 million as insurance premium with life fund worth Rs 15.8 billion, till early April.

Source: THT