Sagarmatha Insurance conducts 21st AGM; endorses rights and bonus to meet paid up capital of 1 arba
Sun, Jan 7, 2018 11:55 AM on Latest, Featured, Stock Market,
Sagarmatha Insurance Company Limited (SIC) has conducted its 21st Annual General Meeting (AGM) on Poush 21, 2074 at Bhatvateni of Kathmandu under the chairmanship of company’s chairman Mr. Ram Krishna Manandhar.
In its press statement, the chairman of the company was quoted informing that the insurance company collected the insurance premium of Rs. 1.40 arba And earned a net profit of Rs. 27.62 crore In the fiscal year 2073-74.
It was further informed that the company has raised 81.88 crore as insurance premium by Poush 20 of the current fiscal year and is well in the way to meeting the target. The press note further states that the company has had the investment of more than 1.3 arba and is in sound financial health.
Sagarmatha Insurance Company Limited currently has a paid up capital of 53.82 crore and the AGM has decided its earlier proposal to hike up the capital to meet Insurance Board’s requirement of 1 arba by issuing bonus and right shares to its share holders.
The insurance company is currently serving its customers through 43 branches and 5 extension institutions.
Sagarmatha Insurance Company Limited currently has a paid up capital of 53.82 crore and the AGM has decided its earlier proposal to hike up the capital to meet Insurance Board’s requirement of 1 arba by issuing bonus and right shares to its share holders.
The insurance company is currently serving its customers through 43 branches and 5 extension institutions.
