United Ajod Insurance Limited held its 31st Annual General Meeting (AGM) at Amrapali Banquet in Kathmandu, where it approved significant financial proposals, including a distribution of bonus shares at a rate of 10% valued at NPR 210 million and a cash dividend of 0.5263% amounting to NPR 11.05 million, based on its paid-up capital of NPR 2.10 billion.
To comply with the Nepal Insurance Authority’s capital requirement of NPR 2.5 billion, the company modified its planned rights issue from 15% to 10% following the increase in capital from bonus shares. Shareholders will now be entitled to 10 rights shares for every 100 shares owned.
The AGM also ratified the annual and auditor reports from the previous fiscal year, appointed a new auditor, and approved amendments to the Memorandum and Articles of Association. Adjustments to the remuneration and benefits for board members were also authorized.
Chairman Azad Shrestha highlighted the commitment to institutional development and forthcoming transparency, while CEO Kamal Gautam reassured shareholders of the company’s robust financial status and its ongoing strategy improvements.
Founded from the merger of Ajod Insurance and United Insurance in May 2023, United Ajod Insurance is an ISO 9001:2000 certified non-life insurance company supported by prominent business groups, dedicated to delivering innovative and reliable insurance services.
