KATHMANDU: The Fourth Annual General Meeting (AGM) of Himalayan Reinsurance Limited was successfully held today, on June 8, 2025, at the Nepal Academy Hall, Kamaladi, Kathmandu.

The AGM approved the company’s Annual Report, along with the Auditor’s Report and Financial Statements for the previous fiscal year. It also passed the proposal to appoint an external auditor for the current fiscal year and to determine their remuneration.

One of the major highlights of the AGM was the approval of a 4.5% bonus share issuance on the current paid-up capital of Rs. 10.40 billion, amounting to Rs. 468 million. In addition, a cash dividend of Rs. 24.63 million was approved to cover tax obligations on the bonus shares.

Himalayan Reinsurance is Nepal’s only reinsurance company promoted by the private sector that holds an international rating. The company has been awarded a rating of ‘B+’ by the globally renowned rating agency AM Best.

In its ongoing efforts to build a strong presence in the global reinsurance market, the company has already expanded its portfolio to include clients from over 52 countries. It has also successfully participated in retrocession programs of leading global reinsurance giants such as Lloyd’s of London, Swiss Re, Munich Re, and GIC Re, among others.

Last year, Himalayan Reinsurance made headlines by completing Nepal’s largest-ever Initial Public Offering (IPO) to the general public. Following the IPO, the third AGM had also approved a 4% bonus share distribution, amounting to Rs. 400 million. Despite its large capital base, the company’s consistent ability to distribute dividends exceeding 4% annually is seen as a significant achievement.

Furthermore, the AGM approved amendments and additions to the Memorandum and Articles of Association. It authorized the Board of Directors to make any necessary adjustments in line with future directions from the regulatory authorities.

The current Board of Directors of Himalayan Reinsurance is chaired by Mr. Shekhar Golchha. Other board members include Mr. Amit More, Mr. Sahil Agrawal, Mr. Rohit Gupta, Mr. Rajiv More, Ms. Subhechhya Kharel, and Independent Director Mr. Subhash Kumar Jhunjhunwala. The company is led by Chief Executive Officer Ms. Upasana Poudel.