Citizen Life Insurance Holds 9th Annual General Meeting, Approves 20% Cash Dividend for Shareholders

2nd January 2026, Kathmandu

Citizen Life Insurance Company Limited has successfully concluded its ninth Annual General Meeting marking a significant milestone in its corporate history. Held at the Amrapali Banquet in Naxal Kathmandu the meeting brought together the board of directors and a diverse group of shareholders to review the financial progress of the past year.

Citizen Life Insurance AGM

The assembly served as a vital forum for transparency where the leadership presented detailed accounts of the company operations and strategic direction. As the company formally enters its next phase of growth the 9th AGM stands as a testament to its robust governance and its unwavering commitment to providing consistent value to its investors and policyholders across Nepal.

APPROVAL OF SUBSTANTIAL CASH DIVIDEND PAYOUT

The highlight of the meeting was the official approval of a 20 percent cash dividend for the company shareholders. Based on a solid paid up capital of 5 billion rupees the board of directors proposed a total distribution of 1 billion rupees which includes the necessary taxes as per the prevailing laws. This decision was met with appreciation from the shareholders as it represents a significant return on their investment during the previous fiscal year. The payout reflects the company’s healthy profit margins and its ability to maintain high liquidity while still funding its ambitious expansion plans. Eligible shareholders who held their positions before the book closure on Poush 8 will see these funds credited to their accounts shortly.

FINANCIAL HIGHLIGHTS AND OPERATIONAL ACHIEVEMENTS

During the session the board chairman Mr Pradeep Jung Pandey presented the comprehensive annual report for the fiscal year 2081/82. The report provided an in depth look at the company’s balance sheet profit and loss accounts and cash flow statements. These financial documents revealed a strong upward trajectory in premium collection and investment income. The chairman highlighted that the company has managed to maintain a low expense ratio while significantly increasing its market share in the life insurance sector. This operational efficiency has been a key driver in making Citizen Life one of the most profitable and stable insurance providers in the current Nepalese economic landscape.

REAPPOINTMENT OF AUDITORS AND REGULATORY COMPLIANCE

In adherence to the Company Act 2063 and the guidelines set by the Nepal Insurance Authority the shareholders approved the reappointment of SAR Associates as the external auditor for the current fiscal year. The decision followed a formal recommendation from the Audit Committee ensuring that the company financial reporting remains independent and transparent. The meeting also determined the auditor remuneration for the upcoming year 2082 2083. Such compliance measures are essential for maintaining the trust of institutional investors and regulatory bodies as they guarantee that the company financial disclosures are accurate and follow international accounting standards.

Advertisement

STRENGTHENING GOVERNANCE AND INDEPENDENT OVERSIGHT

The 9th AGM also addressed several critical matters related to corporate governance. In line with the Insurance Act 2079 the meeting approved the appointment of independent directors to the board. These individuals bring a wealth of external expertise and provide an unbiased perspective on the company strategic decisions. Furthermore the assembly reviewed and approved the service benefits for board members and ratified the company’s expenditures on Corporate Social Responsibility projects. By strengthening its internal governance structures Citizen Life Insurance ensures that it remains resilient against market fluctuations and continues to operate with the highest levels of integrity.

COMMITMENT TO SOCIAL RESPONSIBILITY AND COMMUNITY DEVELOPMENT

Citizen Life Insurance has long been a proponent of active social engagement and the 9th AGM reaffirmed this commitment. The company has consistently allocated a portion of its profits toward community development health initiatives and educational support across Nepal. During the meeting the shareholders expressed their support for the various CSR activities conducted over the past year which have provided tangible benefits to underprivileged groups. From disaster relief to financial literacy campaigns the company uses its national reach to promote social well being proving that a successful business can also be a powerful force for social good in the communities where it operates.

FUTURE OUTLOOK AND STRATEGIC DIRECTION

Chairman Pradeep Jung Pandey shared his optimistic vision for the future of the company emphasizing the role of technology in modernizing insurance services. Citizen Life plans to introduce new digital products that simplify the policy purchase and claim process making insurance more accessible to the tech savvy youth of Nepal. The company strong capital base of 5 billion rupees provides a firm foundation for exploring new business avenues and enhancing its sub branch network. As the insurance market in Nepal becomes more competitive the focus will remain on customer retention through superior service quality and innovative life insurance solutions tailored to the needs of the Nepalese population.

CONCLUSION AND NEXT STEPS FOR INVESTORS

In conclusion the ninth Annual General Meeting of Citizen Life Insurance was a resounding success fulfilling its legal and financial obligations toward its stakeholders. The approval of the 20 percent cash dividend serves as a strong signal of the company’s financial health and its dedication to shareholder prosperity. With a clear audit trail and a newly strengthened board the company is well positioned to navigate the challenges of the upcoming fiscal year. Investors and policyholders can remain confident in the strategic direction of Citizen Life as it continues to grow into a leading financial institution in Nepal.

For More: Citizen Life Insurance AGM