National Life achieves mandatory paid-up capital target

Kathmandu: The 35th Annual General Meeting of National Life Insurance passed a resolution to distribute 8% bonus shares of the current paid-up capital. The Assembly has also approved the proposal to give a cash dividend of NPR 19.5 million for the adjustment of capital gain tax on behalf of the shareholders.

In addition to the said dividend, a proposal to distribute an additional cash dividend at the rate of 6.5 percent on the paid-up capital has also been endorsed by the AGM. Its current paid-up capital is NPR 4.64 billion.

After the distribution of the said stock dividend, the paid-up capital will exceed NPR 5.1 billion. A life insurance company must have a minimum of NPR 5 billion paid-up capital.

In the last financial year 2078-079, the total insurance premiums income of the company surged by 15 percent and exceeded NPR 14.4 billion. The life fund increased by 20.84 percent to NPR 50.80 billion. The total investment increased by 19.85 percent to NPR 47 billion.

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