Union Life Insurance Proposes 9.1053% Dividends for the Fiscal Year 2077/78

Union Life Insurance Company Limited (ULI) has declared dividends for the Fiscal Year 2077/78.

The 84th Board of Directors meeting of ULI was held on Monday, Poush 12. The Board of Directors has proposed the dividend of the Company for FY 2077/78 and thereby has recommended the distribution of an 8.65 percent bonus dividend and 0.4553 percent cash dividend (for tax purposes). The paid-up capital of the company stands at Rs. 2.15 Arba.

The said bonus dividend will be distributed after approval from the Nepal Insurance Authority (Beema Samiti) and the upcoming AGM of the company.

On Baisakh 29, 2079, in the life insurance scene of the nation, Union Life Insurance, Gurans Life Insurance, and Prime Life Insurance signed the historic merger agreement so as to form a single entity with a strong market presence.

The companies signed the merger deal after the 'Beema Samiti', the regulatory body of the insurance companies instructed all the life and non-life insurance companies to raise their minimum paid-up capital to Rs 5 billion and Rs 2.5 billion by end of Chaitra 2079.