United Ajod Insurance Approves 10% Bonus Shares and Rights Issue at 31st AGM

United Ajod Insurance Limited conducted its 31st Annual General Meeting (AGM) at Amrapali Banquet, Kathmandu, approving key financial proposals including a 10% bonus share distribution worth NPR 210 million and a 0.5263% cash dividend totaling NPR 11.05 million based on its NPR 2.10 billion paid-up capital.

To meet the Nepal Insurance Authority's capital requirement of NPR 2.5 billion, the company revised its planned rights share issue from 15% to 10% following the capital increase from bonus shares. Shareholders will now receive 10 rights shares for every 100 shares held.

The AGM also approved the previous fiscal year’s annual and auditor reports, appointed a new auditor, and authorized amendments to the Memorandum and Articles of Association. Changes to the remuneration and facilities for board members were also endorsed.

Chairman Azad Shrestha emphasized commitment to institutional growth and future transparency, while CEO Kamal Gautam assured shareholders of the company’s solid financial position and ongoing strategy enhancements.

Formed from the merger of Ajod Insurance and United Insurance in May 2023, United Ajod Insurance is an ISO 9001:2000 certified non-life insurance company backed by prominent business groups, committed to providing innovative and resilient insurance services.