United Ajod Insurance Concludes 31st AGM, Approves 10% Bonus Share & Rights Issue for Capital Increase
14th July 2025, Kathmandu
United Ajod Insurance Limited successfully held its 31st Annual General Meeting (AGM) at Amrapali Banquet Catering and Event Pvt. Ltd., Bhatbhateni, Kathmandu, where key decisions regarding dividend distribution and capital increment were approved.
United Ajod Insurance 31st AGM
The AGM gave its nod to a proposal for a 10% bonus share distribution, amounting to NPR 210 million. Additionally, a 0.5263% cash dividend (including tax), equivalent to NPR 11,052,000, based on the current paid-up capital of NPR 2.10 billion, was also approved for distribution to shareholders.
In a strategic move to comply with the Nepal Insurance Authority’s directive for non-life insurance companies to maintain a minimum paid-up capital of NPR 2.50 billion, the company had initially planned a 15% rights share issuance.
However, following the increase in paid-up capital due to the approved bonus shares, the rights share percentage has been revised to 10%. This means shareholders will be offered 10 rights shares for every 100 shares held, a proposal that also received approval at the AGM.
Beyond the dividend and rights issue, the meeting also endorsed the annual report for the previous fiscal year, the auditor’s report, and other financial statements. The appointment of an auditor for the current fiscal year and their remuneration were also approved.
Further resolutions passed by the AGM include:
Approval and amendment of remuneration, allowances, and facilities for the Board of Directors.
Authorization for the Board to make necessary amendments to the company’s Memorandum and Articles of Association.
Chairman Mr. Azad Shrestha addressed the meeting, reiterating his commitment to timely future AGMs and highlighting the company’s leadership in institutional strengthening. He expressed gratitude to all shareholders for their active participation and continued trust, acknowledging their support as a vital force behind the company’s progress.
Chief Executive Officer (CEO) Mr. Kamal Gautam engaged with shareholder queries, providing clarifications on points raised in the annual report. CEO Gautam affirmed the company’s strong core financial indicators and satisfactory current financial status, pledging to implement more effective strategies to further enhance the company’s financial performance.
United Ajod Insurance Limited is the result of a successful merger between Ajod Insurance Limited (AIL) and United Insurance Company (Nepal) Limited (UIC).
Established on Jestha 14, 2080 BS (May 28, 2023), the ISO 9001:2000 certified company leverages the combined strengths and expertise of two prominent insurance entities, supported by leading industrialists and reputed trading and commercial houses of Nepal.
The company is dedicated to providing comprehensive insurance solutions and fostering a resilient future for its esteemed customers.
For more: United Ajod Insurance 31st AGM
