LIC Nepal’s 14th AGM

KATHMANDU: Life Insurance Corporation (LIC) Nepal organised its 14th annual general meeting (AGM) here, on Tuesday. The AGM ratified the balance sheet and the income and expenditure statement for the fiscal year 2015-16. It also passed the resolution to distribute 25 per cent bonus shares from the profit made in the review period, as per a media release. The decision to provide 1.32 per cent cash dividend for tax purposes was also ratified by the AGM. Kumar Keshar Bista was also unanimously elected to represent the ordinary shareholders in the board of directors. In fiscal 2015-16, LIC Nepal was able to sell 149,796 new policies and collect premium worth over Rs 1.81 billion.