Sagarmatha Insurance to distribute 23.75 % bonus share

July 14:  The 19^th annual general meeting (AGM) of Sagarmatha Insurance has endorsed the proposal of distributing 23.75 percent bonus share and 1.25 percent cash dividend for tax provision to its shareholders. The AGM was held under the chairmanship of Ram Krishna Manandhar, Chairman of the company at Trade Tower Nepal, Kathmandu on July 12.

In the AGM, Manandhar presented the annual report of the FY 2071/72 that shows 5.13 percent increment in its total transaction during the year. According to the report, the company has earned Rs 1.02 billion premium and Rs 75 million net profit in the FY 2071/72.

Similarly, Manandhar informed of earning Rs 1.09 million insurance premium by the end of current FY. “A total of 3015 insurance claims have been made for compensation due to the devastating earthquake of last year. Among the claims, 2551 claims have been cleared compensating Rs 1.16 billion to the clients. Remaining claims are in process of clearing,” he informed.

Sagarmatha Insurance has been providing its services through 32 branches with the possible extension in the feasible region in upcoming days.