Kathmandu, March 29, 2025 - Citizen Life Insurance Company Limited successfully conducted its 8th Annual General Meeting (AGM) yesterday at Amrapali Banquet, Bhatbhateni, Naxal. The event, held at 11:00 AM, witnessed the presence of shareholders, board members, and stakeholders who gathered to discuss pivotal financial and operational milestones achieved during the fiscal year 2080/81.
Key Highlights of the AGM
1. Financial Performance Review:
The company presented its financial performance for the fiscal year 2080/81. The report highlighted significant growth in revenue, profitability, and market share, showcasing the company’s steady expansion in the competitive life insurance sector.
2. Approval of Dividends:
The AGM approved a 1.42022% cash dividend and a 26.98412698% bonus share distribution for shareholders. This decision reflects the company’s commitment to rewarding its investors while maintaining financial prudence.
3. Appointment of Auditor:
An auditor for the upcoming fiscal year was appointed to ensure transparent and accountable financial practices.
4. Amendment in Paid-up Capital:
The meeting included a critical agenda item to amend the company’s paid-up capital, signifying a move to strengthen its financial base and align with regulatory requirements and business expansion strategies.
5. Revision of Articles of Association:
Amendments to the company’s Articles of Association were discussed and approved, aiming to enhance corporate governance and operational flexibility in line with evolving market dynamics.
Strategic Vision Moving Forward
The amendments to the paid-up capital and the Articles of Association underscore Citizen Life Insurance’s forward-thinking approach to adapt to industry challenges and opportunities. The distribution of substantial bonus shares and cash dividends reflects its strong financial health and dedication to maximizing shareholder value.
The AGM concluded with optimism as stakeholders reaffirmed their trust in the company’s leadership and strategic vision for sustainable growth in the life insurance market.
About Citizen Life Insurance Company Limited:
Founded to provide comprehensive life insurance solutions, Citizen Life Insurance Company has emerged as a trusted name in the Nepali insurance industry. With a focus on customer satisfaction, innovative products, and robust financial performance, the company continues to play a crucial role in securing the future of thousands of Nepali families.
