United Insurance postpones earlier proposed 10% bonus & 100% right shares ; to revise the proposes shares

United Insurance Company (Nepal) Limited has published a notice of postponement of earlier proposed 10 percent bonus and 100% right shares. The company had proposed 10% bonus and 100 percent right shares to its shareholders on Baisakh 10, 2074. As per the notice published in NEPSE today, the proposed right shares and bonus share has been postponed for the revision of the proposal as per the direction of Insurance board. Insurance Board of Nepal (Beema Samiti) had issued a directive to all insurance companies  to increase their paid up capital by the end of fiscal year 2074/75. non-life insurance companies should have a minimum paid up capital of Rs 1 arba by the end of FY 2074/75. UIC had requested the board for the extension of time. United Insurance had earned net profit of Rs 4.89 crore in the fourth quarter of the last fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 30.24crore.