Seven Non-Life Insurers Announce Dividends

Seven of the 12 non-life insurance companies listed on the Nepal Stock Exchange (NEPSE) have announced dividend proposals for the last fiscal year, 2024/25.

The insurers that have declared dividends are Nepal Insurance, Sagarmatha Lumbini Insurance, Shikhar Insurance, Siddhartha Premier Insurance, Himalayan Everest Insurance, IGI Prudential Insurance, and NLG Insurance.

Of them, six have already scheduled their annual general meetings (AGMs) within Poush (mid-December to mid-January). Himalayan Everest Insurance, which announced its dividend on December 28, has not yet fixed an AGM date. The company has proposed an 8 percent cash dividend, including tax, based on its current paid-up capital.

Siddhartha Premier Insurance has announced the highest dividend among the seven. It has proposed a 25 percent cash dividend, including tax. The company’s paid-up capital exceeds Rs 2.80 billion. In the previous fiscal year, Siddhartha Premier had distributed a 30 percent cash dividend.

The remaining five — Neco Insurance, Rastriya Beema Company, United Ajod Insurance, Prabhu Insurance, and Sanima GIC Insurance — are yet to announce their dividend plans.

The insurance regulator has barred Rastriya Beema Company from distributing dividends.

Among the companies yet to announce dividends, Neco Insurance had distributed 7.37 percent, United Ajod Insurance 10.53 percent, Prabhu Insurance 18.95 percent, and Sanima GIC Insurance 7.89 percent in the previous fiscal year.