January 12: Sagarmatha Insurance Company is distributing 23 per cent bonus. The 20th annual general meeting of the company held on January 11 approved a proposal of distributing 22 per cent bonus share and 1.157 per cent cash dividend to its shareholders.
Ram Krishna Manandhar, Chairman of the company presenting the annual report of the company said that the company increased its business by 8.86 per cent compared to the previous FY. In the review period, the company earned Rs 1.11 billion premium and Rs 206.7 million net profit.
"The customer's claim that has purchased vehicle insurance under the scheme 'Sagarmatha VIP on the spot' will be cleared immediately," said Chankey Chettri, CEO of the company. The scheme was launched aiming to provide quick services to the purchasers of vehicle insurance.
Chettri informed that the company targets to increase its branch network to 42 within the current FY from the present 33 branches and sub-branches.