Kathmandu,
Jan. 11
United
Insurance Company Limited and Ajod Insurance Company Limited have signed a
Memorandum of Understanding (MoU) to merge the two companies in to one – United
Ajod Insurance Company Limited.
The
company signed the document on Wednesday. Directors and coordinators of the
merger committees of the United and Ajod - Rabindra Raj Pant and Chiranjivi Dwa
respectively signed the MoU.
Meanwhile,
the 29th annual general meeting of United Insurance Company held
Wednesday in Kathmandu decided to distribute bonus shares worth 5 per cent (Rs.
514.08 million) of the paid up capital of the company, and cash dividend worth
0.26 per cent.
Company's
collection of insurance premium has increased by 42 per cent in the last fiscal
year 2021/22 compared to the previous year and earned Rs. 1.56 billion.
Likewise, the company's profits were increased by 68 per cent to reach Rs. 158
million.
Published in The Rising Nepal daily on 12 January 2022.
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