Siddhartha Premier Insurance to Hold AGM; Book Closure Announced
21st December 2025, Kathmandu
Siddhartha Premier Insurance Company Limited has officially announced its thirty second Annual General Meeting which is scheduled to take place on Poush 29 2082. The board of directors finalized this decision during a meeting held on Poush 3 2082. The event will be hosted at the Rani Mahal Banquet in Gyaneshwar Kathmandu beginning at eleven in the morning. This assembly is a vital event for the company as it brings together shareholders to review the performance of the institution over the past fiscal year and approve the strategic plans for the coming year. As one of the prominent non life insurance providers in Nepal the decisions made during this meeting will have a significant impact on the financial standing of the company and its market reputation.
Siddhartha Premier AGM
The primary highlight of the meeting agenda is the formal approval of a twenty five percent cash dividend for the fiscal year 2081/82. This dividend proposal was recommended by the board of directors based on the distributable profit of the company. With the current paid up capital of the company standing at two point eight one billion Nepalese rupees the total value of this cash distribution amounts to approximately seven hundred and one point six four million rupees. This payout includes the amount required for dividend tax and it represents a substantial return for the shareholders who have maintained their investment in the firm during a period of market consolidation.
Strategic Objectives and Special Resolutions
Beyond the distribution of profits the thirty second Annual General Meeting will address several special resolutions that aim to expand the business scope of the company. One of the most significant proposals is to amend the objectives of the company to include the operation of collective investment schemes. This amendment will be added under Clause 3 of the Memorandum of Association allowing Siddhartha Premier Insurance to diversify its financial activities and participate in the management of investment funds. This move is consistent with the global trend of insurance companies providing broader financial services to maximize their investment income.
The board will also seek a general authorization from the shareholders to make any necessary amendments to the Memorandum and Articles of Association as required by regulatory authorities like the Nepal Insurance Authority or the Office of the Company Registrar. This ensures that the company can remain compliant with any new directives or suggestions without the need for additional special meetings. Furthermore the assembly will formalize the appointment of an independent director to the board ensuring that the corporate governance of the company meets the high standards expected of a public limited entity.
Financial Accountability and Audit Reports
The meeting will serve as the official platform for the presentation and endorsement of the annual report for the fiscal year 2080/81. Shareholders will be asked to review and approve the profit and loss accounts the balance sheet and the cash flow statements which have been audited by external professionals. These reports provide a detailed look at the premium collection claims settlement and the overall operational efficiency of the insurance provider. The transparent disclosure of these figures is essential for maintaining investor trust and regulatory compliance.
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Additionally the shareholders will participate in the appointment of a statutory auditor for the current fiscal year 2081/82. The assembly will also determine the remuneration for the auditor ensuring that the audit process is conducted by a qualified and independent firm. This regular cycle of auditing is a fundamental part of the financial checks and balances that protect the interests of both the policyholders and the shareholders.
Book Closure and Shareholder Eligibility
To facilitate the dividend distribution and the voting process at the Annual General Meeting the company has announced a specific book closure date. The share register will be closed on Poush 18 2082. This means that only those shareholders who are officially registered in the NEPSE system until Poush 17 2082 will be eligible to receive the proposed twenty five percent cash dividend. Furthermore only those shareholders maintained before the book closure date will have the right to attend the meeting at Rani Mahal Banquet and cast their votes on the proposed agendas.
Investors who are looking to capitalize on this dividend must ensure that their shares are credited to their Demat accounts before the deadline. The company has moved toward electronic dividend payments and the funds will be directly credited to the bank accounts of the eligible shareholders once the AGM provides its final approval. This process ensures that the distribution is handled efficiently and securely reducing the administrative burden on the company and its investors.
Market Context and Future Growth
The announcement of a twenty five percent dividend is a strong signal of the financial health of Siddhartha Premier Insurance. Since the merger that created the current entity the company has focused on leveraging its increased capital to capture a larger share of the non life insurance market in Nepal. The first quarter reports for the current fiscal year show a positive trend in premium growth despite the challenges posed by natural disasters and economic shifts. The decision to expand into collective investment schemes further demonstrates a forward thinking approach to capital management.
In conclusion the thirty second Annual General Meeting on Poush 29 is a landmark event for Siddhartha Premier Insurance Company Limited. With a clear focus on rewarding shareholders through a substantial cash dividend and expanding its business objectives the company is setting a high standard for corporate performance in 2082. Shareholders are encouraged to attend the meeting to engage with the leadership team and gain a deeper understanding of the vision of the company for the future.
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