Kathmandu: Nepal Insurance Authority has given nod to Met Life Insurance’s Nepal branch to repatriate cash dividends to its promoter MetLife Insurance, US. A total of NPR 321.19 million(USD 2.43 million) cash dividends for the last financial year 2078-79 have been approved by the Authority.
According to the financial report of MetLife’s Nepal branch, a total of NPR 596.5 million net profit was earned in the last FY. The insurer was allowed to repatriate a total of NPR 265 million cash dividends for the previous FY 2077-78.
The cash dividend of FY 2077-78 is yet to be repatriated to the US amid the delay in approval from the central bank, Nepal Rastra Bank.