United Insurance 23rd AGM on Poush 26; conducting election of BOD & no dividend this time

United Insurance Company (Nepal) Limited (UIC) will be convening 23^rd Annual General Meeting (AGM) on Poush 26, 2074. The AGM is going to be held at Karki Banquet, Babarmahal, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To conduct election of Board of Directors (BOD).
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2072/73 and appointment of auditor for the FY 2073/74. The insurance company has set the book closure date from Poush 12 to Poush 26, 2074. Thus only those shareholders holding shares till Poush 11, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. Its current paid up capital stands at Rs 30.24 crore. As per Insurance Board’s directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, UIC will need to issue a further capital hike of around Rs 70 crore (around 233.33%). It had earned Rs 1.47 crore in the first quarter of the FY 2074/75. Capital Plan of Insurance Companies: