Prudential Insurance holds AGM

KATHMANDU, APR 11:

Prudential Insurance conducted its 11th annual general meeting on Monday in Birgunj. The AGM discussed the financial report of last fiscal year presented by its chairman Birendra Kumar Shanghai. The insurance firm was able to collect insurance premiums worth Rs 250.30 million in the last fiscal year, an increase by 15.42 per cent as compared to fiscal year 2010-11. It posted a net profit of Rs 30.27 million. The AGM has approved to distribute 25 per cent share dividend and issue rights shares at the ratio of 1:1. Its paid up capital will reach Rs 250 million after the bonus and rights shares, it said. It has reelected Sitaram Thapaliya as the board member representing the general shareholders group.

Source: THT