22nd Annual General Meeting

Posted on 2019-07-04

On Ashar 13^th, Kathmandu. Sagarmatha Insurance Company announced 86% Bonus Share to the shareholders of the company

On Friday in Kathmandu Valley the 22^nd Annual General Meeting announced the distribution of 86% Bonus Share. Mr. Ram Krishna Manandhar, Lok Manya Golchha, Shidhartha Mani Rajbhandari have been elected from Group A and Kirti Kumar Joshi, Gajendra Lal Shrestha have been elected from Group C. The Board of Directors is summed with seven member: five Directors, one Foreign Joint Venture Company Ceylinco Insurance PLC and one Independent Director.

On the Chairmanship of Ram Krishna Manandhar in the company, premium collected in the Fiscal Year 2074/75 is amounted to 1 arba 83 crore 79 lakh which is increased by 30% in comparison to the last fiscal year.

According to the Nepal Financial Reporting Standrad 2017-2018 (NFRS) this year the company has succeeded to earn 33 crore 29 lakh net profit.

Similarly, the company has collected the premium of above 2 arba in current Fiscal Year 2075/76 forth the month of Ashar and forecasted to collect more than 2 arba 15 crore by the end of this Fiscal year.

The CEO of the company Mr. Chunky Chhetri claimed succeed as the first company to report Nepal Financial Reporting Standrad 2017-2018 (NFRS).

The company aims to launch innovative products like VIP on the Spot and Insurance Digitally with the use of technology. Furthermore, expand the coverage of providing service by increasing the number of 56 Branches and Sub-Branches to 85 by the end of this Fiscal Year.