NLIC fund Rs 3b

The life insurance fund of the National Life Insurance Company (NLIC) has reached Rs. 3.2 billion as of mid-July 2008. This was announced during its 21st annual general meeting held in the capital. According to NLIC, it collected premiums of Rs. 708.7 million during the fiscal year 2007/08. Its paid-up capital has reached Rs. 250 million as required by the Insurance Board after the recent issuance of rights shares. The AGM also elected Prema Rajya Laxmi Singh, Raj Kumar Timalsina and Rajiv Bikram Shah from promoters' side and K.H. Rana and Kul Deep Singh from the general shareholders to the board of directors.
Source: eKantipur