The 38th Annual General Meeting (AGM) of National Life Insurance Company Limited was held on Wednesday under the chairmanship of Chairperson Prema Singh. The meeting approved a proposal to distribute dividends for fiscal year 2081/082, based on the company’s paid-up capital of Rs 5 arba 47 crore 27 lakh 39 thousand 736.
As approved, the company will distribute an 8.5% cash dividend and 4% bonus shares, taking the total dividend to 12.5%. Accordingly, National Life Insurance will distribute Rs 46 crore 51 lakh 82 thousand 878 in cash dividends and bonus shares worth Rs 21 crore 89 lakh 9 thousand 589. Additionally, the company will provide Rs 3 crore 60 lakh 4 thousand 867 in cash to cover tax liabilities on the dividend distribution.
Following the distribution of 4% bonus shares, the company’s total paid-up capital has increased to Rs 5 arba 69 crore 16 lakh 49 thousand 325, which remains above the minimum requirement set by the regulatory authority.
During the review year, the company’s total investment portfolio increased by 11.04%, reaching Rs 7,790.20 crore by the end of the fiscal year. The company stated that a higher proportion of investments was allocated to long-term deposits to ensure stability in investment returns. The average annual investment return rate for FY 2081/082 stood at 8.76%.
According to Chairperson Singh, the company’s total insurance premium income increased by 10.26% during the year, reaching Rs 2,259.37 crore. From operational activities, Rs 1,498.59 crore in net funds was transferred to total insurance contract liabilities, which increased by 18.83% year-on-year to Rs 9,458.77 crore by the end of the fiscal year.
During the same period, the company paid a total of Rs 948.65 crore toward death claims, maturity claims, partial maturity claims, surrender values, and other insurance-related claims.
As part of its investment diversification strategy, the company purchased 2 crore 80 lakh 12 thousand 447.45 founder shares of Himalayan Bank Limited in fiscal year 2082/083 for Rs 3 arba 33 crore 1 lakh 19 thousand 752.85. Following the acquisition, National Life Insurance’s shareholding in Himalayan Bank has increased to 13.61%.
In addition, the company’s promoted subsidiary, National Capital Limited, obtained the required regulatory licenses and commenced operations. For the first time, the subsidiary distributed a 7% cash dividend for FY 2081/082. The company also stated that it has initiated the construction of a modern commercial building on land fully owned by the company for its Itahari branch.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
