klg - Nepal Stock Exchangenepalstock.com.np/uploads/files/company/70d2533d6dea797d7a8ea… ·...

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11775.60

15505.2120248.35

26484.40

33559.60

2069/70

16th

Annual Report2073/74

2070/71 2071/72 2072/73 2073/74

*figures shown in million

hLjg aLdf sf]if – lg/Gt/ a[l4

(A Joint Venture of Life Insurance Corporation of India)

Table ofContents

jflif{s ;fwf/0f ;ef ;DaGwL ;"rgf V

;fwf/0f ;ef ;DaGwL ;fdfGo hfgsf/L VI

cWoIfHo"af6 k|:t't k|ltj]bg | Chairman's Message 4

;+rfns ;ldltsf] k|ltj]bg | Director's Report 7

n]vf k/LIfssf] k|ltj]bg | Auditor's Report 18

jf;nft | Balance Sheet 20-21

gfkmf gf]S;fg lx;fa | Profit & Loss Account 22-23

PsLs[t cfo Joo lx;fa | Consolidated Reveunue Account 24-25

;fjlws hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Endowment Policy 26-27

clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Joo lx;faRevenue Account of Anticipated Endowment Policy) 28-29

?kfGtl/t ;fjlws hLjg aLdfsf] cfo Joo lx;faRevenue Account of Modified Endowment Policy) 30-31

cfhLjg hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Whole Life Policy 32-33

DofbL hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Term Policy 34-35

ljz]if DofbL hLjg aLdfsf] cfo Joo lx;faRevenue Account of Special term policy 36-37

cGo hLjg aLdf -Psn aLdfz'Ns_ sf] cfo Joo lx;faRevenue Account of other policy (Single Premium) 38-39

cGo hLjg aLdf -a}b]lzs /f]huf/ Psn aLdfz'Ns_ sf] cfo Joo lx;faRevenue Account of other policy (O.E. Single Premium) 40-41

cGo hLjg aLdf -n3' Psn aLdfz'Ns _ sf] cfo Joo lx;faRevenue Account of other policy (Micro/Group Micro Term Insurance) 42-43

gub k|jfxsf] ljj/0f | Cash Flow statment 44-45

OSo"6Ldf ePsf] kl/jt{g ;DaGwL ljj/0f | Details of changes in Equity 46-47

cg';"rL | Schedule 48

aLdf ;ldltsf] ;xdlt kq | Approval Letter of beema samiti 102

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-ef/tLo hLjg aLdf lgudsf] ;+o'Qm nufgLdf :yflkt_

skf]{/]6 sfof{noM kf]=a=g+=M @!()%, rf}yf] tNnf, :6f/ dn, k'tnL;8s, sf7df8f}+, g]kfnkmf]gM $)!@^!#, $)!@^!$, km\ofS;M (&&–!–$)!@^!%, O–d]nM [email protected]

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ldlt M @)&% ;fn r}q $ ut] ;f]djf/ -tb\g';f/ !* dfr{, @)!(_

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-!_ cWoIfåf/f ;+rfns ;ldltsf] jflif{s k|ltj]bg @)&#÷)&$ k|:t't u/L cg'df]bg ug]{ .

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/lhi6«f/ sfof{noaf6 lgo'Qm dbg lg/f}nf P08 sDkgLsf rf6{8 PsfpG6]G6 >L dbg lg/f}nfsf] lgo'lQmnfO{ cg'df]bg ug]{ .

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ljt/0fkl5 sfod x'g cfpg] bzdnjkl5sf] c+snfO{ ;DalGwt z]o/wgLsf] gfddf kl5 ;dfof]hg ug]{ ul/ oyfjt /fVg] .

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sfd aGb /xg]5 . ldlt @)&%÷!!÷@! ut]eGbf cl3Nnf] lbg;Dd g]kfn :6s PS;r]Gh ln= jf l;l8P; P08 lSnol/Ë ln= df z]o/

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cfwf/df z]o/ bflvn vf/]h eO{ z]o/wgL btf{ lstfadf sfod tyf l;l8P; P08 lSnol/Ë ln= df k|rlnt lgod adf]lhd sfod

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;DalGwt lwtf]kq Joj;foLnfO{ cg'/f]w ul/G5 .

@= ;fwf/0f ;efdf efu lng cfpFbf z]o/wgL dxfg'efjx¿n] cfkm\gf] kl/ro v'Ng] sfuhft, ;efsf nflu hf/L ul/Psf] k|j]zkq / s'g} Ps

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dfq ;ef sIf leq k|j]z ug{ kfO{g]5 . cGoyf ;ef :yndf k|j]z kfOg] 5}g .

#= ;efdf efu lngsf nflu k|ltlglw -k|f]S;L_ lgo'Qm ug{ rfxg] z]o/wgLn] k|ltlgwL–kq -k|f]S;L kmf/fd_ e/L ldlt @)&%÷!@÷)! ut]

#M)) ah]leq sDkgLsf] z]o/ zfvf, skf]{/]6 sfof{no, :6f/dn -rf}yf] tNnf_, k'tnL;8s, sf7df08f}df btf{ u/fO;Sg' kg]{5 .

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ug{ jf k|ltlglw tf]Sg kfpg] 5g\ .

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^= k|ltlgwL -k|f]S;L_ lgo'Qm ul/;Sg'ePsf] z]o/wgL cfkm} ;efdf pkl:yt eO{ xflh/L lstfadf b:tvt ug'{ ePdf cl3 lbOPsf] k|f]S;L :jtM

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b]lvPdf ;'/IffsdL{n] ;'/Iff hf“r ug{;Sg] ePsf] x'“bf ;f] sfo{df ;xof]u ul/lbg' x'g ;d]t cg'/f]w ul/G5 .

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Corporate Information

Registered Office - Kathmandu Metropolitan City Kathmandu, Nepal

Corporate Office - Star Mall, Putalisadak, P.O.Box:21905, Kathmandu, Nepal

Principal Activities - Life Insurance Business

Chief Executive Officer - Mr. L.P. Das (with effective from 29 Jan., 2019)

Company Secretary - Mr. Binod Kumar Bhujel

Consultant Actuaries - Mr.M.G.Diwan & Mr. Akshay Pandit M/s K.A.Pandit and Co. Consultant Actuaries 2nd Floor, Churchgate Hourse Veer Nariman Road, Fort, Mumbai

Auditors-External - CA, B.K.Agrawal B.K. Agrawal & Co. Chartered Accountants

Auditors-Internal - CA, Rajanish Dahal M/s Dev Associates Chartered Accountants Patan Dhoka, P.O.Box 252, Lalitpur

Lawyers - Sr.Adv.Mithlesh Kumar Singh Singh Law Company Ram Kunj, Tripureswor, Kathmandu

Bankers - Bank of Kathmandu Ltd, Kathmandu Nepal SBI Bank Ltd. Kathmandu

Re-insurer - M/s Hanover Re, Malaysia

Pan No. - 500213148

Incorporated in Nepal Under the Companies Act 2053 with Reg.No. - 765/057-58

Registered with Beema Samiti on - 2058/04/23

>L x]dGt efu{j ef/tLo hLjg aLdf lgud -PncfO{;L_ sf jt{dfg sfo{sf/L cWoIf OGrfh{ x'g'x'G5 . cy{zf:q ljifodf :gftsf]Q/ pkflw xfl;n ug'{ePsf >L efu{jn] PncfO{;Ldf ;g\ !(*! Dff clws[t:t/af6 ;]jf cf/De u/L aLdf, dfs]{l6Ë, dfgj ;+;fwg / ljQ If]qdf #* aif{eGbf a9Lsf] sfof{g'ej ;+ufNg' ePsf] 5 . pxf“sf] ljz]if1tfsf] If]qx? Business Strategy, Business Development, Process and Systems, Leadership Development, Branding & product development, Micro Insurance, Office Service Operations and Informational technology /x]sf 5g\ .

>L aL= j]0f'uf]kfn, ;+rfnsk|aGw lgb]{zs, ef/tLo hLjg aLdf lgudB. Venugopal, DirectorManaging Director, LIC of India

>L s]/nf ljZjljBfnoaf6 Cost Accounting & Commerce df :gftsf]Q/ pkflw xfl;n ug'{ ePsf >L jL= a]0f'uf]kfn ef/tLo hLjg aLdf lgud -PncfO{;L_ sf jt{dfg k|aGw lgb]{zs x'g'x'G5 . >L a]0f'uf]kfnn] ;g\ !(*# df ef/tLo hLjg aLdf lgud -PncfO{;L_ df clws[t:t/af6 ;]jf cf/De ug'{eof] . #^ jif{eGbf nfdf] cjlw hLjg aLdf ;]jfdf sfo{ ug'{ePsf >L a]0f'uf]kfn;“u ;"rgf k|ljlw, ljhg]z /0fgLlt, kl/of]hgf Joj:yfkg, a}+sf:of]/]G;, ljQ / n]vf, k'gla{df, nufgL / dfs]{l6Ë If]qdf ljz]if sfof{g'ej /x]sf] 5 .

>L czf]s s'df/ cu|jfn lazfn u|'k ckm OG8:6«Lhsf k|aGw lgb]{zs x'g' x'G5 . jfl0fHo zf:qdf :gfts pkflw xfl;n ug'{ ePsf >L cu|jfn Emerging Nepal Limited, k|'8]lG;on OG:o'/]G; sDkgL ln= / k|'8]lG;on Soflk6n Dofg]hd]G6 k|f= ln= sf] jt{dfg 8fO{/]S6/ ;d]t x'g'x'G5 . laut #) aif{b]lv Jofkf/, pBf]u, ljlQo / ;]jfsf If]qx¿df ;+nUg /xg' ePsf >L cu|jfn g]kfn ;d'Gb|kf/ lgsf;L k}7f/L ;+3 (NFTA) sf] k"j{ cWoIf x'g' x'G5 . o;sf ;fy}, PgcfO{;L Pl;of a}+s, d}gfjtL :6Ln OG8:6«Lh k|f=ln, :jb]zL n3'ljQ ljlQo ;+:yf ln=, sdnf /f]lnË ldN; k|f= ln= / uf]/wGbf; sdnfjlt k/f]ksf/L k|lti7fgdf klg cfa4 eO{ sfof{g'ej ;+ufNg' ePsf] 5 .

>L s'df/ s]z/ lji6n] ;g\ @$ d] @)!^ af6 klAns 8fO/]S6/sf]?kdf sfo{ ul//xg' ePsf] 5 . o; aLdsdf cfpg' k"j{ pxf“ k|fOd nfOkm OG:of]/]G; sDkgLdf klAns 8fO/]S6/ x'g'x'GYof] . >L lai6n] Cost and Management Accountancy (Institute of Cost Accountants of India, 1988) df k|f]km];gn l8u|L xfl;n ug'{ ePsf] 5 . ljljw ;+:yfx¿sf] ljQ Joj:yfkgdf pxf“n] #& jif{eGbf al9sf] sfof{g'ej lnO;Sg' ePsf] 5 . ;g\ ! d] @)!# b]lv xfn;Dd pxf“ Deputy Team Leader of Crown Agents/DFID df ;d]t sfo{/t x'g'x'G5 . >L lji6n] Ministry of Local Development/ /UNDP, WYG International/ /UK, Asian Development Bank/ /Manila, LBFC/ /DASU-DANIDA, United Nations Capital Development Fund, World Food Program Office Nepal, Transparency International Nepal, Economic Analysis Division of Ministry of Finance h:tf ;+:yfx¿df Financial Management Expert and Analyst sf] ?kdf sfo{ ul/;Sg' ePsf] 5 .

;+rfns ;ldlt | Board of Director's

>L x]d+t efu{j, cWoIfcWoIf OGrfh{, ef/tLo hLjg aLdf lgudHemant Bhargava, ChairmanChairman In-charge, LIC of India

>L czf]s s'df/ cu|jfn, ;+rfnsk|aGw lgb]{zs, ljzfn u'|k lnld6]8Ashok Kumar Agrawal, DirectorManaging Director, Vishal Group Ltd.

>L s'df/ s]z/ lji6, ;+rfns;j{;fwf/0f z]o/wgL ;d"xaf6Kumar Keshar Bista, DirectorPublic Nominee

rf6{8 PsfpG6]G6sf] pkflw xfl;n ug'{ ePsf >L le= s]= s's\/]hf M/S S.P. Chopra & Company Chartered Accountants d'DaO{, ef/tsf at{dfg Joj;flos rf6{8 PsfpG6]G6 x'g'x'G5 . pxf“n] #) aif{;Dd hLjg aLdf If]qdf sfd u/L uxg cg'ej ;+ufNg' ePsf] 5 . >L s's\/]hfn] ef/tLo hLjg aLdf lguddf ;g\ !(*@ af6 ;]jf cf/De ug'{eof] / l8;]Da/ #), @)!@ df ;]jf lga[t x'bf“ lgudsf] sfo{sf/L lgb]{zs -laQ / n]vf laefu_ x'g'x'GYof] . o;sf] cnjf >L s's\/]hfn] lgudsf] cGo dxTjk"0f{ kbx¿ h:t} PncfO{;L Do'r'cn km08sf] l8k'6L hg/n Dofg]h/, PncfO{;Lsf] North, North Central/West Zones sf] Regional Manager (Finance & Accounts) / Investment Department k|d'v tyf sfo{sf/L lgb]{zssf] ?kdf ;kmntfk"j{s lhDd]jf/L ;dfNg' ePsf] lyof] .

>L nIdL k|;fb bf;, ;+rfns Pj+ k|d'v sfo{sf/L clws[t

Laxmi Prasad Das, DirectorDirector/Chief Executive Officer

>L nIdL k|;fb bf;sf] hLjg aLdf If]qdf @& aif{sf] sfof{g'ej /x]sf] 5 . PdlaP;Ddsf] cWoog k'/f ug'{ePsf >L bf;n] ;g\ !((@ df ef/tLo hLjg aLdf lgud -PncfO{;L_ df clws[t:t/af6 ;]jf cf/De ug'{ePsf] lyof] . >L bf;n] PncfO{;L g]kfnsf] ;+rfns tyf k|d'v sfo{sf/L clws[tsf] lhDd]jf/L @( hgj/L @)!( b]lv ;Dxfln/xg' ePsf] 5 . pQm lhDd]jf/L lng'eGbf cl3 pxf“ ef/tLo hLjg aLdf lgud -PncfO{;L_ sf] e'jg]Zj/ l8lehgn sfof{nodf l;lgo/ l8lehgn Dofg]h/sf]?kdf sfof{/t x'g'x'GYof] . >L bf;n] Pn=cfO{=;L= ckm Ol08ofsf] ;'rgf k|ljlw, dfgj ;+;fwg, k|zf;g, dfs]{l6¨ nufot k|foM ;j} ljefudf sfo{ u/L cg'ej ;+ufNg' ePsf] 5 .

al/i7 Aoj:yfkg ;d"xSenior Management Team

>L le=s]=s's\/]hf, :jtGq ;+rfnsV.K.Kukreja, Independent Director

>L Pn=kL= bf;k|d'v sfo{sf/L clws[t

L.P. DasChief Executive Officer

>L >Lv08 >]i7gfoa k|aGws

Shreekhanda ShresthaDeputy Manager

>L clelht 3f]if bl:tbf/gfoa k|d'v sfo{sf/L clws[t

Abhijit Ghosh DastidarDeputy Chief Executive Officer

>LdtL l;h{gf g]kfngfoa k|aGws

Mrs.Sirjana NepalDeputy Manager

>L ;+hLj s'df/ cu|jfnk|aGws -cfO{=l6=_

Sanjeev Kumar AgrawalManager (IT)

>L ljlkg s'df/ nfn;xfos k|aGws

Bipin Kumar LalAssistant Manager

>L :d[lt /fh s0f]n;xfos k|aGws

Smriti Raj KandelAssistant Manager

Dear Shareholders, Ladies and Gentlemen,

On behalf of the LIC Family, I extend my warm greetings to all of you present in this 16th Annual General Meeting of Life Insurance Corporation Nepal Limited. I am delighted to present to you a brief report about activities and major accomplishments achieved during the financial year 2016/17.

Nepali insurance sector is on a thriving phase and business of insurance is reaching out to many parts of the country which were hitherto outside the radar of the insurance companies. The interest of general public towards insurance is also on the rise.

Financial Year 2016-17 had been water shed year for your Company in many financial and non-financial parameters. Your Company achieved a spectacular growth in all aspects. This was possible only due to careful planning by the management, execution by the administrative staff and hard work of field force and ably guided by the Board. It may be noted that during this period the country as a whole had been passing through many economic and social challenges. Liquidity had been scarce and that had affected all sectors of economy. Despite subdued economic scenario across the sectors, your company could show growth in almost all aspects.

Premium income of any insurance company is one of the prime indicators of its financial health. It gives me immense pleasure to inform you that your Company could collect NRs 8709.05 Million total premium in the financial year 2016-17 which was NRs. 7070.11 Million in financial year 2015-16. This way total premium income has shown 23.18 % growth during the year. This growth is distributed across both first premium (NRs 2633.49 Million, growth 16.26%) and renewal premium (NRs. 6075.56 Million, growth 26.45%).

cfb/0fLo z]o/wgLx¿, dlxnf tyf ;Hhga[Gb Û

;d:t Pn=cfO{=;L= kl/jf/sf]tkm{af6 nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] !^cf}+ aflif{s ;fwf/0f ;efdf pkl:yt ;j}nfO{ Gofgf] clejfbg Pj+ :jfut ug{ rfxG5' . oxfF pkl:yt z]o/wgLx¿dfem PncfO{;L g]kfnsf] cf=a= @)&#÷&$ sf] jflif{s ljlQo ljj/0fx¿ ;+lIfKt?kdf pNn]v ug{ kfp“bf v';Lsf] cg'e"lt ul//x]sf] 5' .

g]kfnsf] aLdf If]q ljsf;f]Gd'v cj:yfdf /x]sf] 5 . sDkgLx¿sf] sfof{no kx'“r gk'u]sf b]zsf tL ljleGg :yfgx¿df klg aLdf Jofkf/ e}/x]sf] b]Vg ;lsG5 . b]zsf gful/sx¿df aLdfk|ltsf] cle?rL lg/Gt/ a9\bf] cj:yfdf /x]sf] 5 .

tkfO{+x¿sf] of] sDkgL ljljw ljlQo tyf u}/ljlQo dfkgx¿af6 x]l/+bf cf=a= @)&#÷&$ 7"nf] k|fKtLsf] aif{ /xg uPsf] 5 . oxf“sf] sDkgLn] ;j} kIfx¿df pTs[i6 a[l4 xfl;n ug{ ;kmn ePsf] 5 . of] ;kmntf ;+rfns ;ldltsf] plrt dfu{lgb]{zg, Joj:yfkgsf] /fd|f] of]hgf, k|zf;sLo sd{rf/Lx¿sf] sfo{;Dkfbg / jhf/df cxf]/fq d]xgt ug]{ lkmN8kmf];{ ldqx¿sf] of]ubfgaf6 k|fKt ePsf x'g\ . xfdLx¿ ;j}nfO{ cjut ePs} s'/f xf] ls pQm aif{ ;d:t b]z ljljw cfly{s / ;fdflhs r'gf}tLx¿af6 u'lh|/x]sf] lyof] . t/ntfsf] cefj sfod /xL To;n] /fli6«o cy{tGqdf k|efj kf/]sf] lyof] . x/]s If]qdf k|lts"n cfly{s kl/b[io ljBdfg /x“bf klg, tkfO{+x¿sf] of] sDkgLn] k|foM ;j} kIfx¿df /fd|f] a[l4b/ k|fKt ug{ ;kmn ePsf] hfgsf/L u/fpg rfxG5' .

s'g} klg hLjg aLdf sDkgLsf] aLdfz'Ns cfh{gnfO{ Tof] sDkgLsf] ljlQo cj:yf a'em\g] Pp6f pQd ;'rsf+s dflgG5 . d ;xif{ oxf“x¿sf] sDkgLn] cf=a= @)&#÷&$ df ?= *&)=() s/f]8 s"n aLdfz'Ns cfh{g u/]sf] hfgsf/L u/fpg rfxG5' h'g cf=a=@)&@÷&# df ?= &)&=)! s/f]8 /x]sf] lyof] . o;/L cf=a= @)&#÷&$ df s"n aLdfz'Ns cfh{gdf @#=!*Ü sf] a[l4b/ k|fKt x'g uPsf] 5 . of] a[l4b/ k|yd aLdfz'Ns cfh{g -?= @^#=#$ s/f]8, a[l4b/ !^=@^Ü_ / gljs/0f aLdfz'Ns -?= ^)&=%% s/f]8, a[l4b/ @^=$%Ü_ b'j}df xfl;n ePsf x'g\ .

cWoIfHo"af6 k|:t't

k|ltj]bgChairman's

MESSAGE for 16th Annual General Meeting

16 th ANNUAL REPORT 5

hLjg aLdfsf] csf]{ ;Dkfbg ;'rsf+s eg]sf] Tof] sDkgLn] slt aLldtx¿nfO{ ;]jf lbO/x]sf] x'G5 eGg] xf] . of] ;'rsf+ssf] cfwf/af6;d]t tkfO{+x¿sf] sDkgL b]zsf] Ps cu|0fL hLjg aLdf sDkgL xf] . @)&$ cfiff9d;fGt;Dddf tkfO{+x¿sf] of] sDkgLn] &,@),$%) hgf aLldltx¿nfO{ hLjg aLdf ;]jf k|bfg ul//x]sf] 5 .

tkfO{+x¿sf] of] sDkgLn] nufgL gLltnfO{ sf]ifsf] pRrtd\ ;'/Iff / plrt k|ltkmn k|flKtsf] l;4fGtnfO{ cjnDag ub{5 . cf=a= @)&#÷&$ df tkfO{x¿sf] o; sDkgLn] nufgLdf clxn];Dds} pRr k|ltkmn xfl;n u/]sf] 5 . pQm jif{ s'n nufgLdf k|fKt cfDbfgL ?= @@@=!# s/f]8 /x]sf] lyof] h'g utaif{sf] t'ngfdf $%=$#Ü n] a[l4 ePsf] xf] . Psftkm{ cfDbfgLdf /fd|f] a[l4b/ b]lvG5 eg] csf]{tkm{ vr{sf] If]qdf pNn]vgLo

sdL b]Vg ;lsG5 . cf=a= @)&@÷&# df Joj:yfkg vr{ cg'kft ^=%(Ü /x]sf]] lyof] eg] cf=a= @)&#÷&$ df of] cg'kft cem em/]/ %=^^Ü df cfof] h'g g]kfnsf] hLjg aLdf sDkgLx¿dWo]df cToGt Go'g xf] .

cfDbfgLdf a[l4 / vr{df sdL cfPsf sf/0f sDkgLsf] hLjg aLdf sf]ifdf ;s/fTds a[l4 ePsf] 5 . d oxf“x¿sf] sDkgLn] cf=a= @)&#÷&$ df hLjg aLdf sf]ifdf ?= ##%%=(^ s/f]8 hDdf ug{ ;s]sf] ;xif{ hfgsf/L u/fpg rfxG5' h'g cf=a=@)&@÷&# df ?= @^$*=$$ s/f]8 /x]sf] lyof] . o;/L cf=a= @)&#÷&$ df hLjg aLdf sf]ifdf @^=&!Ü sf] a[l4b/ k|fKt ePsf] 5 . oL ;j} ;s/fTds ;'rsf+sx¿n] o; sDkgLsf] bL3{sflng ljsf;df of]ubfg k'/\ofpg] 5g\ . oL tYox¿ aLdfÍLo d"NofÍg k|ltj]bgdf b]Vg ;lsG5 . ;f] k|ltj]bgdf cf=a= @)&#÷&$ sf nflu sDkgLsf] ;f]Ne]G;L dflh{g @=(! /x]sf] 5 hals lgodgsf/L lgsfoaf6 tf]lsPsf Go'gtd\ ;f]Ne]G;L dflh{g !=% xf] .

sDkgLsf] cf=a= @)&#÷&$ sf] aLdfÍLo d"Nofs+g - @)&# >fj0f

! b]lv @)&$ cfiff9 d;fGt;Ddsf] _ >L aLdf ;ldltaf6 :jLs[t eO{ k|fKt ePsf] 5 . @)&$ cfiff9 d;fGt;Ddsf] aLdfÍLo d"Nofs+gn] s"n gfkmf /sd ?= !#=$( s/f]8 xfd|f z]o/wgLx¿sf] vftfdf b]vfpg ;kmn ePsf] 5 . ;+rfns ;ldlt a}7ssf] lg0f{o cg';f/ sDkgLn] d'gfkmfaf6 z]o/wgLx¿nfO{ sDkgLsf] at{dfg r'Qmf k"FhLsf] !@=^#Ü nfef+z lbg] k|:tfj u/]sf] 5 h; cGtu{t !@Ü af]g; z]o/ / ;f] af]g; z]o/ lnP afkt g]kfn ;/sf/nfO{ a'emfpg' kg]{ s/ afktsf] /sd k|of]hgfy{ )=^#Ü gub nfef+z k|:tfljt 5g\ . o; ul/dfdo ;efdf o; sDkgLsf] xfnsf] clws[t k"FhL, hf/L k"FhL / r'Qmf k"FhLnfO{ a[l4 u/L ?= !,$(,$*,#*,*)) k'/\ofpg ;d]t k|:tfj k]z u/]sf 5f} .

o; sDkgLn] kl/kSjtf nfe e'QmfgL, lhlat nfe e'QmfgL / d[To' bfaL k"0f{?kn] ;Dkfbg÷km5\of]{6 ug{ ;kmn eO{ k"gM bfaL e'QmfgL ;Dkfbgdf g]kfnsf] hLjg aLdf pBf]ud} Ps pRrtd\ dfkb08 sfod ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpg rfxG5' . ((Ü tL bfaLx¿ aLdf lgodfjnLsf] Dofbleq} e'Qmfg ul/Psf] tYon] ;f] pknlJwdf cem ;'uGw

The other performance parameter of a life insurance company is the number of policies that are being serviced by it. On this count as well your company is one of the leading companies of the country. As on 15th July 2017, your company was providing life insurance services to 7,20,450 policyholders.

Investment of your company had been based on a principle of utmost security of fund and reasonable return. I am happy to inform you that investment income of your company had touched record high during this financial year. The total investment income of your company had been NRs. 2221.35 Million which is a 45.43 % growth over previous year. While the income side had been showing healthy growth, the expenditure side had shown a considerable decrease. As against 6.59% management expenses ratio of Financial Year 2015-16, in the year 2016-17 management expenses ratio came down to 5.66%, which is one of the lowest in the industry.

Increase in income, decrease in expenses had resulted in growth of life fund. It gives me immense pleasure to inform you that as on 15th July 2017, the life fund of your company stands at NRs 33559.60 Million as against NRs. 26484.40 Million in the preceding financial year. This is 26.71% growth in life fund. All these positive indicators had contributed into ensuring long term sustainability of your company. This gets reflected in the Appointed Actuary’s valuation report, wherein solvency margin of 2016-17 is 2.91 as against requirement of 1.5 by the Regulator.

The Company's Actuarial Valuations for 2016/17 (from Shrawan 1, 2073 to Ashad end, 2074) has been approved. After the Valuation, the Company has shown a net profit of NRs. 134.97 million under Shareholders Account. The Board of Directors has proposed 12.63% of paid up capital as dividend. Out of this profit, 0.63 % to be apportioned as cash dividend for adjustment against tax liabilities on dividends and 12% as bonus shares. The Board has also proposed to increase the Authorized Share Capital, Issued Share Capital & Paid-up Share Capital of the Company to NRs. 1494.8388 Million.

Again, your Company has set benchmarks for best servicing standards in the industry by achieving zero outstanding in maturity, survival benefit and death claims. The fact that 99% of these claims have been settled before the due date adds

!^6 jflif{s k|ltj]bgcf}+

ylkPsf] 5 . cf=a= @)&#÷&$ df sDkgLn] s"n bfaL e'QmfgL afkt ?= !*!=#* s/f]8 k|bfg u/]sf] ;xif{ hfgsf/L u/fpg rfxG5' . pQm cf=a= sf] cGTo;Dddf o; sDkgLn] #^ cf]6f zfvf sfof{nox¿ / !$! hgf k"0f{sflng sd{rf/L / #&,@#& clestf{x¿dfkm{t d'n'se/ cfkmgf] ;]jf k|bfg ub}{ cfO/x]sf] 5 .

la=;+= @)^* b]lv g]kfnsf] hLjg aLdf pBf]udf cfO{=P;=cf]= k|dfl0fs/0f ())!M@)!% k|fKt ug]{ klxnf] Pj+ Ps dfq hLjg aLdf sDkgLsf] tfh cem} ;'/lIft /fVg ;kmn ePsf 5f} / of] k|dfl0fs/0fn] sDkgLn] cfkm\gf] Jofkf/ / ;]jfdf cGt/f{li6«o Joj;flos dfkb08nfO{ cjnDag u/]sf] k|i6 kfb{5 . cfw'lgs cgnfOg ;"rgf k|ljlwsf] k|of]u ub}{ PncfO{;L g]kfnn] clxn] cfkm\gf u|fxsx¿nfO{ l56f] / ;lhnf] ;]jf pknAw u/fpb} cfPsf]

;xif{ hfgsf/L u/fpg rfxG5' . clxn] z]o/ ahf/df o; sDkgLsf] z]o/ d"No ;s/fTds /xg'nfO{ cfd hg;d'bfon] o; sDkgLk|lt 7"nf] ljZjf; / e/f];f /fv]sf 5g\ eGg] ?kdf lnPsf] 5' .

d]/f] dGtJosf] cGTodf, lg/Gt/ ;xof]u, ;+/IfsTj / z'e]R5f k|bfg ug]{ ;j} z]o/wgL / u|fxsx¿nfO{ ;+rfns ;ldltsf]tkm{af6 d xflb{s cfef/ JoQm ug{ rfxG5' . To;} u/L, d g]kfn ;/sf/, cy{ dGqfno, g]kfn /fi6« a}+s, aLdf ;ldlt, sDkgL /lhi6«f/ sfof{no, g]kfn lwtf]kq af]8{, g]kfn :6s PS;r]Gh ln=, l;l8P; P08 lSnol/Ë ln= / cGo ;/sf/L ljefux¿nfO{ pxfFx¿af6 k|fKt lg/Gt/ ;xof]u / dfu{ lgb{]zgsf nflu s[t1tf JoQm ug{ rfxG5' . xfd|f aLdfÍL, cfGtl/s tyf jfXo b'j} n]vfk/LIfsx¿ / Joj;flos ;fem]bf/x¿ klg ;xof]u / dfu{ lgb{]zgsf nflu k|z+;fsf] kfq x'g'x'G5 .

z]o/wgLHo"x¿, tkfO{+x¿n] sDkgLk|lt b]vfpg' ePsf] cgj/t ;fy / ;dy{gsf nflu ljz]if wGojfb lbg rfxG5' . xfdLx¿nfO{ ;b}j xf};nf / ljZjf; k|bfg ug]{ ;j} :6]sxf]N8/x¿ wGojfbsf kfq x'g'x'G5 . xfd|f]

sfo{nfO{ ljZjf; ug]{ aLldtx¿, nIo xfl;n ug{ lg/Gt/ sfo{ ug]{ sd{rf/Lx¿, aLdf of]hgfx¿nfO{ laqmL ug{ of]ubfg k'/\ofpg] clestf{x¿ / sDkgLsf] pTyfgk|lt uxg cle?lr, lgoldt lgodg, ax'd"No ;'emfj Pj+ ;do k|bfg ug'{ x'g] ;+rfns ;ldltsf ;b:ox¿nfO{ klg xflb{s wGojfb 1fkg ug{ rfxG5' . d]/f egfO{x¿ ;dfKt ug'{ cl3 cf=a= @)&#÷&$ nfO{ ;kmn agfpg of]ubfg lbg] ;j}nfO{ pRr ;Ddfgsf;fy awfO{ lbg rfxG5' .

cfb/0fLo dlxnf tyf ;Hhga[Gb, o; ul/dfdo ;efdf tkfO{x¿n] k|bfg ug'{ ePsf] ;do / ;xeflutfsf] nflu w]/} w]/} wGojfb lbg rfxG5' .

x]d+t efu{jcWoIf

more shine to this achievement. Altogether the Company paid over NRs. 1813.80 million as claim payments in the fiscal. As on the date, the Company delivers its products and services through 36 outlets manned by 141 full-time employees and 37,237 agents across the entire nation.

The crowning glory of all achievements has been the ISO 9001:2015 certification received by the Company making it the first and only Life Insurance Company in Nepal since 2068 B.S. indicating the mark of the international standards being maintained and the continuation of professionalism in our sales as well as service operations. I am further happy to inform you that Life Insurance Corporation (Nepal) Limited is providing easy and quick service to our valued customers by modern information technology. I also wish to interpret the positive performance of our share price in stock market a strong vote of confidence in our company.

At the end, I on behalf of the Board, place on record its gratitude to the shareholders and customers for their continued support, patronage and goodwill. Similarly, I would like to express our sincere appreciation to the honorable Government of Nepal, Ministry of Finance, Nepal Rastra Bank, Beema Samiti-Insurance Board, Company Registrar's Office, Securities Board of Nepal, Nepal Stock Exchange Limited, CDS and Clearing Ltd and all the other departments of the government for the help and guidance. Our Actuary, Auditors, both statutory and internal and other business associates also deserve our appreciation for supporting and guiding the Company.

Dear Shareholders, I remain thankful to you for extending your ceaseless support to the company. I would like to thank all other stakeholders, as well, for their continued faith in this Company and in our strength and capabilities. I would like to thank our customers for their valuable trust, employees for their dedication and hard work towards achieving our goals, agents for their marketing acumen and Board of Directors for their continued guidance and support. Once again, before I conclude my remarks, I would like to congratulate everyone for the strong performance in financial year 2016/17.

Ladies and Gentlemen, thank you very much for your time and attention.

Hemant BhargavaChairman


cfb/0fLo z]o/wgL, dlxnf tyf ;Hhga[Gb .

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] o; !^ cf}+ aflif{s ;fwf/0f ;efdf pkl:yt ;Dk"0f{ z]o/wgLx¿nfO{ ;+rfns ;ldltsf]tkm{af6 xflb{s clejfbg Pj+ :jfut ug{ rfxG5f} .

z]o/wgLHo"x¿n] sDkgLsf] cf=a= @)&#÷&$ sf] n]vfk/LIf0f ePsf] ljlQo ljj/0f cWoog ul/;Sg' eof] eGg] ljZjf;sf ;fy xfdL oxfFx¿ ;dIf cf=a= @)&#÷&$ sf] ;+rfns ;ldltsf] k|ltj]bg sDkgL P]g, @)^# sf] bkmf !)( adf]lhd 5nkmn tyf cg'df]bgsf] nflu k]z ug{ rfxG5f} .

Joj;fosf] k|s[ltof] g]kfnsf] k|rlnt sfg"g, aLdf P]g Pj+ lgodfjnL / aLdf ;ldltsf] k|ToIf lgodgdf /xL hLjg aLdf Joj;fodf ;+nUg /x]sf] sDkgL xf] .

cfly{s kl/b[iog]kfn /fi6« a}+saf6 k|sflzt df}lb|s gLlt cg';f/, æcfly{s j[l4 / ;dli6ut cfly{s :yfloTjsf b[li6sf]0fn] cfly{s jif{ @)&#÷&$ pT;fxk|b /Xof] . pRr cfly{s j[l4, Go"g d'b|f:kmLlt / zf]wgfGt/ artsf] l:yltn] cy{tGqdf gof“F cfzfsf] ;+rf/ hufof] . cg's"n df};d, ko{6s cfudgdf j[l4 tyf ;du| cfk"lt{ Joj:yfdf cfPsf] ;'wf/sf sf/0f cy{tGq ;sf/fTds lbzfdf cufl8 a9\g ;Sof] . z]o/ ahf/df cl3Nnf] cfly{s jif{df b]lvPsf] p5fn cf=a= @)&#÷&$ df ;fdfGoLs/0f eof] . cf=a= @)&#÷&$ df oyfy{ s'n ufx{:Yo pTkfbg -cfwf/e"t d"Nodf_ ^=( k|ltztn] j[l4 eof] . ljB't cfk"lt{ tyf

nufgLsf] jftfj/0fdf cfPsf] ;'wf/sf sf/0f u}/–s[lif If]qsf] j[l4b/ pRr /xg uof] .Æ

plNnlvt cfly{s kl/b[iodf o; sDkgLn] cf=a= @)&#÷&$ df k|yd aLdfz'Ns cfDbfgLdf !^=@^Ü, s"n hLjg aLdf sf]ifdf @^=&!Ü, nufgLdf #)=$)Ü / nufgLaf6 k|fKt cfodf $%=$#Ü sf] a[l4b/ xfl;n ug{ ;kmn ePsf] hfgsf/L u/fpg rfxG5f}+ . sDkgLsf]] pTs[i6 ljlQo gLlt, sd{rf/L tyf clestf{x¿sf] d]xgt / g]kfnL hg;d'bfox¿n] u/]sf] ckf/ laZjf; Pj+ k"0f{ e/f];faf6 oL pknlAwx¿ k|fKt x'g ;s]sf x'g\ .

Joj;fosf] l;+xfjnf]sgaLdfn]vx¿sf] laqmL ;+Vof

o; sDkgL;“u @)&$ cfiff9 d;fGt;Dddf s"n ;lqmo hLjg aLdfn]vsf] ;+Vof &,@),$%) /x]sf] ;xif{ hfgsf/L u/fpg rfxG5f}+ .

Respected Shareholders, Ladies and Gentlemen!

We, the Board of Directors are delighted to welcome all the shareholders present in this 16th Annual General Meeting of Life Insurance Corporation (Nepal) Ltd.

We hope that you have all gone through the Audited Financial Statements of the Company of financial year 2073/74 (2016/17). We now present the Board of Director’s report for the fiscal year 2073/74 for discussion and approval. This is in compliance with the provisions of Section 109 of the prevailing Companies Act, 2063.

Nature of BusinessThe Company is engaged in the business of Life Insurance in Nepal under the regulations of Beema Samiti and other prevailing laws of the Nepal.

Economic ScenarioAs per monetary policy published by Nepal Rastra Bank “Nepalese economy remained buoyant in 2073/74. Relatively higher economic growth, contained inflation and a reasonable level of surplus in balance of payments have spurred a new hope. Favorable weather, a pickup in tourists arrival and improvement in overall supply situation steered the economy towards the positive direction. Stock market which was bullish in the previous year remained normal in 2073/74. The real gross domestic product (GDP) at basic price grew at 6.9 percent in 2073/74. The non-agricultural sector witnessed a higher growth on account of the improvement in power supply and investment climate.”

Upon such situations, the Company has been able to show 16.26% growth in the first premium income, 26.71% growth in total life fund, 30.40% growth in investments and 45.43% growth in income from investments in the fiscal year 2073/74. These could be possible because of the prudent financial management, hard work of employees & agents and the continued faith the people of Nepal have in the Company.

Overview of PerformanceNumber of Policies sold

The Company has 720,450 policies in its book as at 31st Ashad 2074 (15th July 2017).

;~rfns ;ldltsf]

k|ltj]bg

Director's

REPORT for 16th Annual General Meeting

Year 2069/70 2070/71 2071/72 2072/73 2073/74

No of Policies 65022 91845 149796 146713 178511


First Premium Income

We are happy to inform you that the Company could register 16.26% growth in FPI as seen above in the just ended Financial Year. The average premium per policy is NRs. 12,165. The total premium collected by the Company during 2073/74 stands at Rs 8709.05 Million.

Operational OverviewThe Company operated through 36 branches during the year 2073/74. At the end of Financial Year 2073/74, the Company had 141 staff members, 3 of whom are expatriates deputed from India with ample experience & knowledge in life insurance marketing and administrations, while others are from Nepal itself. The top executives of the Company, ably supported by the Board, guide the employees and field force, and are easily accessible at any time. Several training and handholding sessions are conducted throughout the year, in addition to periodic reviews, to enhance the skills of the employees and agents so they become vibrant and responsive in competitive market.

Changes in the Board of DirectorsShri Hemant Bhargava has been appointed as Chairperson of Board of Directors replacing Shri V. K. Sharma on his retirement and Shri Laxmi Prasad Das as a Director in place of Shri Abhijit Ghosh Dastidar after the 15th Annual General Meeting.

Factors influencing our business The lack of avenues for long term investment continued to be the major cause of concern throughout the year. The short-term interest also remained at low level in 2073/74. In that situation too, the Company was able to take full advantage of the best prevailing interest rates from investments and get most of the investments done for the longest available term during the year. The Profit & Loss Accounts of financial year 2073/74 shows a Net profit of Rs 13,49,73,897/- , the cost of operations has been kept under strict control and efforts are being made to bring it down further without affecting our operations. All these would help in creating long term goodwill & result in bringing more values to our shareholders and policyholders in the days to come.

Auditors Chartered Accountant Sri B. K. Agrawal of M/S B. K. Agrawal & Co. had been our Statutory Auditor for the year 2073/74. He was not eligible for reappointment due to completion of 3 consecutive years of auditing for the Company. The Board of the Company requested the Office of Company Registrar to appoint statutory auditor for the Company. Following the due process, the Office of Company Registrar appointed to Sri Madan Niraula of M/S Madan Niraula & Co. as the Statutory Auditors for financial year 2074/75 (2017/18) with an annual fee of Rs. 3,25,000/- + VAT.

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cf=a= @)&#÷&$ df sDkgLn] k|yd aLdfz"Ns cfDbfgLdf !^=@^Ü sf] a[l4b/ xfl;n u/]sf] 5 . o; sDkgLsf] cf}ift aLdfz"Ns k|lt aLdfn]v ?=!@,!^%÷– /x]sf] 5 . sDkgLn] cf=a= @)&#÷&$ df s"n aLdfz'Ns afkt ?= *,&)=() s/f]8 /sd ;+sng ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpg rfxG5f} .

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sfof{nox¿dfkm{t cfkm\gf] Joj;fo ;+rfng u/\of] . cf=a= @)&#÷&$ sf] clen]v cg';f/ hLjg aLdf If]qdf bIf Pj+ cg'ejL # ef/tLo -PncfO{;L ckm Ol08ofaf6_ nufot afFsL ;a} g]kfnLx¿ ;lDdlnt hDdf !$! hgf sd{rf/Lx¿ o; sDkgLdf sfo{/t /x]sf 5g\ . ;+rfns ;ldltaf6 lgb]{lzt pRr kbflwsf/Lx¿ sDkgLsf] cGo sd{rf/Lx¿ / lkmN8 kmf];{nfO{ s'zntfk"j{s ;+rfng ub{5g\ . sDkgLdf Joj;flos Pj+ ;f}xfb{k"0f{ jftfj/0fdf pRr txsf sfo{sf/L;Fu ;a} sd{rf/Lx¿ 3'nldn ug{ ;Sg] ;xh jftfj/0f ljBdfg /x]sf] 5 . sd{rf/L / clestf{x¿sf] bIftf a[l4 u/L cem k|lt:kwL{, ;an / lhDd]jf/ agfpgsf nflu aif{e/L ljleGg tflnd / dfu{ lgb]{zgsf sfo{qmdx¿ ;+rfng ul/b} cfPsf 5g\ .

;+rfns ;ldlt kl/jt{g!%cf}+ aflif{s ;fwf/0f ;efkl5 sDkgLsf] ;+rfns ;ldltdf ;+rfns cWoIf >L le=s]= zdf{sf] :yfgdf >L x]dGt efu{j cWoIf lgo'Qm x'g' ePsf] 5 / ;+rfns >L clelht 3f]if bl:tbf/sf] :yfgdf >L nIdL k|;fb bf; ;+rfns lgo'Qm x'g'ePsf] 5 .

sf/f]af/nfO{ c;/ kfg]{ tTjx¿bL3{sflng nufgLsf] cj;/ aif{e/ g} sdL /xg uof] eg] cf=a=@)&#÷&$ df cNksflng nufgLdf klg Aofhb/ Go'g g} /xof] . To:tf] kl/l:yltdf klg, sDkgLn] nufgLaf6 ahf/df pknAw Jofhb/sf] k"0f{ kmfObf lng ;dy{ ePsf] 5 eg] pknAw eP;Dd nufgLnfO{ bL3{sflng cjlwsf nflu /fVg] k|of; ul/Psf 5g\ . o; sDkgLsf] @)&$ cfiff9 d;fGt;Ddsf] gfkmfgf]S;fg vftfn] v'b d'gfkmfsf] ?kdf ?= !#,$(,&#,*(&.– b]vfPsf] ;xif{ hfgsf/L u/fOG5 . sDkgLsf] Aoj;fodf k|lts"n k|efj gkg]{ t/Lsfn] Aoj:yfksLo vr{nfO{ ;b}j lgoGq0f / Go'gLs/0f ug]{ k|of; ul/Psf] 5 / eljiodf klg o;nfO{ lg/Gt/tf lbOg] 5 . o; k|sf/sf] k|of;af6 eljiodf cem /fd|f] VoftL Pj+ kl/0ffd k|fKt eO{ xfd|f z]o/wgL / laldtx¿nfO{ pRr nfe x'g] ljZjf; lnPsf 5f} .

Year 2069/70 2070/71 2071/72 2072/73 2073/74

FPI (In NRs Millions) 918.94 1283.51 1819.18 2265.20 2633.49


n]vfk/LIfsla= s]= cu|jfn P08 sDkgLsf rf6{8 PsfpG6]G6 >L la= s]= cu|jfn o; aflif{s ;fwf/0f ;ef;Dd a}wflgs n]vfk/LIfssf] ?kdf x'g'x'G5 . >L la= s]= cu|jfnn] nuftf/ # aif{;Dd n]vfk/LIf0fsf] sfo{ ug'{ ePsf] x'“bf k'glg{o'lQmsf nflu of]Uo x'g' ePg . ;+rfns ;ldltaf6 a}wflgs n]vfk/LIfs lgo'lQmsf nflu sDkgL /lhi6«f/ sfof{nonfO{ cg'/f]w ul/of] . ljBdfg sDkgL P]gsf] k|s[of adflhd sDkgL /lhi6«f/ sfof{noaf6 cf=a= @)&$÷&% sf nflu aflif{s ;]jfz'Ns ?=#,@%,))).– ±Eof6 lbg] zt{df n]vfk/LIfssf] ?kdf dbg lg/f}nf P08 sDkgLsf >L dbg lg/f}nfnfO{ lgo'lQm ul/Psf] 5 . o; sDkgLsf] cfGtl/s n]vfk/LIfssf] ?kdf ljut # jif{b]lv >L b]j Pzf]l;o6\;sf rf6{8 PsfpG6]G6 >L /hlgz bfxfn x'g'x'GYof] . t;y{, ;+rfns ;ldltn] n]vf ;ldltsf] l;kmfl/;df cf=a= @)&$÷&% sf] nflu o; sDkgLsf] cfGtl/s n]vfk/LIfssf] ?kdf kL=Pn= >]i7 P08 sDkgLsf rf6{8 PsfpG6]G6 >L kL= Pn= >]i7nfO{ ?= ^,@@,)))± Eof6 aflif{s ;]jfz'Ns k|bfg ug]{ zt{df lgo'lQm u/]sf] 5 .

n]vfk/LIfssf] k|ltj]bgo;} k|ltj]bg;fy ;+nUg ul/Psf] n]vfk/LIfssf] dGtJo k|ltj]bgåf/f o; sDkgLsf] lx;fa lstfa k|rlnt sfg"g Pj+ k|rng cg';f/ /fv]sf] ;fy} nufgL jt{dfg sfg"g Pj+ lgb]{lzsf cg';f/ u/]sf] ;xif{ hfgsf/L u/fpg kfpFbf o;n] sDkgLsf] k]zfut Pj+ k|0ffnLut tl/sf kf/bzL{ / :ki6 ePsf] bzf{Psf] 5 . To;n] xfdLnfO{ cem a9L cfTdljZjf; / xf};nf ;d]t k|bfg u/]sf] 5 .

z]o/sf] hkmtsDkgLsf] z'?jftb]lv xfn;Dd s'g} klg z]o/wgLsf] z]o/ sDkgLn] hkmt u/]sf] 5}g .

hLjg aLdf sf]ifcf=a= @)&@÷&# sf] cGTo;Dddf hLjg aLdf sf]ifdf ?= @,^$*=$$ s/f]8 /x]sf]df To;df @^=&!Ü n] a[l¢ eO{ ldlt @)&#÷&$ cGTo;Dddf hLjg aLdf sf]ifdf ?= #,#%%=(^ s/f]8 hDdf ePsf] ;xif{ hfgsf/L u/fpg rfxG5f} .

nufgLcf=a= @)&@÷&# df s'n nufgL -aLdfn]v shf{ tyf 5f]6f] cjlwsf] nufgL ul/_ ?= @,^^(=(! s/f]8 /x]sf]df ldlt @)&#÷&$ df s'n nufgL -aLdfn]v shf{ tyf 5f]6f] cjlwsf] nufgL ul/_ ?=#,$*!=*) s/f]8 /x]sf] 5 . o; cg';f/ #)=$)Ü n] nufgLdf a[l¢ ePsf] b]lvG5 ;fy} ;Dk"0f{ nufgLx¿ k|rlnt P]g, ;+rfns ;ldltsf] lgb]{zg Pj+ >L aLdf ;ldltsf] nufgL ;DjGwL gLlt tyf lgb]{lzsfsf] clwgdf /xL ul/Psf 5g\ . o; sDkgLn] g]kfn ;/sf/sf] C0fkq, g]kfn /fi6« a}ssf] ljsf;kqx¿, afl0fHo a}+s, ljsfz a}+s / k|ltli7t laQLo ;+:yfx¿sf] d'2tL vftfx¿, gful/s nufgL sf]if, a+}s Pj+ k|ltli7t klAns lnld6]8 sDkgLx¿sf] lk|km/]Gz z]o/, l8a]Gr/ / ;fwf/0f z]o/x¿df nufgL u/]sf]

Similarly, Sri Rajnish Dahal of M/S Dev Associates, Chartered Accountant had been our internal auditor till FY 2073/74 since last 3 consecutive years. So, the Board of Directors on the recommendation of the Audit Committee has appointed Sri P.L. Shrestha of M/S P.L. Shrestha & Co. as internal auditor for the financial year 2074/75 with an annual fee of Rs. 6,22,000/- +VAT.

Auditor’s ReportThe opinion of the Auditors on the accounts and systems of the Company is appended to this report. Their opinions that the accounts and records of the Company have been maintained properly and that the investments are made as per the laws of the land gives us ample confidence about our professional working and well laid systems.

Forfeiture of SharesSince the inception of the Company, no shares belonging to anyone have been forfeited.

Life FundAs at the end of financial year 2073/74, the life fund of the Company stood at NRs 33,559.60 Million as against NRs 26,484.40 Million at the end of last financial year 2072/73. This means the life fund grew at the rate of 26.71 %.

InvestmentsThe total investments of the Company (including policy loans and short term investments) at the end of F.Y. 2073/74 stood at NRs 34,818.01 Million against NRs 26,699.11 Million at the end of F.Y. 2072/73. This shows an increase of 30.40 % and investments have been done strictly as per the guidelines and rules existing in the country as well as per directions of the Board of Directors and directives of the Regulator (Beema Samiti) from time to time. The investments have been made in Govt. Bonds, Development


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;+rfnsx¿åf/f ljlQo sf/f]af/cfly{s aif{ @)&#÷&$ df k|d'v sfo{sf/L clws[t hf] ;+rfns ;d]t /xg' ePsf] 5, pxfFnfO{ lbOPsf] kfl/>lds / c? ;+rfnsx¿nfO{ k|bfg ul/Psf] a}7s eQf afx]s sDkgL;Fu ;DalGwt ljQLo sf/f]af/df ;~rfns / lghsf] gft]bf/sf] s'g} ;+nUgtf /x]sf] 5}g .

cfDbfgL / Aoj:yfkg vr{ut aif{eGbf #)=%^Ü sf] a[l4 xfl;n eO{ o; aif{ sDkgLsf] s"n cfDbfgL ?=!,!$#=(& s/f]8 /x]sf] 5 . pQm cfDbfgLleq nufgLaf6 k|fKt ePsf] cfDbfgL -shf{ / k]ZsLaf6 k|fKt Aofh cfDbfgL ;lxt_ ;dfj]z 5 h;sf] $%=$#Ü sf] a[l4 /x]sf] 5 . o; sDkgLsf] s"n Joj:yfksLo vr{ cg'kft g]kfnsf] hLjg aLdf pBf]udf k|sflzt ePsf k|ltj]bgx¿ x]bf{ Go"g /x]sf] b]lvG5 h'g vr{ cg'kft %=^^Ü /x]sf] 5 .

;+rfns tyf kbflwsf/Lx¿nfO{ ul/Psf] e'QmfgL sDkgLsf] lgodfg';f/ cf=a= @)&#÷&$ df sDkgLsf] ;+rfnsx¿, k|d'v sfo{sf/L clws[t tyf cGo kbflwsf/Lx¿nfO{ hDdf ?=!,^^,^),((^.— e'QmfgL ul/Psf] 5 .

;+rfns tyf kbflwsf/Lx¿nfO{ e'Qmfg ul/Psf] /sd ljj/0f

Bonds of Nepal Rastra Bank, Fixed deposits (Commercial Banks, Development Banks, Finance Companies, Citizen's Investment Trust), Preference Shares and Debentures of Banks and reputed public limited Companies, and in the equities of reputed public limited companies. Due to strict investment norms followed by the Company, the investment income has shown an increase of 45.43% in the financial year 2073/74 even though the market conditions were not so conducive. It is our endeavor to invest our surplus in a prudent manner keeping the safety of funds uppermost in our mind but without losing sight of higher returns.

Financial Transactions by DirectorsDuring the financial year 2073/74, the Company has not entered into any financial transactions with either the Directors of the Company or their relatives in any manner whatsoever except payment of salary to the CEO, who is also a Director and payment of sitting fees to all the Directors of the Company.

Income and Management ExpensesThe total income of the Company during the financial year was NRs. 11,439.74 Million, showing a growth 30.56% over that of last year, with income from investment (including interest incomes from loans and advances) registering 45.43% growth during the year. The total management expense ratio of the Company continues to be one of the lowest in the industry as seen from the reports published which is 5.66%.

Payment to Directors and other ExecutivesA total of NRs. 16,660,996/- have been paid to Directors, CEO and other Executives of the Company as per laid down rules, in the year 2073/74.

Statement of Remuneration of Directors and Executives is as under:

Name Designation Amount Paid (NRs.) Type of PaymentMr. V. K. Sharma Chairman 18,000 Sitting Fee*

Mr. B. Venugopal Director 20,000 Sitting Fee*

Mr. Ashok Agrawal Director 50,000 Sitting Fee

Mrs. Usha Sangwan Director 27,500 Sitting Fee*

Mr. V. K. Kukreja Director 52,500 Sitting Fee

Mr. Kumar Keshar Bista Director 40,000 Sitting Fee

Mr. P.R. Mishra EX-CEO 1,162,070 Salary and other amenities

Mr. S.C. Pattnayak Ex-Designated CEO 201,024 Salary and other amenities

Mr. Abhijit Ghosh Dastidar Officiating CEO 16,000 Sitting Fee*

7,855,681 Salary and other amenities

Mr. Sudhir Sagar Manager IT 7,218,221 Salary and other amenities

Total 16,660,996

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*These payments are made to L.I.C. of India as these directors are employees of LICI.


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cf=a= @)&#÷&$ ;Ddsf] sDkgLsf] ;f]Ne]G;L / k"FhL kof{Kttfsf] ;Gbe{df aLdfÍLo k|df0fLs/0f o;} k|ltj]bg;fy ;+nUg ul/Psf] 5 .

laldtx¿sf] nflu af]g;cf=a= @)&#÷&$ sf nflu laldtx¿nfO{ lgDgfg';f/sf] af]g;b/ sfod ul/Psf] 5 .

Purchase of PropertyNo property has been purchased or sold by the Company during the financial year 2073/74 as per section 141 of the Companies Act, 2063, except for purchase of cars for the use of officers as per the scheme approved by the Board.

Valuation of Life FundAs per the instruction of Beema Samiti, a life Insurance Company is required to undertake valuation of its funds by an Actuary on yearly basis. The annual valuation results for F.Y. 2073/74 has shown a surplus of NRs 6,083,465,338 out of which NRs 3,373,469,401 is distributed to the Policyholders as Bonus & these figures are reflected in the financial statements of 2073/74.

Certification of the actuary regarding solvency of the company and its capital adequacy up to F.Y. 2073/74 is appended with the report.

Bonus to PolicyholdersThe Bonus rates of the company for F.Y. 2073/74 are as below:

Policy Term Bonus/1000/yearEndowment (including Jeevan Anand) 5 to 19 61

Endowment (including Jeevan Anand) 20 to 24 65

Endowment (including Jeevan Anand) 25 and above 75

Money Back 15 61

Money Back 20 62

Money Back 25 63

Premium Term BonusJeevan Tarang 10 61

Jeevan Tarang 15 63

Jeevan Tarang 20 72

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Dividend & Bonus for shareholdersWith the closing of the books of Accounts after the inclusion of the valuation results for F.Y. 2073/74, the Company has shown NRs 134.97 Million as net profit in the Shareholders account. The Board of Directors proposes 12.63% of paid up capital amounting NRs 168,569,768 as dividend out of this profit to our valued Shareholders where 12% as Bonus Share and 0.63% as cash dividends to meet tax on the total dividend so declared are to be apportioned. The Board of Directors also proposes to increase the Authorized Share Capital, Issued Share Capital & Paid up Share Capital of the Company to NRs 1494.8388 Million.


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d[To' bfaLcf=j= @)&#÷&$ df sDkgLn] hDdf &!! j6f d[To' bfaLx¿ ;DkGg u/L ?=@#=!% s/f]8 /sd e'tmfgL u/]sf] 5 . ;'?jftb]lv xfn;Dd #,%## j6f d[To' bfaLx¿ km5\of]{6 u/L ?= &%=#* s/f]8 /sd e'tmfgL eO{ ;s]sf] 5 . cf=a= @)&#÷&$ df kl/kSjtf nfe, lhlat nfe / d[To' bfaL e'QmfgL k"0f{?kn] km5\of]{6 ug{ ;kmn xF'b} k"gM bfaL e'QmfgL ;Dkfbg sfo{df g]kfnsf] hLjg aLdf pBf]u d} o; sDkgLn] pRrtd dfkb08 sfod ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpg rfxG5f} . sDkgLn] e'QmfgL ug'{ kg]{ ;a} kl/kSjtf nfe / lhlat nfe e'QmfgLx¿ aLdf lgodfjnLsf] Dofbleq} ;f]xL cfly{s aif{df ;Dkfbg ul/Psfn] sDkgLsf] ;kmntfdf cem ;'uGw ylkPsf] 5 . o; aif{ e'QmfgL ePsf] s"n bfaL -d[To'± kl/kSjtf±lhljt nfe_ /sd ?=!*!=#* s/f]8 /x]sf] hfgsf/L u/fpFb5f} .

cGo Aofkfl/s lqmofsnfkx¿cf=a= @)&#÷&$ df sDkgLn] !,@(@ hgf gofF clestf{x¿ lgo'Qm u/]sf] lyof] . @)&$ cfiff9 d;fGt;Dddf sDkgLdf hDdf #&,@#& hgf clestf{x¿ sfo{/t /x]sf lyP h;dWo] $,!%$ hgfn] Jofkf/df ;lqmo of]ubfg k'/\ofpg' ePsf] lyof] . ;f] aif{ @^# hgf clestf{x¿ ;tsaL/ / !#* hgf aLdf k]zfsf] ;Ddflgt MDRT CLUB @)!* df ;b:o aGg ;kmn ePsf 5g\ . sDkgLsf] laqmL a9fpg] p2]Zon] gofF clestf{x¿nfO{ lgoldt ?kdf tflnd / laBdfg clestf{x¿nfO{ cem a9L Aoj;flos agfpg laqmLsnfsf cWoog ;fdfu|Lx¿ k|bfg, k"gtf{huL tflnd tyf laqmosnfsf sfo{qmdx¿ ;+rfng ul/b} cfPsf 5g\ .

;+:yfksLo Aoj:yfkgsDkgL ;+rfns ;ldltsf] a}7s k|rlnt P]g adf]lhd lgoldt ?kdf a:g] u/]sf] 5 . cf=a= @)&#÷&$ df ^ j6f ;+rfns ;ldltsf] a}7sx¿ ;DkGg eP . gLlt lgdf{0fsf] cltl/Qm ;+rfns ;ldltn] sDkgLnfO{ /0fgLlts lgb]{zg lbg], lalQo cg'zf;g / hjfkmb]lxtf sfod u/fpg], aLldt / cGo ;]jfu|fxLx¿sf] lxt/Iffy{ lglZrttf k|bfg ug]{ sfd u/]sf] 5 . To;sf] cltl/Qm sDkgLn] aLdssf] ;+:yfut ;'zf;g ;DaGwL lgb]{lzsf, @)&% sf k|fjwfgx¿nfO{ s8fO{sf ;fy kfngf u/]sf] 5 .

Customer ServiceNetworking, Premium Payment & Mobile SMS

The Company has adopted the state of art IT facilities. LIC Nepal has successfully introduced “anywhere premium payment” system. Likewise, the Company has been delivering “Mobile SMS Information Service” and “Online Portal” services in website to inform the policyholders regarding the policy completions, premiums dues and premiums received details and also for payment of policy loans, surrenders, survival benefits & maturity claims.

ClaimsDuring the financial year 2073/74, the Company has settled 711 death claims for an amount of NRs 231.58 Millions. The total death claims settled since inception is 3533 in which we have paid NRs 753.80 Million. We are happy to inform you that the Company has achieved zero outstanding death, maturity and survival benefit claims which is an unparalleled achievement in the entire insurance industry. All the maturity and survival benefit claims of the Company due in the fiscal year 2073/74 were settled in the fiscal itself which is a unique feat in the Life Insurance Market of Nepal. The total claim (Death+ Maturity+ Survival Benefits) amount paid during the fiscal year is NRs. 1813.80 Million.

Other Marketing ActivitiesDuring the year of review, the Company recruited 1,292 new agents. As at the end of Ashad 2074 we had 37,237 agents on roll out of which 4154 have contributed to the business of the Company. During the financial year 2073/74, 263 Agents have become Centurions and 138 Agents have qualified to be the member of prestigious MDRT-2018 Club for insurance professionals. A continuous effort is being placed to enhance the various skills of the agents, with refresher trainings, by providing them with literature on marketing and allied subjects and keeping them engaged through various innovative competitions.

Corporate GovernanceThe Company Board of Directors meet is regularly held as per the prescribed rules. Six Board of Director’s meetings have been held in the FY 2073/74. In addition to policy matters the Board also provides strategic direction, ensures financial discipline and accountability, and also ensures protection of interest of the policy holders and other stakeholders. The Board of Directors strictly acts as per the terms laid out in the Insurer’s Corporate Good Governance Directive, 2075 issued by Beema Samiti.

Share purchased by DirectorsDuring the financial year 2073/74, neither Directors nor Officers of the Company have purchased any shares of the Company and


;+rfnsx¿åf/f z]o/sf] v/Lbcfly{s aif{ @)&#÷&$ df o; sDkgLsf ;+rfns tyf kbflwsf/Lx¿åf/f s'g} z]o/ v/Lb gul/Psf] tyf z]o/ sf/f]af/df lghx¿sf] ;+nUgtf /x]sf] 5}g .

z]o/wgLx¿af6 k|fKt hfgsf/LsDkgLsf] sfo{z}nL v'Nnf / kf/bzL{ ePsf] x'Fbf z]o/wgL dxfg'efjx¿af6 k|fKt x'g] ;'emfjnfO{ sDkgLn] ;b}j :jfut ug]{ u/]sf] 5 . z]o/wgLx¿af6 k|fKt plrt ;'emfjx¿nfO{ sDkgLsf] a[lt ljsf;df of]ubfg k'/\ofpgsf] lglDt cjnDag ug]{ tkm{ xfd|f] k|oTg ;b}j /xg] 5 .

skf]{/]6 sfof{no :yfgfGt/0fu|fxs ;]jfnfO{ k|fyldstfdf /fv]/ xfdLx¿n] eujtLaxfn gS;fndf

/x]sf] sDkgLsf] skf]{/]6 sfof{nonfO{ k'tnL;8sl:yt :6f/dndf :yfgfGt/0f u/]sf 5f}+ . ;j}sf nflu ;lhnf] kx'“r / ;'ljwf;DkGg skf]{/]6 sfof{noaf6 ;j}n] ;xh / l56f] tl/sfaf6 ;]jf k|fKt ug]{5g\ eGg] ljZjf; lnPsf 5f} .

cGo v'nfpg' kg]{ s'/fx¿k|rlnt P]g tyf sfg"g adf]lhd sDkgLsf] cGo s'g} s'/f v'nfpg' kg]{ 5}g .

cfef/ AoQm;+rfns ;ldltn] o; sDkgLnfO{ lg/Gt/ ;xof]u / dfu{ lgb{]zg ug]{ g]kfn ;/sf/, cy{ dGqfno, g]kfn /fi6« a}+s, aLdf ;ldlt, g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/ sfof{no, g]kfn :6s PS;r]Gh ln=, l;l8P; P08 lSnol/Ë ln= / cGo ;DalGwt lgsfox¿nfO{ xflb{s cfef/ JoQm ug{ rfxG5 . To;}u/L, o; sDkgLnfO{ lg/Gt/ ;xof]u / dfu{ lgb{]zg k|bfg ug]{ ef/tLo hLjg aLdf lgudsf ljleGg ljefux¿k|lt s[t1tf JoQm ug{ rfxG5f}+ . ;Dk"0f{ z]o/wgL / ljldt dxfg'efjx¿nfO{ klg sDkgLk|lt ug'{ ePsf] ;xof]u, ;lbR5f / ljZjf;sf nflu xfdL cfef/ JoQm ug{ rfxG5f} .

;kmntfsf nflu nuglzntfsf;fy d]xgt ug'{x'g] ;Dk"0f{ ahf/ k|ltlglwx¿ tyf sd{rf/Lx¿nfO{ ;+rfns ;ldlt wGojfb lbg rfxG5 . xfdL sDkgLsf] n]vf k|0ffnLnfO{ pTs[i6 sfod /fVg dfu{ lgb]{zg ug'{ x'g]

aLdfÍL / n]vfk/LIfsx¿df klg s[t1tf JoQm ug{ rfxG5f} . ;+rfns ;ldltn] cfd g]kfnL hg;d'bfoaf6 eljiodf o:t} k|sf/sf] lg/Gt/ ;xof]u / ;lbR5fsf]] ck]Iff ul//xg] 5 .

wGojfb .

;+rfns ;ldlt

they have not been involved in any transactions related thereto.

Information/Suggestion from ShareholdersWith our functioning being open and transparent, suggestions from shareholders are always welcome. We would be delighted to receive suggestions from your good selves for furthering the growth of the Company and we would definitely give due consideration to these.

Shifting of Corporate OfficeKeeping the customers service as first priority, we have shifted our corporate office at Star Mall, Putalisadak, Kathmandu from Bhagawati Bahal, Naxal. We hope that our all stakeholders may avail good services from centrally located and well-equipped new corporate office.

Any other matter to be disclosedApart from the above mentioned facts, there is no other mandatory disclosure by the Company in accordance with any of the existing laws of Nepal.

Expression of GratitudeThe Board of Directors with gratitude acknowledges the immense support received from the honorable Government of Nepal, the Ministry of Finance, Nepal Rastra Bank, Beema Samiti, Securities Board of Nepal, Office of the Company Registrar, Nepal Stock Exchange Limited, CDS and Clearing Limited and all other concerned authorities. The Board of Directors would also like to acknowledge the guidance and help received from the various departments of LIC of India. The Board also places on record its gratitude to the Shareholders and Policyholders of the Company, who have reposed their faith, trust and confidence in the Company by their continued patronage.

The Board of Directors would like to thank all the marketing intermediaries and all the members of staff of the Company for their tremendous support and hard work without which the Company would not have scaled these heights. Our gratitude is also due to our Consultant Actuaries and Auditors for their support and guidance, in maintaining the highest standards of corporate excellence. The Board of Directors and the Company still sincerely solicit the continued support and patronage from the people of Nepal.

Thank you once again.

Board of Directors


Beema Samiti Chairman Mr. Chiranjibi Chapagain with Directors during the Branch inauguration program in Kathmandu

Group photo of BMs with HODs during BM Conference

HoDs with BODs after a meeting in Kathmandu

GLIMPSES

16 th ANNUAL REPORT 15GLIMPSES

LIC Staffs distributing food at Pashupatinath during Mahashivaratri

Life Coach TS Madaan training to agents in Kathmandu

Corporate Staffs with directors during 15th AGM in Kathmandu


Financial StatementsljQLo ljj/0f


;+efljt bfloTjx?

qm=;+= ljj/0f o; aif{ ut aif{1 r'Qmf jf e'QmfgL x'g afFsL nufgL - - 2 k|Tofe"lt k|lta4tf - - 3 aLdfn]v cGtu{t eGbf afx]saf6 aLds pk/ bfjL k/]sf] t/ aLdsn] bfloTj :jLsf/ gu/]sf] - - 4 aLdsn] jf aLdssf] tkm{af6 lbOPsf] Uof/]06L - - 5 /]k'8]zg ul/Psf] d[To' bfjL 27,951,524 22,052,524 hDdf 27,951,524 22,052,524

NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln= @)&$ cfiff9 d;fGtsf] jf;nft

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ >f]t 1 r'Qmf k"FhL !^ 1,334,677,500 1,069,453,125 2 hu]8f tyf sf]if !& 256,800,841 408,978,251 3 hLjg aLdf sf]if !! 33,559,608,877 26,484,403,810 4 dxf–ljkQL hu]8f !* 101,728,310 88,230,920 5 ltg{ afFsL bL3{sflng C0f tyf ;fk6L !( - - s"n >f]t 35,252,815,528 28,051,066,106

pkof]u 6 l:y/ ;DkQL -v'b_ @) 231,810,488 220,313,301 7 lb3{sflng nufgL @! 20,397,691,026 5,489,322,499 8 aLdfn]vsf] lwtf]df shf{ # 4,356,866,838 3,039,758,308 9 cGo bL3{sflng shf{ @# 37,691,434 30,806,874 Rffn' ;DkQL shf{ tyf k]ZsLx? M 10 gub tyf a}+s df}Hbft @@ 610,036,348 471,359,944 11 cNksflng nufgL @! 10,063,450,664 18,170,028,098 12 cGo cNksflng shf{ @# 285,586,059 228,149,831 13 cGo ;DkQL @$ 1,919,366,830 1,614,464,757 hDdf -s_ -!)±!!±!@±!#_ 12,878,439,901 20,484,002,630 rfn' bfloTj tyf Joj:Yffx? M 14 rfn' bfloTj @% 2,020,487,682 1,015,891,096 15 c;dfKt hf]lvd jfkt Joj:yf @^ 540,139,392 118,033,567 16 e'QmfgL x'g afFsL bfjL afkt Joj:yf ( 21,316,292 16,800,307 17 cGo Aoj:yf @^s 77,455,381 77,085,430 hDdf -v_ -!$±!%±!^±!&_ 2,659,398,747 1,227,810,400 18 v"b rfn' ;DkQL -u_ = -s_ – -v_ 10,219,041,154 19,256,192,230 19 ckn]vg jf ;dfof]hg x'g afFsL ljljw vr{x? @& 9,714,588 14,672,894 20 gfkmf gf]S;fg lx;faaf6 ;f/]sf] gf]S;fg - - s"n pkof]u -^±&±*±(±!*±!(±@)_ 35,252,815,528 28,051,066,106

;+efljt bfloTjx? tyf cg';"rL #, (, !!, tyf !^ b]lv @( ;Dd o;sf cleGg c+u x'g\ .

ljlkg s'df/� nfn clelht 3f]�if bl:�tbf/� s'df/� s]�z/� lji6;xfos k|aGws -ljQ=_ sf=d'= k|d'v sfo{sf/L clws[t÷lgb]{zs lgb]{zs

le=s]� s's\/�]�hf czf]�s cu|jfn aL= j]�0f'uf]�]�kfn jL=s]�= zdf{lgb]{zs lgb]{zs lgb]{zs cWoIf

l;P= la=s]� cu|jfnDofg]lhË kf6{g/lg= la=s] cu|jfn P08 sDkgLrf6{8 Psfp06]G6;\

;+nUg k|ltj]bgsf] cfwf/df

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LIFE INSURANCE CORPORATION (NEPAL) LIMITEDBalance sheet As On 31st Ashad 2074 (15th July 2017)

S.N. Particulars Schedule Current year Previous Year Sources 1 Paid up capital 16 1,334,677,500 1,069,453,125 2 Reserves & Surplus 17 256,800,841 408,978,251 3 Life Insurance Fund 11 33,559,608,877 26,484,403,810 4 Catastrophe Reserve 18 101,728,310 88,230,920 5 Long term loans & Borrowings 19 - - Total Sources 35,252,815,528 28,051,066,106 Uses 6 Fixed Assets (Net) 20 231,810,488 220,313,301 7 Long Term Investments 21 20,397,691,026 5,489,322,499 8 Policy Loans 3 4,356,866,838 3,039,758,308 9 Other Long Term Loans 23 37,691,434 30,806,874 Current Assets, Loans and advances: 10 Cash and Bank Balance 22 610,036,348 471,359,944 11 Short Term Investments 21 10,063,450,664 18,170,028,098 12 Other Short Term Loans 23 285,586,059 228,149,831 13 Other Assets 24 1,919,366,830 1,614,464,757 Total (A){10+11+12+13} 12,878,439,901 20,484,002,630 Current liabilities and provisions: 14 Current Liabilities 25 2,020,487,682 1,015,891,096 15 Provision for Unexpired Risk 26 540,139,392 118,033,567 16 Provision For outstanding Claims 9 21,316,292 16,800,307 17 Other Provision 26a 77,455,381 77,085,430 Total (B){14+15+16+17} 2,659,398,747 1,227,810,400 18 Net Current Assets C = (A-B) 10,219,041,154 19,256,192,230 19 Miscellaneous Expenses(To the extent not written off) 27 9,714,588 14,672,894 20 Loss Transferred From Profit & Loss Account - Total Uses (6+7+8+9+18+19+20) 35,252,815,528 28,051,066,106

Contingent Liabilities and Schedule 3,9,11& 16 to 29 are integral part of this Balance Sheet.

Contingent liabilties S.N. Particulars Current year Previous Year1 Unpaid Investment - - 2 Underwriting Commitment - - 3 Claim other than insurance business not accepted by the company - - 4 Guarantee issued by insured or on behalf of insured - - 5 Other (Death Claims Repudiated) 27,951,524 22,806,524 Total 27,951,524 22,806,524

Bipin Kumar Lal Abhijit Ghosh Dastidar Kumar Keshar Bista Asst. Manager (F&A) Acting CEO/Director Director

V. K. Kukreja Ashok Agrawal B. Venugopal V.K. SharmaDirector Director Director Chairman

As per our report of even date

CA. B. K. AgrawalManaging PartnerFor B. K. Agrawal & Co.Chartered Accountants

Date: November 3, 2018


NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] gfkmf gf]S;fg lx;fa

qm=;+= ljj/0f cg';"rL o; aif ut aif{

cfDbfgL1 cfo Joo lx;faaf6 ;f/]sf] !) –228,907,333_ 23,776,783 2 hLjg aLdf sf]ifaf6 ;f/]sf] !! 374,829,933 302,373,115 3 nufgL shf{ tyf cGoaf6 cfo @ 114,791,269 74,841,319 4 Joj:yf lkmtf{ !@ - 4,063,846 5 cGo cfDbfgL -ljj/0f v'nfpg]_ - hDdf cfDbfgL -s_ 260,713,869 405,055,063 vr{6 Joj:yfkg vr{ & 49,332,806 46,588,349 7 ckn]vg vr{ !# 95,908 88,072 8 z]o/ ;DalGw vr{ !# s 347,514 1,173,646 9 cGo vr{x? !$ - 171,330 10 gf]S;fgLsf] nflu Joj:yf !% 13,509,903 - 11 sd{rf/L cfjf; Aoj:yf @^ s - 12 sd{rf/L af]g; Joj:yf @^ s 17,947,976 32,457,606 13 ;dfof]lht cfos/ - c_ Ö -cf_–-O_ * 6,042,361 3,141,041 14 cf_ cfos/ 11,028,753 15 O_ :yug s/ bfloTj 4,986,392 16 hLjg aLdf sf]ifdf ;f/]sf] !! 38,463,504 - hDdf vr{ -v_ 125,739,972 83,620,044 17 v"b gfkmf ÷-gf]S;fg_ -u_ = -s_ – -v_ 134,973,897 321,435,019 18 cl3Nnf] jif{;+u ;DalGwt vr{ 19 cl3Nnf] aif{af6 ;fl/Psf] gfkmf÷-gf]S;fg_ 81,562,486 71,567,394 afF8kmfF8sf] nflu pknAw /sd 216,536,383 393,002,413 20 -s_ :yug s/ hu]8f !& 4,986,392 112,872 -v_ k"FhLut hu]8f !& -u_ ljz]if hu]8f !& -3_ cGo hu]8f -ljj/0f v'nfpg]_ !& -ª_ k|:tfljt nfef+z -c_ af]g; z]o/ !& 160,161,300 265,224,375 -cf_ gub nfef+z @^ s 8,429,542 13,959,178 -r_ dxf–ljkQL hu]8f !* 13,497,390 32,143,502 21 jf;nftdf ;f/]sf] gfkmf÷-gf]S;fg_ 29,461,759 81,562,486

cg';"rL @, &, * tyf !) b]lv !%, !&, !* / @^ s ;Dd o;sf cleGg c+u x'g\ .





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LIFE INSURANCE CORPORATION (NEPAL) LIMITEDProfit and Loss Account for the year of 2073/74 (2016/2017)

S.N. Particular Schedule Current year Previous Year Income 1 Transferred from Revenue A/c 10 (228,907,333) 23,776,783 2 Transferred from Life Insurance fund 11 374,829,933 302,373,115 3 Income From Investment Loan and Others 2 114,791,269 74,841,319 4 Written Back Provision 12 - 4,063,846 5 Other Income - - Total Income (A) 260,713,869 405,055,063 Expenses 6 Management expenses 7 49,332,806 46,588,349 7 Written off expenses 13 95,908 88,072 8 Share related expenses 13(A) 347,514 1,173,646 9 Other expenses 14 - 171,330 10 Provision for loss 15 13,509,903 - 11 Provision for Employees housing 26(A) - 12 Provision for Employees Bonus 26(A) 17,947,976 32,457,606 13 Adjusted Income tax A= (B-C) 8 6,042,361 3,141,041 14 B. Income Tax 11,028,753 15 C. Defferred Tax Assets 4,986,392 16 Transferred to Life Fund 11 38,463,504 - Total Expenses (B) 125,739,972 83,620,044 17 Net profit/(loss) C = (A-B) 134,973,897 321,435,019 18 Expenses pertains to Prevoius year - 19 Profit transferred from previous year 81,562,486 71,567,394 Amount available for Appropriation 216,536,383 393,002,413 20 (a) Deferred tax reserve 17 4,986,392 112,872 (b) Capital reserve 17 - (c) Special reserve 17 - (d) Other reserve 17 - (e) Proposed dividend (f) Bonus Share 17 160,161,300 265,224,375 (g) Cash dividend 26(A) 8,429,542 13,959,178 (h) Catastrophy reserve 18 13,497,390 32,143,502 Profit transferred to Balance sheet 29,461,759 81,562,486

Schedule 2,7,8 &10 to 15,17,18 &26A are integral part of this Profit & Loss Account.







NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] Plss[t cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 8,523,336,666 6,958,011,328 2 k'gaL{df sldzg cfo 29,100,383 13,651,753 3 nufgL, shf{ tyf cGoaf6 cfo @ 2,108,508,864 1,455,953,439 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 393,610,079 291,749,820 5 cGo k|ToIf cfo 84,666,973 76,952,197 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf 16,800,307 12,193,483 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf 118,033,567 64,693,019 hDdf cfo -s_ 11,274,056,839 8,873,205,039 Joo 8 bfjL e'QmfgL -v'b_ $ 1,761,668,889 710,464,311 9 clestf{ sldzg % 939,024,004 838,802,902 10 :jf:Yo k/LIf0f z'Ns 19,570,308 18,344,372 11 k'gaL{df sldzg vr{ - - 12 ;]jf z'Ns -v'b_ ^ 85,233,367 69,580,113 13 cGo k|ToIf vr{ - 206 14 Joj:yfkg vr{ & 443,995,252 419,295,145 15 cfos/ * 280,445,177 119,681,037 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( 21,316,292 16,800,307 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf 540,139,392 118,033,567 hDdf Joo -v_ 4,091,392,681 2,311,001,960 18 hLjg aLdf sf]ifdf ;f/]sf] art 7,411,571,490 6,538,426,296 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ –228,907,333_ 23,776,783

cg';"rL ! b]lv ( ;Dd o;sf cleGg c+u x'g\ .





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LIFE INSURANCE CORPORATION (NEPAL) LIMITEDConsolidated Revenue Account For the F. Y. 2073/074 (2016/17)

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 8,523,336,666 6,958,011,328 2 Re- Insurance Commission Income 29,100,383 13,651,753 3 Investment, Loan And Other Income 2 2,108,508,864 1,455,953,439 4 Income From Policy Loan 3 393,610,079 291,749,820 5 Other Direct Income 84,666,973 76,952,197 6 Provision for outstanding claims at the begin. Of year 9 16,800,307 12,193,483 7 Provision for unexpired risk at the beginning of the year 26 118,033,567 64,693,019 Total Income (A) 11,274,056,839 8,873,205,039 Expenditure 8 Claim Payment (Net) 4 1,761,668,889 710,464,311 9 Agent commisions 5 939,024,004 838,802,902 10 Medical Fees 19,570,308 18,344,372 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 85,233,367 69,580,113 13 Other Direct Expenses - 206 14 Management Expenses 7 443,995,252 419,295,145 15 Income Tax 8 280,445,177 119,681,037 16 Provision for Outstanding claim to be paid at the end of the year 9 21,316,292 16,800,307 17 Provision for unexpired Risk to be paid at the end of the year 26 540,139,392 118,033,567 Total Expenditure (B) 4,091,392,681 2,311,001,960 18 Surplus Transferred to Life Fund (A-B) 7,411,571,490 6,538,426,296 19 Surplus / Loss Transferred to Profit & Loss Account (228,907,333) 23,776,783

Schedule 1 to 9 & 26 are integral part of this Revenue Account.







NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] ;fjlws hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 3,647,220,960 2,803,770,085 2 k'gaL{df sldzg cfo 2,529,521 4,169,980 3 nufgL, shf{ tyf cGoaf6 cfo @ 866,335,576 600,195,348 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 159,559,883 120,552,210 5 cGo k|ToIf cfo 32,831,521 27,048,143 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf 6,194,215 4,449,855 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 4,714,671,676 3,560,185,621 Joo 8 bfjL e'QmfgL -v'b_ $ 896,826,876 296,426,254 9 clestf{ sldzg % 446,350,805 376,469,308 10 :jf:Yo k/LIf0f z'Ns 10,292,663 8,941,848 11 k'gaL{df sldzg vr{ - - 12 ;]jf z'Ns -v'b_ ^ 36,472,209 28,037,701 13 cGo k|ToIf vr{ - - 14 Joj:yfkg vr{ & 188,005,442 163,795,802 15 cfos/ * 114,288,290 50,260,424 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( 11,257,137 6,194,215 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 1,703,493,422 930,125,552 18 hLjg aLdf sf]ifdf ;f/]sf] art 3,011,178,254 2,630,060,069 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Endowment Policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 3,647,220,960 2,803,770,085 2 Re- Insurance Commission Income 2,529,521 4,169,980 3 Investment, Loan And Other Income 2 866,335,576 600,195,348 4 Income From Policy Loan 3 159,559,883 120,552,210 5 Other Direct Income 32,831,521 27,048,143 6 Provision for outstanding claims at the begin. Of year 6,194,215 4,449,855 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 4,714,671,676 3,560,185,621 Expenditure 8 Claim Payment (Net) 4 896,826,876 296,426,254 9 Agent commisions 5 446,350,805 376,469,308 10 Medical Fees 10,292,663 8,941,848 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 36,472,209 28,037,701 13 Other Direct Expenses - - 14 Management Expenses 7 188,005,442 163,795,802 15 Income Tax 8 114,288,290 50,260,424 16 Provision for Outstanding claim to be paid at the end of the year 9 11,257,137 6,194,215 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 1,703,493,422 930,125,552 18 Surplus Transferred to Life Fund (A-B) 3,011,178,254 2,630,060,069 19 Surplus/ loss Transferred to Profit & Loss Account - -

Schedule 1 to 9 are integral part of this Revenue Account.







NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 648,683,955 632,483,337 2 k'gaL{df sldzg cfo 156,403 541,315 3 nufgL, shf{ tyf cGoaf6 cfo @ 279,706,911 216,338,794 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 40,914,568 34,878,434 5 cGo k|ToIf cfo 12,266,556 12,066,591 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf 7,051,284 5,336,033 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 988,779,677 901,644,504 Joo 8 bfjL e'QmfgL -v'b_ $ 342,412,140 191,321,749 9 clestf{ sldzg % 44,043,521 45,159,265 10 :jf:Yo k/LIf0f z'Ns 491,230 496,942 11 k'gaL{df sldzg vr{ - - 12 ;]jf z'Ns -v'b_ ^ 6,486,840 6,324,833 13 cGo k|ToIf vr{ - - 14 Joj:yfkg vr{ & 35,529,228 39,647,609 15 cfos/ * 41,140,218 20,349,640 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( 6,530,730 7,051,284 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 476,633,907 310,351,322 18 hLjg aLdf sf]ifdf ;f/]sf] art 512,145,770 591,293,182 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Anticipated Endowment Policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 648,683,955 632,483,337 2 Re- Insurance Commission Income 156,403 541,315 3 Investment, Loan And Other Income 2 279,706,911 216,338,794 4 Income From Policy Loan 3 40,914,568 34,878,434 5 Other Direct Income 12,266,556 12,066,591 6 Provision for outstanding claims at the begin. Of year 7,051,284 5,336,033 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 988,779,677 901,644,504 Expenditure 8 Claim Payment (Net) 4 342,412,140 191,321,749 9 Agent commisions 5 44,043,521 45,159,265 10 Medical Fees 491,230 496,942 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 6,486,840 6,324,833 13 Other Direct Expenses - - 14 Management Expenses 7 35,529,228 39,647,609 15 Income Tax 8 41,140,218 20,349,640 16 Provision for Outstanding claim to be paid at the end of the year 9 6,530,730 7,051,284 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 476,633,907 310,351,322 18 Surplus Transferred to Life Fund (A-B) 512,145,770 591,293,182 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 3,290,204,389 2,823,187,326 2 k'gaL{df sldzg cfo 3,421,707 6,496,453 3 nufgL, shf{ tyf cGoaf6 cfo @ 825,298,303 561,477,803 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 172,806,028 125,092,609 5 cGo k|ToIf cfo 34,250,019 33,208,712 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf 3,554,808 2,407,595 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 4,329,535,254 3,551,870,498 Joo 8 bfjL e'QmfgL -v'b_ $ 420,960,562 172,996,562 9 clestf{ sldzg % 353,259,484 320,289,093 10 :jf:Yo k/LIf0f z'Ns 5,821,543 6,202,088 11 k'gaL{df sldzg vr{ - - 12 ;]jf z'Ns -v'b_ ^ 32,902,045 28,231,873 13 cGo k|ToIf vr{ - - 14 Joj:yfkg vr{ & 173,174,291 169,643,099 15 cfos/ * 109,872,958 45,127,861 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( 3,528,425 3,554,808 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 1,099,519,308 746,045,384 18 hLjg aLdf sf]ifdf ;f/]sf] art 3,230,015,946 2,805,825,114 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Modified Endowment Policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 3,290,204,389 2,823,187,326 2 Re- Insurance Commission Income 3,421,707 6,496,453 3 Investment, Loan And Other Income 2 825,298,303 561,477,803 4 Income From Policy Loan 3 172,806,028 125,092,609 5 Other Direct Income 34,250,019 33,208,712 6 Provision for outstanding claims at the begin. Of year 3,554,808 2,407,595 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 4,329,535,254 3,551,870,498 Expenditure 8 Claim Payment (Net) 4 420,960,562 172,996,562 9 Agent commisions 5 353,259,484 320,289,093 10 Medical Fees 5,821,543 6,202,088 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 32,902,045 28,231,873 13 Other Direct Expenses - - 14 Management Expenses 7 173,174,291 169,643,099 15 Income Tax 8 109,872,958 45,127,861 16 Provision for Outstanding claim to be paid at the end of the year 9 3,528,425 3,554,808 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 1,099,519,308 746,045,384 18 Surplus Transferred to Life Fund (A-B) 3,230,015,946 2,805,825,114 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] cfhLjg hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 607,978,574 482,654,231 2 k'gaL{df sldzg cfo 928,746 2,382,303 3 nufgL, shf{ tyf cGoaf6 cfo @ 93,015,421 56,922,369 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 18,826,645 10,446,578 5 cGo k|ToIf cfo 4,927,552 3,882,109 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 725,676,938 556,287,590 Joo 8 bfjL e'QmfgL -v'b_ $ 52,442,994 25,524,971 9 clestf{ sldzg % 91,736,196 79,645,722 10 :jf:Yo k/LIf0f z'Ns 2,744,622 2,495,800 11 k'gaL{df sldzg vr{ - - 12 ;]jf z'Ns -v'b_ ^ 6,079,786 4,826,542 13 cGo k|ToIf vr{ - - 14 Joj:yfkg vr{ & 30,413,775 27,339,248 15 cfos/ * 10,547,423 3,407,108 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 193,964,796 143,239,391 18 hLjg aLdf sf]ifdf ;f/]sf] art 531,712,142 413,048,199 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Whole Life Policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 607,978,574 482,654,231 2 Re- Insurance Commission Income 928,746 2,382,303 3 Investment, Loan And Other Income 2 93,015,421 56,922,369 4 Income From Policy Loan 3 18,826,645 10,446,578 5 Other Direct Income 4,927,552 3,882,109 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 725,676,938 556,287,590 Expenditure 8 Claim Payment (Net) 4 52,442,994 25,524,971 9 Agent commisions 5 91,736,196 79,645,722 10 Medical Fees 2,744,622 2,495,800 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 6,079,786 4,826,542 13 Other Direct Expenses - - 14 Management Expenses 7 30,413,775 27,339,248 15 Income Tax 8 10,547,423 3,407,108 16 Provision for Outstanding claim to be paid at the end of the year 9 - - 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 193,964,796 143,239,391 18 Surplus Transferred to Life Fund (A-B) 531,712,142 413,048,199 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] DofbL hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 7,955,309 12,353,148 2 k'gaL{df sldzg cfo 27,385 56,921 3 nufgL, shf{ tyf cGoaf6 cfo @ 3,863,185 2,844,158 4 aLdfn]vsf] lwtf]df shf{af6 cfo # - - 5 cGo k|ToIf cfo 25,698 36,455 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 11,871,577 15,290,682 Joo 8 bfjL e'QmfgL -v'b_ $ 2,000,000 1,100,000 9 clestf{ sldzg % 338,740 1,176,316 10 :jf:Yo k/LIf0f z'Ns 99,716 98,001 11 k'gaL{df sldzg vr{ - 12 ;]jf z'Ns -v'b_ ^ 79,553 123,531 13 cGo k|ToIf vr{ - 14 Joj:yfkg vr{ & 449,334 758,662 15 cfos/ * 575,182 240,188 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - hDdf Joo -v_ 3,542,525 3,496,698 18 hLjg aLdf sf]ifdf ;f/]sf] art 8,329,052 11,793,984 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Term Policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 7,955,309 12,353,148 2 Re- Insurance Commission Income 27,385 56,921 3 Investment, Loan And Other Income 2 3,863,185 2,844,158 4 Income From Policy Loan 3 - - 5 Other Direct Income 25,698 36,455 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 11,871,577 15,290,682 Expenditure 8 Claim Payment (Net) 4 2,000,000 1,100,000 9 Agent commisions 5 338,740 1,176,316 10 Medical Fees 99,716 98,001 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 79,553 123,531 13 Other Direct Expenses - - 14 Management Expenses 7 449,334 758,662 15 Income Tax 8 575,182 240,188 16 Provision for Outstanding claim to be paid at the end of the year 9 - - 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 3,542,525 3,496,698 18 Surplus Transferred to Life Fund (A-B) 8,329,052 11,793,984 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] ljz]if DofbL hLjg aLdfsf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 2,305,502 2,704,214 2 k'gaL{df sldzg cfo 2,307 4,622 3 nufgL, shf{ tyf cGoaf6 cfo @ 1,427,633 1,033,686 4 aLdfn]vsf] lwtf]df shf{af6 cfo # - - 5 cGo k|ToIf cfo 27,576 48,993 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 3,763,018 3,791,515 Joo 8 bfjL e'QmfgL -v'b_ $ - - 9 clestf{ sldzg % 119,919 226,768 10 :jf:Yo k/LIf0f z'Ns 4,942 31,849 11 k'gaL{df sldzg vr{ - 12 ;]jf z'Ns -v'b_ ^ 23,055 27,042 13 cGo k|ToIf vr{ - 14 Joj:yfkg vr{ & 128,593 165,891 15 cfos/ * 218,868 99,945 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 495,377 551,495 18 hLjg aLdf sf]ifdf ;f/]sf] art 3,267,641 3,240,020 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of special term policy For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 2,305,502 2,704,214 2 Re- Insurance Commission Income 2,307 4,622 3 Investment, Loan And Other Income 2 1,427,633 1,033,686 4 Income From Policy Loan 3 - - 5 Other Direct Income 27,576 48,993 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 3,763,018 3,791,515 Expenditure 8 Claim Payment (Net) 4 - - 9 Agent commisions 5 119,919 226,768 10 Medical Fees 4,942 31,849 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 23,055 27,042 13 Other Direct Expenses - - 14 Management Expenses 7 128,593 165,891 15 Income Tax 8 218,868 99,945 16 Provision for Outstanding claim to be paid at the end of the year 9 - - 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 495,377 551,495 18 Surplus Transferred to Life Fund (A-B) 3,267,641 3,240,020 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] cGo hLjg aLdf -Psn aLdfz'Ns_ sf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 124,091,174 94,277,937 2 k'gaL{df sldzg cfo - 159 3 nufgL, shf{ tyf cGoaf6 cfo @ 16,495,179 7,930,853 4 aLdfn]vsf] lwtf]df shf{af6 cfo # 1,502,955 779,989 5 cGo k|ToIf cfo 338,051 661,194 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - - hDdf cfo -s_ 142,427,359 103,650,132 Joo 8 bfjL e'QmfgL -v'b_ $ 14,956,875 11,152,175 9 clestf{ sldzg % 2,481,910 1,885,588 10 :jf:Yo k/LIf0f z'Ns 110,638 77,845 11 k'gaL{df sldzg vr{ - 12 ;]jf z'Ns -v'b_ ^ 1,240,911 942,778 13 cGo k|ToIf vr{ - - 14 Joj:yfkg vr{ & 7,137,755 6,230,147 15 cfos/ * 1,576,583 195,871 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf - - hDdf Joo -v_ 27,504,672 20,484,404 18 hLjg aLdf sf]ifdf ;f/]sf] art 114,922,687 83,165,728 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of other policy (Single Premium) For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 124,091,174 94,277,937 2 Re- Insurance Commission Income - 159 3 Investment, Loan And Other Income 2 16,495,179 7,930,853 4 Income From Policy Loan 3 1,502,955 779,989 5 Other Direct Income 338,051 661,194 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 142,427,359 103,650,132 Expenditure 8 Claim Payment (Net) 4 14,956,875 11,152,175 9 Agent commisions 5 2,481,910 1,885,588 10 Medical Fees 110,638 77,845 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 1,240,911 942,778 13 Other Direct Expenses - - 14 Management Expenses 7 7,137,755 6,230,147 15 Income Tax 8 1,576,583 195,871 16 Provision for Outstanding claim to be paid at the end of the year 9 - - 17 Provision for unexpired Risk to be paid at the end of the year - Total Expenditure (B) 27,504,672 20,484,404 18 Surplus Transferred to Life Fund (A-B) 114,922,687 83,165,728 19 Surplus/ loss Transferred to Profit & Loss Account - -








NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s aif{ @)&#÷)&$ sf] cGo hLjg aLdf -a}b]lzs /f]huf/ Psn aLdfz'Ns _ sf] cfo Joo lx;fa

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 187,994,676 106,581,050 2 k'gaL{df sldzg cfo 22,034,314 - 3 nufgL, shf{ tyf cGoaf6 cfo @ 21,907,480 9,210,428 4 aLdfn]vsf] lwtf]df shf{af6 cfo # - - 5 cGo k|ToIf cfo - - 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf 118,033,567 64,693,019 hDdf cfo -s_ 349,970,037 180,484,497 Joo 8 bfjL e'QmfgL -v'b_ $ 32,069,441 11,942,601 9 clestf{ sldzg % - 13,950,841 10 :jf:Yo k/LIf0f z'Ns 200 - 11 k'gaL{df sldzg vr{ - 12 ;]jf z'Ns -v'b_ ^ 1,879,947 1,065,811 13 cGo k|ToIf vr{ - 206 14 Joj:yfkg vr{ & 8,790,490 11,714,688 15 cfos/ * 2,210,013 - 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf 533,222,464 118,033,567 hDdf Joo -v_ 578,172,555 156,707,714 18 hLjg aLdf sf]ifdf ;f/]sf] art - - 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ –228,202,518_ 23,776,783






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of other policy (O.E Single Premium) For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 187,994,676 106,581,050 2 Re- Insurance Commission Income 22,034,314 - 3 Investment, Loan And Other Income 2 21,907,480 9,210,428 4 Income From Policy Loan 3 - - 5 Other Direct Income - - 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year 118,033,567 64,693,019 Total Income (A) 349,970,037 180,484,497 Expenditure 8 Claim Payment (Net) 4 32,069,441 11,942,601 9 Agent commisions 5 - 13,950,841 10 Medical Fees 200 - 11 Re- Insurance Commission Expenses - 12 Service Charges (Net) 6 1,879,947 1,065,811 13 Other Direct Expenses - 206 14 Management Expenses 7 8,790,490 11,714,688 15 Income Tax 8 2,210,013 - 16 Provision for Outstanding claim to be paid at the end of the year 9 - - 17 Provision for unexpired Risk to be paid at the end of the year 533,222,464 118,033,567 Total Expenditure (B) 578,172,555 156,707,714 18 Surplus Transferred to Life Fund (A-B) - 19 Surplus/ loss Transferred to Profit & Loss Account (228,202,518) 23,776,783








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qm=;+= ljj/0f cg';"rL o; aif{ ut aif{ cfo 1 aLdfz'Ns -v"b_ ! 6,902,127 2 k'gaL{df sldzg cfo - 3 nufgL, shf{ tyf cGoaf6 cfo @ 459,176 4 aLdfn]vsf] lwtf]df shf{af6 cfo # - 5 cGo k|ToIf cfo - 6 cfly{s aif{sf] z'?sf] e'QmfgL x'g afFsL bfjL afkt Joj:yf - 7 cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf - hDdf cfo -s_ 7,361,303 - Joo 8 bfjL e'QmfgL -v'b_ $ - 9 clestf{ sldzg % 693,430 10 :jf:Yo k/LIf0f z'Ns 4,754 11 k'gaL{df sldzg vr{ - 12 ;]jf z'Ns -v'b_ ^ 69,021 13 cGo k|ToIf vr{ - 14 Joj:yfkg vr{ & 366,344 15 cfos/ * 15,641 16 cfly{s aif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf ( - 17 cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf 6,916,928 hDdf Joo -v_ 8,066,118 - 18 hLjg aLdf sf]ifdf ;f/]sf] art - - 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ –704,815_ -






ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of other policy (Micro/Group Micro Term Insurance) For the F. Y. 2073/074

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 6,902,127 2 Re- Insurance Commission Income - 3 Investment, Loan And Other Income 2 459,176 4 Income From Policy Loan 3 - 5 Other Direct Income - 6 Provision for outstanding claims at the begin. Of year - 7 Provision for unexpired risk at the beginning of the year - Total Income (A) 7,361,303 - Expenditure 8 Claim Payment (Net) 4 - 9 Agent commisions 5 693,430 10 Medical Fees 4,754 11 Re- Insurance Commission Expenses - 12 Service Charges (Net) 6 69,021 13 Other Direct Expenses - 14 Management Expenses 7 366,344 15 Income Tax 8 15,641 16 Provision for Outstanding claim to be paid at the end of the year 9 - 17 Provision for unexpired Risk to be paid at the end of the year 6,916,928 Total Expenditure (B) 8,066,118 - 18 Surplus Transferred to Life Fund (A-B) - 19 Surplus/ loss Transferred to Profit & Loss Account (704,815) -








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ldlt M @)&%÷)&÷!&


LIFE INSURANCE CORPORATION (NEPAL)LTD.Cash Flow Statement For The Period Of 17th July 2014 To 16th July 2015

S.N Particulars Current year Previous yearA Cash flow from operating activities: Premium Income 8,709,054,018 7,070,106,357 Late fee Income - - Re-Insurance Income - - Re-Insurance Commission Income 29,100,383 13,651,753 Other Direct Income 84,666,973 76,952,197 Claimed recevory from Re-Insurer 40,704,571 25,653,903 Re-Insurance Premium Paid (189,927,404) (91,583,668) Re-Insurance commission payment - - Agent commission payment (876,404,323) (852,065,740) Medical examination fee payment (19,080,113) (17,268,949) Death claim payment (231,579,649) (133,414,631) Maturity claim payment (787,613,076) (148,168,441) Partial-maturity claim payment (158,588,750) (131,865,999) Surrender value claim payment (633,778,197) (316,230,991) Other claim payment (2,242,569) (6,438,150) Service fee payment (68,843,891) (53,040,423) Other Direct Expenses (347,514) (1,173,852) Management expenditure payment (456,662,306) (452,663,468) Bonus Paid to Employees (32,547,805) (24,997,696) Income Tax Paid (275,565,134) (215,432,275) (Increase)/decrese in current assets 68,184,815 34,593,530 (Increase)/decrese in current liabilities 137,833,356 (67,705,485) Net Cash Flow from Operaing activities (A) 5,336,363,387 4,708,907,972 B Cash flow from Investing Activities: (Increase) Decrease in fixed assets (20,789,677) (9,248,651) (Increase) Decrease in investment in government guaranteed securities. - 901,717,000 (Increase) Decrease in investment in fixed deposit of bank and financial institution. (7,508,500,000) (7,105,000,000) (Increase) Decrease in investment in other deposit of bank and financial institution. 886,084,388 691,130,881 Increase/Decrease in Equtity Share Investments (178,911,312) (224,206,477) (Increase) Decrease in investment in preference share/debenture (464,169) 10,696,253 (Increase) Decrease in other investment (Premium On Investment) - - (Increase) Decrease in loans against insurance Policy (1,317,204,438) (704,255,319) (Increase) Decrease in other loans and advances (64,320,788) (11,993,354) Interest Income From Investment 1,910,354,023 1,368,439,805 Dividend Received 9,790,281 696,637 Rental income - - Interest On Policy Loan 308,189,789 187,175,102 Others Indirect Income 1,603,358 3,614,960 Gain on sale of Investment 310,481,835 206,898,766 Net Cash Flow from Investing Activities (B) (5,663,686,709) (4,684,334,397)C Cash flow from Financing Activities Amount received from Shares - - (Increase) Decrease in o/s debt - - Increase/Decrease in short term debt 500,000,000 - Interest Paid on Loan and Debt (20,041,096) - Dividend paid (13,959,178) (11,257,401) Net cash flow from Financing Activities ( C) 465,999,726 (11,257,401) Net cash flow from overall activities of this year = (A + B + C) 138,676,404 13,316,174 Opening Balance of Cash & Bank Balance 471,359,944 458,043,770 Closing Balance of Cash & Bank Balance 610,036,348 471,359,944






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hijit

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sh D

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ar K

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hok A

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al

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enug

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harm

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rect

or

Dire

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or

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man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

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arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018

!^50 jflif{s k|ltj]bgcf}+-s

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12,201,481

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15,889

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qm=;

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acce

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649,333,5

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(C) D

IREC

T IN

SUR

ANCE

PR

EMIU

M

S.N

. Ty

pes

of In

sura

nce

Firs

t Yea

r Pre

miu

m

Ren

ewal

Pre

miu

m

Sing

le P

rem

ium

To

tal d

irec

t Pre

miu

m

Cu

rren

t yea

r Pr

evio

us y

ear

Curr

ent y

ear

Prev

ious

yea

r Cu

rren

t yea

r Pr

evio

us y

ear

Curr

ent y

ear

Prev

ious

yea

r1

Endo

wm

ent

1,1

34,9

67,5

12

1,0

00,9

24,4

89

2,5

22,0

12,0

99

1,8

11,5

51,7

69

-

-

3,6

56,9

79,6

11

2,8

12,4

76,2

58

2 An

ticip

ated

End

owm

ent

61,

167,

278

5

7,67

4,43

6

588

,166

,301

5

75,4

65,2

61

-

-

649

,333

,579

6

33,1

39,6

97

3 M

odifi

ed E

ndow

men

t 7

53,7

09,3

86

745

,202

,406

2

,553

,243

,444

2

,094

,996

,942

-

-

3

,306

,952

,830

2

,840

,199

,348

4

Who

le L

ife P

olic

y 2

07,2

92,8

61

171

,890

,729

4

04,9

08,6

20

315

,353

,570

-

-

6

12,2

01,4

81

487

,244

,299

5

Term

Insu

ranc

e Po

licy

2,9

08,7

28

7,1

26,4

27

5,1

78,5

43

5,3

89,4

62

-

-

8,0

87,2

71

12,

515,

889

6 Sp

ecia

l Ter

m P

olic

y 2

60,5

50

570

,575

2

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,298

2

,146

,147

-

-

2

,313

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2

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7

Othe

r Life

Insu

ranc

e (En

dowm

ent

Si

ngle

Prem

ium

) -

-

-

-

1

24,0

95,5

01

94,

279,

422

1

24,0

95,5

01

94,

279,

422

8 Ot

her L

ife In

sura

nce (

Sing

le Pr

emium

O.E

) -

-

-

-

3

42,1

55,5

96

187

,534

,722

3

42,1

55,5

96

187

,534

,722

9

Othe

r Life

Insu

rance

(Micr

o Term

insu

rance

) -

-

-

-

6

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,301

-

6,9

34,3

01

-

To

tal

2,1

60,3

06,3

15

1,9

83,3

89,0

62

6,0

75,5

62,3

05

4,8

04,9

03,1

51

473

,185

,398

2

81,8

14,1

44

8,7

09,0

54,0

18

7,0

70,1

06,3

57

Sche

dule

- 1

(A) I

NSU

RAN

CE P

REM

IUM

(NET

)

S.N

. Ty

pes

of In

sura

nce

Gro

ss In

sura

nce

Prem

ium

R

e-in

sura

nce

Prem

ium

pai

d (c

eded

) In

sura

nce

Prem

ium

(Net

)

Cu

rren

t Yea

r La

st Y

ear

Curr

ent Y

ear

Last

Yea

r Cu

rren

t Yea

r La

st Y

ear

1 En

dow

men

t 3

,656

,979

,611

2

,812

,476

,258

9

,758

,651

8

,706

,173

3

,647

,220

,960

2

,803

,770

,085

2

Antic

ipat

ed E

ndow

men

t 6

49,3

33,5

79

633

,139

,697

6

49,6

24

656

,360

6

48,6

83,9

55

632

,483

,337

3

Mod

ified

End

owm

ent

3,3

06,9

52,8

30

2,8

40,1

99,3

48

16,

748,

441

1

7,01

2,02

2

3,2

90,2

04,3

89

2,8

23,1

87,3

26

4 W

hole

Life

Pol

icy

612

,201

,481

4

87,2

44,2

99

4,2

22,9

07

4,5

90,0

68

607

,978

,574

4

82,6

54,2

31

5 Te

rm In

sura

nce

Polic

y 8

,087

,271

1

2,51

5,88

9

131

,962

1

62,7

41

7,9

55,3

09

12,

353,

148

6 Sp

ecia

l Ter

m P

olic

y 2

,313

,848

2

,716

,722

8

,346

1

2,50

8

2,3

05,5

02

2,7

04,2

14

7 O

ther L

ife In

suran

ce (E

ndow

ment

Single

Prem

ium)

124

,095

,501

9

4,27

9,42

2

4,3

27

1,4

85

124

,091

,174

9

4,27

7,93

7 8

Othe

r Life

Insu

ranc

e (S

ingl

e Pr

emiu

m O

.E)

342

,155

,596

1

87,5

34,7

22

154

,160

,920

8

0,95

3,67

2

187

,994

,676

1

06,5

81,0

50

9 Ot

her L

ife In

sura

nce (

Micr

o Te

rm in

sura

nce)

6

,934

,301

-

32,

174

-

6,9

02,1

27

-

To

tal

8,7

09,0

54,0

18

7,0

70,1

06,3

57

185

,717

,352

1

12,0

95,0

29

8,5

23,3

36,6

66

6,9

58,0

11,3

28

(B) G

RO

SS IN

SUR

ANCE

PR

EMIU

M

S.N

. Ty

pes

of In

sura

nce

Dir

ect P

rem

ium

Re

-insu

ranc

e Pr

emiu

m re

ceiv

ed (a

ccep

ted)

G

ross

Insu

ranc

e Pr

emiu

m

Cu

rren

t yea

r Pr

evio

us y

ear

Curr

ent y

ear

Prev

ious

yea

r Cu

rren

t yea

r Pr

evio

us y

ear

1 En

dow

men

t 3

,656

,979

,611

2

,812

,476

,258

-

-

3

,656

,979

,611

2

,812

,476

,258

2

Antic

ipat

ed E

ndow

men

t 6

49,3

33,5

79

633

,139

,697

-

-

6

49,3

33,5

79

633

,139

,697

3

Mod

ified

End

owm

ent

3,3

06,9

52,8

30

2,8

40,1

99,3

48

-

-

3,3

06,9

52,8

30

2,8

40,1

99,3

48

4 W

hole

Life

Pol

icy

612

,201

,481

4

87,2

44,2

99

-

-

612

,201

,481

4

87,2

44,2

99

5 Te

rm In

sura

nce

Polic

y 8

,087

,271

1

2,51

5,88

9

-

-

8,0

87,2

71

12,

515,

889

6 Sp

ecia

l Ter

m P

olic

y 2

,313

,848

2

,716

,722

-

-

2

,313

,848

2

,716

,722

7

Othe

r Life

Insu

rance

(End

owme

nt Sin

gle P

remium

) 1

24,0

95,5

01

94,

279,

422

-

-

1

24,0

95,5

01

94,

279,

422

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) 3

42,1

55,5

96

187

,534

,722

-

-

3

42,1

55,5

96

187

,534

,722

9

Othe

r Life

Insu

ranc

e (M

icro

Term

insu

ranc

e)

6,9

34,3

01

-

-

-

6

,934

,301

-

To

tal

8

,709

,054

,018

7

,070

,106

,357

-

-

8

,709

,054

,018

7

,070

,106

,357

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018


nufgL, shf{ tyf cGoaf6 cfo cg';"rL–@

qm=;+= ljj/0f o; aif{ ut aif{1 ;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6Laf6 cfo 37,586,210 106,071,740 2 jfl0fHo a}+ssf] d'2tL lgIf]kaf6 cfo 1,608,766,588 934,973,131 3 ljsf; a}+ssf] d'2tL lgIf]kaf6 cfo 93,701,355 86,847,065 4 gful/s nufgL of]hgfaf6 cfo 1,280,000 1,280,000 5 ljQLo ;+:yfsf] d'2tL lgIf]kaf6 cfo 11,288,355 48,910,238 6 cfjf; ljQ sDkgLsf] ;fwf/0f z]o/af6 nfef+z - - 7 cGo klAns sDkgLsf] ;fwf/0f z]o/af6 nfef+z 9,790,281 696,637 8 a}+s tyf ljQLo ;+:yfsf] cu|flwsf/ z]o/af6 nfef+z - - 9 a}+s tyf ljQLo ;+:yfsf] l8j]Gr/af6 cfo 98,935,970 99,220,720 10 cGo af6 cfo 23,695,841 20,858,885 11 shf{af6 cfo - - 12 cGo lgIf]kaf6 -d'2tL afx]s_ cfo 30,785,992 27,904,634 13 nufgL laqmLdf gfkmf 310,481,835 206,898,766 Go"g nufgL laqmLdf gf]S;fg - - 14 nufgL -v/Lb_ df gfkmf - - Go"g nufgL -v/Lb_ df gf]S;fg –4,958,306_ –6,177,782_15 l:y/ ;DkQL laqmLaf6 gfkmf 344,527 - Go"g l:y/ ;DkQL laqmLaf6 gf]S;fg –1,874_ –304,237_16 vftf ckn]vg - 17 cl3Nnf jif{;+u ;DalGwt cfo - - 18 cGo cfo - z]o/ sf/f]jf/_ 50 15,400 19 cGo cfo - z]o/ sf/f]jf/_ 970,365 3,217,499 20 pkbfg sf]ifdf Aofh 632,943 382,062 21 OG:of]/]G; k'naf6 k|fKt cfo - hDdf 2,223,300,132 1,530,794,758 nufgL, shf{ tyf cGoaf6 cfosf] afF8kmfF8 gfkmf gf]S;fg lx;fadf ;f/]sf] 114,791,269 74,841,319 ;fjlws hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 866,335,576 600,195,348 clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 279,706,911 216,338,794 ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 825,298,303 561,477,803 cfhLjg hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 93,015,421 56,922,369 DofbL hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 3,863,185 2,844,158 ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fjdf ;f/]sf] 1,427,633 1,033,686 cGo HfLjg aLdf - Psn aLdfz'Ns_ sf] cfo Aoo lx;fjdf ;f/]sf] 16,495,179 7,930,853 cGo hLjg aLdf -a}b]lzs /f]huf/ Psn aLdfz'Ns_ sf] cfo Aoo lx;fjdf ;f/]sf] 21,907,480 9,210,428 cGo hLjg aLdf -n3' Psn aLdfz'Ns _ sf] cfo Aoo lx;fjdf ;f/]sf] 459,176 - hDdf 2,223,300,132 1,530,794,758





ldlt M @)&%÷)&÷!&


Income from Investment, Loans and Other Sources Schedule -2

S.N. Particulars Current year Previous year1 Income from Government Securities & Securities Guaranteed by Govt. 37,586,210 106,071,740 2 Income from fixed deposit of Commercial Banks 1,608,766,588 934,973,131 3 Income from fixed deposit of Development Banks 93,701,355 86,847,065 4 Income from Investment in CIT/ Mutual Fund 1,280,000 1,280,000 5 Income from fixed deposit of Finance Company 11,288,355 48,910,238 6 Dividend income from the ordinary shares of housing finance company - - 7 Dividend income from ordinary shares of other public company 9,790,281 696,637 8 Dividend income from preference share of bank and financial institution - - 9 Income from debenture of bank and financial institution 98,935,970 99,220,720 10 Income from Others (Loans& Advances) 23,695,841 20,858,885 11 Income from Loan - - 12 Income from Other Deposit (Except Fixed) 30,785,992 27,904,634 13 Profit on sale of investment 310,481,835 206,898,766 Less: Loss on sale of Investment - - 14 Profit on purchase of investment - - Less: Loss on purchase of Investment (4,958,306) (6,177,782)15 Profit on sale of fixed assets 344,527 - Less: Loss on sale of Fixed Assets (1,874) (304,237)16 Written Off/ Amortized - 17 Incomes related to Previous year's - - 18 Other Income (Share Transaction) 50 15,400 19 Other Miscellaneous Income 970,365 3,217,499 20 Interest on Gratuity Fund 632,943 382,062 21 Income from Insurance Pool - Total 2,223,300,132 1,530,794,758 Appopriation of income from investment, loan and others Transferred to profit and loss account 114,791,269 74,841,319 Transferred to Reveue Account of Endowment 866,335,576 600,195,348 Transferred to Revenue Account of Anticipated Endowment 279,706,911 216,338,794 Transferred to Revenue Account of Modified Endowment 825,298,303 561,477,803 Transferred to Revenue Account of Whole Life Policy 93,015,421 56,922,369 Transferred to Revenue Account of Term Insurance Policy 3,863,185 2,844,158 Transferred to Revenue Account of SpecialTerm Insurance Policy 1,427,633 1,033,686 Transferred to Revenue Account of Other Insurance Policy 16,495,179 7,930,853 Transferred to Revenue Account of Other Insurance Policy O.E 21,907,480 9,210,428 Transferred to Revenue Account of Other Insurance Policy(Micro Term Insurance) 459,176 - Total 2,223,300,132 1,530,794,758






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16 th ANNUAL REPORT 55Po

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Loan

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ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018

!^56 jflif{s k|ltj]bgcf}+c

les

tf{ s

ldz

g

cg';

"rL–

%

qm=;+=

aL

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f{sf] a

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cle

stf{ s

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gj

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df c

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ut j

if{ o;

jif{

ut j

if{ o;

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2

15,951

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2

10,854

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1

60,5

17,4

12

-

-

446,35

0,80

5 3

76,4

69,308

2

clu

|d e'Q

mfgL ;

fjlw

s

15,

010,11

5

13,98

0,02

2

29,03

3,406

3

1,17

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3

-

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44,043,52

1 4

5,15

9,26

5 3

?kf

Gtl/t

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lws

167

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1

56,641,97

3

186,22

6,66

7 16

3,64

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0

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353,25

9,484

32

0,28

9,09

3 4

cfh

Ljg

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9,21

3,03

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42,52

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8,479

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!&

16 th ANNUAL REPORT 57Ag

ent's

Com

mis

ion

Sche

dule

- 5

S.N.

Ty

pes

of In

sura

nce

Agen

t's C

omm

issi

on

Agen

t's c

omm

. Ag

ent's

com

mis

sion

To

tal A

gent

's C

omm

issi

on

on

Firs

t Pre

miu

m

on R

enew

al P

rem

ium

in

sin

gle

prem

uim

Curr

ent y

ear

Prev

ious

yea

r Cu

rren

t yea

r Pr

evio

us y

ear

Curr

ent y

ear

Prev

ious

yea

r Cu

rren

t yea

r Pr

evio

us y

ear

1 En

dow

men

t 2

35,4

95,9

18

215

,951

,896

2

10,8

54,8

86

160

,517

,412

-

-

4

46,3

50,8

05

376

,469

,308

2 An

ticip

ated

End

owm

ent

15,

010,

115

1

3,98

0,02

2

29,

033,

406

3

1,17

9,24

3

-

-

44,

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521

4

5,15

9,26

5

3 M

odifi

ed E

ndow

men

t 1

67,0

32,8

17

156

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1

86,2

26,6

67

163

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-

-

3

53,2

59,4

84

320

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hole

Life

Pol

icy

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213,

039

4

1,16

6,05

4

42,

523,

158

3

8,47

9,66

8

-

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91,

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7

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2

5 Te

rm In

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338

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1

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6 Sp

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m P

olic

y 2

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105

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9

3,48

1

121

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-

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1

19,9

19

226

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7 Ot

her L

ife In

sura

nce

(End

owm

ent S

ingl

e Pr

emiu

m)

-

-

-

-

2,4

81,9

10

1,8

85,5

88

2,4

81,9

10

1,8

85,5

88

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) -

-

-

-

-

1

3,95

0,84

1

-

13,

950,

841

9 O

ther

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ranc

e Po

licy(

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ro T

erm

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ranc

e)

-

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-

6

93,4

30

-

To

tal

467

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4

28,8

59,6

95

468

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3

94,1

06,7

77

3,1

75,3

40

15,

836,

429

9

39,0

24,0

05

838

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Net S

ervi

ce C

harg

e Sc

hedu

le -

6

S.N.

Ty

pes

of in

sura

nce

Gros

s Se

rvic

e Fe

e Re

-insu

rer's

sha

re in

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s Se

rvic

e Fe

e

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ervi

ce F

ee

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rren

t yea

r Pr

evio

us y

ear

Curr

ent y

ear

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ious

yea

r Cu

rren

t yea

r Pr

evio

us y

ear

1 En

dow

men

t 3

6,56

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6

28,

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9

7,58

7

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062

3

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9

28,

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2 An

ticip

ated

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owm

ent

6,4

93,3

36

6,3

31,3

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6,4

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6,5

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6,4

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40

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33

3 M

odifi

ed E

ndow

men

t 3

3,06

9,52

8

28,

401,

993

1

67,4

84

170

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3

2,90

2,04

5

28,

231,

873

4 W

hole

Life

Pol

icy

6,1

22,0

15

4,8

72,4

43

42,

229

4

5,90

1

6,0

79,7

86

4,8

26,5

42

5 Te

rm In

sura

nce

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y 8

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3

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123

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6 Sp

ecia

l Ter

m P

olic

y 2

3,13

8

27,

167

8

3

125

2

3,05

5

27,

042

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her L

ife In

sura

nce

(End

owm

ent S

ingl

e Pr

emiu

m)

1,2

40,9

55

942

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4

3

15

1

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9

42,7

79

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) 3

,421

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1

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1

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37

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1,0

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9 O

ther

Insu

ranc

e Po

licy(

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ro T

erm

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tal

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0,70

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3

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1,1

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51

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367

6

9,58

0,11

2

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018


Joj:yfkg vr{ cg';"rL– &

qm=;+= ljj/0f o; aif{ ut aif{1 sd{rf/L vr{ -cg';"rL &=! adf]lhd_ 98,001,436 94,921,993 2 3/ ef8f 21,470,263 20,638,413 3 lah'nL tyf kfgL 2,042,382 2,030,678 4 dd{t tyf ;Def/ -s_ ejg 154,027 3,711 -v_ ;jf/L ;fwg 716,135 591,715 -u_ sfof{no pks/0f 1,049,417 1,389,226 -3_ cGo 90,436 - 5 ;+rf/ 2,395,766 2,469,450 6 5kfO{ tyf d;nGb 14,044,320 8,362,140 7 vr{ x'g] sfof{no ;fdfg 198,631 151,017 8 kl/jxg 3,006,249 2,870,336 9 e|d0f vr{ -eQf ;d]t_ -s_ cfGtl/s 772,440 566,485 -v_ j}b]lzs 375,497 410,438 10 clestf{ tflnd 5,099,399 2,156,201 11 clestf{ cGo 266,983,057 280,072,776 12 aLdfz'Ns 1,343,896 1,284,099 13 ;'/Iff vr{ 646,925 669,865 14 sfg"gL tyf k/fdz{ z'Ns 220,900 375,292 15 kq klqsf tyf k':ts 138,279 138,535 16 lj1fkg tyf k|rf/ k|;f/ 12,718,754 7,573,367 17 Jofkf/ k|j4{g - - 18 cltyL ;Tsf/ 275,000 312,500 19 rGbf tyf pkxf/ 247,452 519,620 20 ;+rfns ;ldlt ;DaGwL vr{ -s_ a}7s eQf 174,000 165,000 -v_ cGo 2,257,741 2,041,729 21 cGo ;ldlt÷pk–;ldlt ;DaGwL vr{ - -s_ a}7s eQf 52,500 50,000 -v_ cGo 71,250 303,737 22 ;fwf/0f ;ef ;DaGwL vr{ 402,302 483,818 23 -s_ aLdfÍLo ;]jf z'Ns 1,850,541 638,118 -v_ aLdfÍLo vr{ - - 24 n]vf k/LIf0f ;DaGwL vr{ - -s_ n]vf k/LIf0f z'Ns 248,600 226,000 -v_ s/ n]vf k/LIf0f z'Ns 124,300 113,000 -u_ lj:t[t n]vf k/LIf0f k|ltj]bg z'Ns 124,300 113,000 -3_ cGo z'Ns - - -ª_ cfGtl/s n]vf k/LIf0f vr{ 621,500 565,000 -r_ cGo vr{ 361,505 362,545 25 Aofh 20,041,096 - 26 a}s rfh{ 473,764 117,173 27 z'Ns tyf b:t"/ 4,254,116 4,254,118 28 Xf; s§L 9,635,143 7,642,640 29 x'nfs l6s6 2,917,912 2,573,454


A) Management Expenditure Schedule -7

S.N. Particulars Current year Previous year1 Employee Expenses (Anx 7.1) 98,001,436 94,921,993 2 Building Rent 21,470,263 20,638,413 3 Water & Electricity 2,042,382 2,030,678 4 Repair & Maintenance A. Building 154,027 3,711 B. Vehicle 716,135 591,715 C. Office Equipment 1,049,417 1,389,226 D. Others 90,436 - 5 Communication 2,395,766 2,469,450 6 Printing and Stationery 14,044,320 8,362,140 7 Non Capital Office Items 198,631 151,017 8 Transportation 3,006,249 2,870,336 9 Travelling Expenses (Including Allowance) A. Internal 772,440 566,485 B. International 375,497 410,438 10 Agent Trainning 5,099,399 2,156,201 11 Other Agents Expenses 266,983,057 280,072,776 12 Insurance premium 1,343,896 1,284,099 13 Security Expenses 646,925 669,865 14 Legal and Consultancy Fees 220,900 375,292 15 Books & Periodicals 138,279 138,535 16 Advertisement and Publicity 12,718,754 7,573,367 17 Business promotion - - 18 Entertainment Expenses 275,000 312,500 19 Donation and Awards 247,452 519,620 20 Board Committee Expenses A. Meeting Allowance 174,000 165,000 B. Others 2,257,741 2,041,729 21 Other Committee/ Sub Committee Expenses - A. Meeting Allowance 52,500 50,000 B. Others 71,250 303,737 22 Expenses relating general meeting 402,302 483,818 23 A. Acturial Service Fee 1,850,541 638,118 B. Acturial Expenses - - 24 Audit Expenses - A. Audit Fee 248,600 226,000 B. Tax Audit Fee 124,300 113,000 C. Long Form Audit Fee 124,300 113,000 D. Other Fee - - E. Internal Audit Fee 621,500 565,000 F. Others Expenses 361,505 362,545 25 Interest 20,041,096 - 26 Bank charges 473,764 117,173 27 Fee and charges 4,254,116 4,254,118 28 Depreciation 9,635,143 7,642,640 29 Stamps 2,917,912 2,573,454


qm=;+= ljj/0f o; aif{ ut aif{ 30 cGo - sd{rf/L tfhuL vr{ 1,938,298 1,567,206 sfof{no ;/–;kmfO{ vr{ 1,313,916 1,479,490 ;ef–;Dd]ng vr{ - k|zf;g_ 3,092,963 4,274,508 cGo ljljw vr{ 2,544,103 1,715,227 Aof6«L vr{ 562,779 1,278,759 ;'rgf tyf k|sf;g vr{ 302,640 488,831 sfof{no :yfGt/0f vr{ 271,414 201,552 ;]af / b:t'/ - ;af/L ;fwg_ 454,095 492,385 Ohfhtkq gjLs/0f z'Ns -aLdf ;ldlt_ 50,000 50,000 g]6jls{ª vr{ 7,117,078 7,129,245 gu/kflnsf s/ 79,541 49,102 hUuf s/ - -

sd{rf/L vr{ cg';"rL &=!

qm=;+= ljj/0f o; aif{ ut aif{!= tna 39,482,531 39,163,078 @= eQf 24,468,775 27,191,563 #= bz}+ vr{ 4,628,643 4,192,124 $= ;~rosf]ifdf yk 3,800,186 4,074,599 %= tflnd vr{ 477,759 - ^= kf]zfs - - &= cf}ifwf]krf/ 1,752,763 1,797,176 *= aLdf 585,954 422,869 (= k]G;g tyf pkbfg vr{ tyf Joj:yf 7,381,498 3,155,206 !)= ljbf afktsf] vr{ tyf Joj:yf 3,785,466 5,177,160 !!= cGo ;'ljwf afkt vr{ tyf Joj:yf - - !@ cGo s= z}lIfs vr{ 192,337 330,835 v= ahf/ clwsf/Lx?nfO{ k|f]T;fxg /sd 2,700,220 2,619,246 u= gofF sd{rf/L egf{ vr{ - - 3= sd{rf/L ;'ljwf -ljljw_ - - ª= sd{rf/L ;?jf vr{ 1,076,271 1,115,529 r= Hofnf 7,647,952 5,650,178

5= eQf (Stipend Expenses) 21,081 32,430 hDdf M 98,001,436 94,921,993

afF8 kmfF8sf] nflu hDdf 493,328,058 465,883,495 gfkmf gf]S;fg lx;fadf ;f/]sf] 49,332,806 46,588,349 ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 188,005,442 163,795,802 clu|d e'QmfgL ;fjlws hLjg aLdfsf]cfo Aoo lx;fadf ;f/]sf] 35,529,228 39,647,609 ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 173,174,291 169,643,099 cfhLjg hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 30,413,775 27,339,248 DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 449,334 758,662 ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 128,593 165,891 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] -Psn aLdfz'Ns_ 7,137,755 6,230,147 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] -a}b]lzs /f]huf/ Psn aLdfz'Ns_ 8,790,490 11,714,688 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] -n3' Psn aLdfz'Ns _ 366,344 hDdf 493,328,058 465,883,495





ldlt M @)&%÷)&÷!&


Employee Expenses Schedule -7.1

S.N. Particulars Current year Previous year1 Salaries 39,482,531 39,163,078 2 Allowances 24,468,775 27,191,563 3 Dasain Expenses 4,628,643 4,192,124 4 Company Contribution Providend Fund 3,800,186 4,074,599 5 Training expenses 477,759 - 6 Dress Allowance - - 7 Medical Expenses 1,752,763 1,797,176 8 Insurance 585,954 422,869 9 Provision on pension and gratuity 7,381,498 3,155,206 10 Expenses & Provision For Leave Encashment 3,785,466 5,177,160 11 Provision for Other Facilities - - 12 Other A. Education Expenses 192,337 330,835 B. Incentive to Marketing Officials 2,700,220 2,619,246 C. Recruiting Expenses - - D. Employee Benefit Misc. - - E. Relocation Expenses 1,076,271 1,115,529 F. Wages 7,647,952 5,650,178 g. Stipend Expenses 21,081 32,430 Total 98,001,436 94,921,993

S.N. Particulars Current year Previous year30 Other - Staff Refereshment Expenses 1,938,298 1,567,206 Office Upkeep and Cleaning Expenses 1,313,916 1,479,490 Conferrence Expenses (Admin) 3,092,963 4,274,508 Other Miscellaneous Expenses 2,544,103 1,715,227 Battery Expenses For Inverter 562,779 1,278,759 Information Publication Expenses 302,640 488,831 Office Shifting Expenses 271,414 201,552 Rates & Taxes (Vehicles) 454,095 492,385 Licience Renewal Fee (Beema Samiti) 50,000 50,000 Networking Expenses 7,117,078 7,129,245 Mucipality Tax 79,541 49,102 Land Tax - - Total 493,328,058 465,883,495

Total for Distribution Transferred to profit and loss account 49,332,806 46,588,349 Transferred to Reveue Account of Endowment 188,005,442 163,795,802 Transferred to Revenue Account of Anticipated Endowment 35,529,228 39,647,609 Transferred to Revenue Account of Modified Endowment 173,174,291 169,643,099 Transferred to Revenue Account of Whole Life Policy 30,413,775 27,339,248 Transferred to Revenue Account of Term Insurance Policy 449,334 758,662 Transferred to Revenue Account of Special Term Insurance Policy 128,593 165,891 Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium) 7,137,755 6,230,147 Transferred to Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) 8,790,490 11,714,688 Transferred to Revenue Account of Other Life Insurance Policy (Micro Term Insurance.) 366,344 Total 493,328,058 465,883,495







cfos/ cg';"rL– *

qm=;+= ljj/0f o; aif{ ut aif{!= o; aif{sf] cfos/ 291,473,930 122,934,950 afF8kmfF8sf] nflu cfos/sf] hDdf 291,473,930 122,934,950

afF8kmfF8 gfkmf gf]S;fg lx;fadf ;f/]sf] 11,028,753 3,253,913 ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 114,288,290 50,260,424 clu|d e'QmfgL ;fjlws hLjg aLdfsf]cfo Aoo lx;fadf ;f/]sf] 41,140,218 20,349,640 ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 109,872,958 45,127,861 cfhLjg hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 10,547,423 3,407,108 DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 575,182 240,188 ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] 218,868 99,945 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-Psn aLdfz'Ns_ 1,576,583 195,871 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-a}b]lzs /f]huf/ Psn aLdfz'Ns _ 2,210,013 - cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-n3' Psn aLdfz'Ns _ 15,641 hDdf 291,473,930 122,934,950





ldlt M @)&%÷)&÷!&


Income Tax Schedule - 8

S.N. Particulars Current year Previous year1 Income Tax of current year 291,473,930 122,934,950 Total Income Tax For Appropriation 291,473,930 122,934,950

Appropriation Transferred to profit and loss account 11,028,753 3,253,913 Transferred to Reveue Account of Endowment 114,288,290 50,260,424 Transferred to Revenue Account of Anticipated Endowment 41,140,218 20,349,640 Transferred to Revenue Account of Modified Endowment 109,872,958 45,127,861 Transferred to Revenue Account of Whole Life Policy 10,547,423 3,407,108 Transferred to Revenue Account of Term Insurance Policy 575,182 240,188 Transferred to Revenue Account of Special Term Insurance Policy 218,868 99,945 Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium) 1,576,583 195,871 Transferred to Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) 2,210,013 - Transferred to Revenue Account of Other Life Insurance Policy (Micro Term Insurance.) 15,641 Total 291,473,930 122,934,950







cfly{s jif{sf] cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:yf cg';"rL – (

qm=;+= aLdfsf] lsl;d e'QmfgL x'g afFsL e'QmfgL x'g afFsL e'QmfgL x'g afFsL cf+lzs e'QmfgL x'g afFsL e'QmfgL x'g afFsL d[To' bfjL cjlw ;dfKtL bfjL cjlw ;dfKtL bfjL ;dk{0f d"No bfjL cGo bfjL o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{1 ;fjlws - - - - - - - - 9,788,815 5,386,274 2 clu|d e'QmfgL ;fjlws - - 5,678,896 6,131,552 3 ?kfGtl/t ;fjlws - - 3,068,196 3,091,137 4 cfhLjg - - - - 5 DofbL - - - - 6 ljz]if DofbL - - - - 7 cGo hLjg aLdf -Psn aLdfz'Ns_ - - 8 cGo hLjg aLdf -a}b]lzs /f]huf/ Psn aLdfz'Ns_ - - 9 cGo hLjg aLdf -n3' Psn aLdfz'Ns_ - hDdf - - - - - - - - 18,535,907 14,608,963

;[hgf ePsf] t/ hfgsf/Ldf e'QmfgL x'g afFsL e'QmfgL x'g afFsL hDdf e'QmfgL x'g afFsL gcfPsf] bfjL -cg'dflgt_ hDdf bfjL bfjLdf k'gaL{dssf] lx:;f bfjL afkt Joj:yf o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{ - - 9,788,815 5,386,274 - - 11,257,137 6,194,215 - - 5,678,896 6,131,552 - - 6,530,730 7,051,285 - - 3,068,196 3,091,137 - - 3,528,425 3,554,808 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18,535,907 14,608,963 - - 21,316,292 16,800,307

cfo Joo lx;fax?af6 gfkmf gf]S;fg lx;fadf ;f/]sf] /sd cg';"rL–!)

qm=;+= ljj/0f o; aif{ ut aif{! ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] - - @ clu|d e'QmfgL ;fjlws hLjg aLdfsf]cfo Aoo lx;fadf ;f/]sf] - - # ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] - - $ cfhLjg hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] - - % DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] - - ^ ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] - - & cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-Psn aLdfz'Ns_ - - * cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-a}b]lzs /f]huf/ Psn aLdfz'Ns _ –228,202,518_ 23,776,783 cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]-n3' Psn aLdfz'Ns _ –704,815_ - hDdf –228,907,333_ 23,776,783





ldlt M @)&%÷)&÷!&


Provision For Outstanding Claim at the end of the Fiscal Year Schedule - 9

SN Types of Insurance Outstanding Death claim Outstanding Maturity claim Outstanding Partial Outstanding Surrender Maturity claim value claim current year previous year current year previous year current year previous year current year previous year1 Endowment - - - - - - - -

2 Anticipated Endowment - -

3 Modified Endowment - -

4 Whole Life Policy - -

5 Term Insurance Policy - -

6 Special Term Policy - -

7 Other Life Insurance (Endowment Single Premium)

8 Other Life Insurance (Single Premium O.E.)

9 Other Life Insurance (Micro Term Insurance)

Total - - - - - - - -

Other Outstanding calim Claim IBNR (Estimated) Total Outstanding claim Share of re-insurer on total Provision for claim of payment outstanding claim current year previous year current year previous year current year previous year current year previous year current year previous year 9,788,815 5,386,274 - - 9,788,815 5,386,274 - - 11,257,137 6,194,215

5,678,896 6,131,552 - - 5,678,896 6,131,552 - - 6,530,730 7,051,284

3,068,196 3,091,137 - - 3,068,196 3,091,137 - - 3,528,425 3,554,808

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

18,535,907 14,608,963 - - 18,535,907 14,608,963 - - 21,316,292 16,800,307

Amount Transferred From Revenue Accounts To P&L A/c Schedule - 10

S.N. Particulars current year previous year1 Transferred from Reveue Account of Endowment - - 2 Transferred from Revenue Account of Anticipated Endowment - - 3 Transferred from Revenue Account of Modified Endowment - - 4 Transferred from Revenue Account of Whole Life Policy - - 5 Transferred from Revenue Account of Term Insurance Policy - - 6 Transferred from Revenue Account of Special Term Insurance Policy - - 7 Transferred from Revenue Account of Other Life Insurance Policy (End. Sing. Premium) - - 8 Transferred from Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) (228,202,518) 23,776,783 9 Transferred from Revenue Account of Other Life Insurance Policy (Micro Term Insurance) (704,815) - Total (228,907,333) 23,776,783






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16 th ANNUAL REPORT 67LI

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11

S.N

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2 1

0,55

0,62

0,46

7

4 W

hole

Life

Pol

icy

1,0

19,6

70,2

31

638

,313

,612

5

31,7

12,1

42

413

,048

,199

-

-

-

-

1,

551,

382,

373

1,

051,

361,

812

5 Te

rm In

sura

nce

Pol

icy

46,

651,

422

3

4,85

7,43

8

8,3

29,0

52

11,

793,

984

2

0,89

8,63

8

-

-

-

7

5,87

9,11

2

46,

651,

422

6 S

peci

al T

erm

Pol

icy

17,

105,

863

1

3,86

5,84

3

3,2

67,6

41

3,2

40,0

20

-

-

-

-

20,

373,

504

1

7,10

5,86

3

7 Ot

her L

ife In

suran

ce (E

ndow

ment

Single

Prem

ium)

135

,636

,507

5

2,47

0,78

0

114

,922

,687

8

3,16

5,72

8

17,

564,

866

-

-

-

268

,124

,060

1

35,6

36,5

07

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

.) -

-

-

-

-

-

-

-

-

-

9 Ot

her L

ife In

sura

nce

(Mic

ro T

erm

Insu

ranc

e)

-

-

-

-

-

-

-

-

-

-

To

tal

26,

484,

403,

810

2

0,24

8,35

0,63

1

7,4

11,5

71,4

92

6,5

38,4

26,2

96

38,

463,

504

-

-

-

3

3,93

4,43

8,80

6

26,

786,

776,

927

S.N

. Ty

pes

of in

sura

nce

Una

lloc

ated

Am

ount

Li

fe in

sura

nce

fund

at t

he e

nd o

f the

yea

r

cu

rren

t yea

r pr

evio

us y

ear

curr

ent y

ear

prev

ious

yea

r1

Endo

wm

ent

1,5

15,2

57,8

13

880

,565

,416

1

3,79

5,87

7,03

3

10,

940,

840,

732

2 A

ntic

ipat

ed E

ndow

men

t 3

70,5

06,0

90

363

,626

,269

4

,383

,155

,337

3

,898

,749

,720

3 M

odifi

ed E

ndow

men

t 5

72,2

60,5

71

132

,794

,762

1

3,50

6,24

9,63

4

10,

425,

749,

336

4 W

hole

Life

Pol

icy

448

,306

,308

2

56,9

21,2

36

1,5

09,9

50,1

96

1,0

19,6

70,2

31

5 Te

rm I

nsur

ance

Pol

icy

1,0

76

(74

,996

,295

) 7

5,87

9,11

2

46,

651,

422

6 S

peci

al T

erm

Pol

icy

6,3

87,3

46

4,7

05,9

58

20,

373,

504

1

7,10

5,86

3

7 O

ther

Life

Ins

uran

ce (

Endo

wm

ent

Sin

gle

Pre

miu

m)

2,2

14

(7,

317,

123)

2

68,1

24,0

61

135

,636

,507

To

tal

2,9

12,7

21,4

18

1,5

56,3

00,2

23

33,

559,

608,

877

2

6,48

4,40

3,81

0

Adj

ustm

ent

in li

fe in

sura

nce

fund

S.N

. Ty

pes

of in

sura

nce

Life

Insu

ranc

e Fu

nd B

efor

e Tr

ansf

erre

d To

Pro

fit

Liab

ilit

ies

Und

er P

olic

y P

rovi

sion

for

Bon

us

Pro

visi

on F

or S

olve

ncy

Mar

gin

Adj

ustm

ent(

End

Of t

he Y

ear)

&

Los

s A

ccou

nt

cu

rren

t yea

r pr

evio

us y

ear

curr

ent y

ear

prev

ious

yea

r cu

rren

t yea

r pr

evio

us y

ear

curr

ent y

ear

prev

ious

yea

r cu

rren

t yea

r pr

evio

us y

ear

1 En

dow

men

t 1

3,95

2,01

8,98

6

11,

062,

830,

953

1

56,1

41,9

54

121

,990

,222

1

0,87

5,34

1,63

4

8,9

62,3

63,3

24

1,4

05,2

77,5

87

1,0

97,9

11,9

92

.

-

2 An

ticip

ated

End

owm

ent

4,4

10,8

95,4

89

3,9

22,5

69,9

04

27,

740,

152

2

3,82

0,18

2

3,7

62,9

87,8

76

3,3

20,7

41,8

11

249

,661

,372

2

14,3

81,6

39

3 M

odifi

ed E

ndow

men

t 1

3,65

5,76

5,28

2

10,

550,

620,

467

1

49,5

15,6

49

124

,871

,129

1

1,58

8,34

8,22

7

9,1

69,1

14,4

11

1,3

45,6

40,8

37

1,1

23,8

40,1

63

4 W

hole

Life

Pol

icy

1,5

51,3

82,3

73

1,0

51,3

61,8

12

41,

432,

178

3

1,69

1,58

2

688

,754

,283

4

77,5

24,7

54

372

,889

,605

2

85,2

24,2

41

5 Te

rm In

sura

nce

Polic

y 7

5,87

9,11

2

46,

651,

422

-

-

7

5,87

8,03

6

121

,647

,717

-

-

6 Sp

ecia

l Ter

m P

olic

y 2

0,37

3,50

4

17,

105,

863

-

-

1

3,98

6,15

8

12,

399,

905

-

-

7 O

ther

Life

Insu

ranc

e

(E

ndow

men

t Sin

gle

Prem

ium

) 2

68,1

24,0

60

135

,636

,507

-

-

2

68,1

21,8

47

142

,953

,630

-

-

To

tal

33,

934,

438,

806

2

6,78

6,77

6,92

7

374

,829

,933

3

02,3

73,1

15

27,

273,

418,

061

2

2,20

6,74

5,55

2

3,3

73,4

69,4

01

2,7

21,3

58,0

35

-

-

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018


Joj:yf lkmtf{ cg';"rL–!@

qm=;+= ljj/0f o; aif{ ut aif{!= nufgLdf gf]S;fgLsf] nflu Joj:yf lkmtf{ - 4,063,846 @= shf{df gf]S;fgLsf] nflu Joj:yf lkmtf{ - - #= z+sf:kb cf;fdL Joj:yf lkmtf{ - - $ cGo Joj:yf lkmtf{ - - hDdf - 4,063,846

ckn]vg vr{x? cg';"rL–!#

qm=;+= ljj/0f o; aif{ ut aif{1 k|f/lDes vr{x? - - 2 k"j{ ;+rfng vr{x? - - 3 k/ ;fl/Psf vr{x? - - 4 ckn]vg ul/Psf] nufgL - - 5 ckn]vg ul/Psf] shf{ 95,908 88,072 6 ckn]vg ul/Psf] cf;fdL - - 7 cGo ckn]vg - - hDdf 95,908 88,072

z]o/ ;DaGwL vr{ cg';"rL !#s

qm=;+= ljj/0f o; jif{ ut jif{1 z]o/ lgZsf;g vr{ - - 2 z]o/ /lhi6«];g vr{ - 66,000 3 z]o/ ;"lrs/0f vr{ 347,514 1,107,646 4 nfef+z ljt/0f vr{ - - 5 z]o/ ;DaGwL cGo vr{ - - hDdf 347,514 1,173,646

cGo vr{x? cg';"rL–!$

qm=;+= ljj/0f o; aif{ ut aif{1 b08 hl/jfgf - - 2 ljnDa z'Ns hl/jfgf - 171,330 3 cGo - - hDdf - 171,330





ldlt M @)&%÷)&÷!&


Provision Witten Back Schedule -12

S.N. Particulars Current year Previous year1 Provision For Loss On Investment Written Back - 4,063,846 2 Provision For Loss on Loan WrittenBack - - 3 Provision For Doubtful Debt Written Back - - 4 Other Provision Written Back - - TOTAL - 4,063,846

Written Off Expenditure Schedule - 13

S.N. Particulars Current year Previous year1 Preliminary expenses - - 2 Pre-operation expenses - - 3 Deferred expenses - - 4 Investment Written Off - 5 Loan Written Off 95,908 88,072 6 Debtors Written Off - - 7 Other Written Off - - Total 95,908 88,072

Expenses Related to Shares Schedule - 13 A

S.N. Particulars Current year Previous year1 Share Issuing Expenses - - 2 Share Registration Expenses - 66,000 3 Share Listing Expenses 347,514 1,107,646 4 Dividend Distribution Expenses - - 5 Other Expenses (Share Related) - - Total 347,514 1,173,646

Other expenditures Schedule - 14

S.N. Particulars Current year Previous year1 Fine & Penalties - - 2 Late Fee & Fine - 171,330 3 Other - - Total - 171,330







gf]S;fgLsf] nflu Joj:yf cg';"rL–!%

qm=;+= ljj/0f o; aif{ ut aif{!= nufgLdf gf]S;fgLsf] nflu Joj:yf 13,509,903 - @= shf{df gf]S;fgLsf] nflu Joj:yf - - #= z+sf:kb cf;fdL Joj:yf - - $ cGo Joj:yf - - hDdf 13,509,903 -

-s_ z]o/ k"FhL cg';"rL–!^

qm=;+= ljj/0f o; aif{ ut aif{!= clws[t k"FhL s_ ? !)) b/sf] !##$^&&% yfg ;fwf/0f z]o/ 1,334,677,500 1,069,453,125 v_ ?============b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ - - u_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ - - @= hf/L k"FhL 1,334,677,500 1,069,453,125 s_ ? !)) b/sf] !##$^&&% yfg ;fwf/0f z]o/ - - v_ ?============b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ - - u_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ #= r'Qmf k"FhL s_ ? !)) b/sf] !##$^&&% yfg ;fwf/0f z]o/ 1,334,677,500 1,069,453,125 Go"g e'QmfgL k|fKt x'g afFsL ?==== b/sf] ===yfg ;fwf/0f z]o/ - - v_ ?============ b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ - - u_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ - - hDdf 1,334,677,500 1,069,453,125

-v_ z]o/ :jfldTjsf] ;+/rgf

z]o/wgL o; aif{ ut aif{ ;+:yfks ;fwf/0f z]o/ ;+Vof :jfldTjsf] Ü ;fwf/0f z]o/ ;+Vof :jfldTjsf] Ü g]kfnL ;+ul7t ;+:yfx? 333,669,375 @% k|ltzt 267,363,281 @% k|ltzt g]kfnL gful/s - – - – ljb]zL 734,072,625 %% k|ltzt 588,199,219 %% k|ltzt hDdf 1,067,742,000 *) k|ltzt 855,562,500 *) k|ltzt

;j{;fwf/0f 266,935,500 @) k|ltzt 213,890,625 @) k|ltzt cGo s"n 1,334,677,500 !)) k|ltzt 1,069,453,125 !)) k|ltzt

-u_ Ps k|ltzt jf a9L z]o/ :jfldTj ePsf z]o/wgLx?sf] ljj/0f

qm=;+= ljj/0f o; aif{ ut aif{ :jfldTjsf] Ü /sd :jfldTjsf] Ü /sd!= ef/tLo hLjg aLdf lgud %% k|ltzt 734,072,625 %% k|ltzt 588,199,219 @= ljzfn u|'k @% k|ltzt 333,669,375 @% k|ltzt 267,363,281





ldlt M @)&%÷)&÷!&


Provision For Losses Schedule -15

S.N. Particulars Current year Previous year1 Provision For loss on Investment 13,509,903 -

2 Provision For loss on loan - -

3 Provision For Doubtful Debt - -

4 Other Provision - -

TOTAL 13,509,903 -

A. Share Capital Schedule - 16

S.N. Particulars Current year Previous year1 Authorised capital

A. 13346775 Equity Shares worth Rs. 100/- Each 1,334,677,500 1,069,453,125

B…………. Non Reedeemable Preferred worth Rs. …. Each - -

C…………. Reedeemable Preferred worth Rs. …. Each - -

2 Issued Capital




3 Paid up capital


Less: Receivable Paid up ….. Shares worth ….



Total 1,334,677,500 1,069,453,125

C) Details Having One or more than one percentage of Shares

S.N. Particular Current year Previous year % of ownership Amount % of ownership Amount1 Life Insurance Corporation Of India 55% 734,072,625 55% 588,199,219

2 Vishal Group ( Nepal) 25% 333,669,375 25% 267,363,281

B) Ownership Structure of Share

Share Holder Current year Previous year No.of equity share % of ownership No.of equity % of ownershipPromotor

Nepali Organised institution 333,669,375 25% 267,363,281 25%

Nepalese citizen - - -

Foreigner 734,072,625 55% 588,199,219 55%

Total 1,067,742,000 80% 855,562,500 80%

General public 266,935,500 20% 213,890,625 20%

Other

Total 1,334,677,500 100% 1,069,453,125 100%







hu]8f tyf sf]if cg';"rL–!&

qm=;+= ljj/0f o; aif{ ut aif{1 :yug s/ hu]8f 6,025,981 1,039,589 2 k"FhLut hu]8f - - 3 ljz]if hu]8f - - 4 cGo hu]8f - - 5 z]o/ lk|ldod 61,151,801 61,151,801 6 k|:tfljt af]gz z]o/ 160,161,300 265,224,375 7 k"hLs[t x'g afFsL af]g; z]o/ - - 8 Gffkmf gf]S;fg lx;faaf6 ;f/]sf] gfkmf 29,461,759 81,562,486 hDdf 256,800,841 408,978,251

dxf–ljklQ hu]8f cg';"rL–!*

jif{sf] z'?df dxf–ljklQ hu]8f gfkmf gf]S;fg lx;faaf6 ;f/]sf] jif{sf] cGTodf dxf–ljklQ hu]8f o; jif{ ut jif{ o; jif{ ut jif{ o; jif{ ut jif{ 88,230,920 56,087,418 13,497,390 32,143,502 101,728,310 88,230,920 - - - - - - - - - - - - 88,230,920 56,087,418 13,497,390 32,143,502 101,728,310 88,230,920

ltg{ afFsL bL3{sflng C0f tyf ;fk6L cg';"rL–!(

qm=;+= ljj/0f o; aif{ ut aif{! l8j]Gr/ ÷ a08 – – @ a}+s – – # ljQLo ;+:yf – – $ cGo -ljj/0f v'nfpg]_ – – hDdf – –





ldlt M @)&%÷)&÷!&


Reserve and Surplus Schedule -17

S.N. Particulars current year previous year1 Deferred Tax Reserve 6,025,981 1,039,589

2 Capital reserve - -

3 Special reserve - -

4 Other reserve ( Details) - -

5 Share premium 61,151,801 61,151,801

6 Proposed Bonus Share 160,161,300 265,224,375

7 Uncapitalized Bonus Share - -

8 Profit transferred from profit and loss a/c 29,461,759 81,562,486

Total 256,800,841 408,978,251

Catastrophe Reserve Schedule -18

Catastrophe Reserve at the Beginning Of the Year Transferred From P& L A/c Catastrophe Reserve at the End Of the Year Current Year Previous Year Current Year Previous Year Current Year Previous Year 88,230,920 56,087,418 13,497,390 32,143,502 101,728,310 88,230,920

88,230,920 56,087,418 13,497,390 32,143,502 101,728,310 88,230,920

Long Term Loan and Borrowing Schedule -19

SN. Particulars Current Year Last Year 1 Debenture / Bond - -

2 Bank - -

3 Financial Institution - -

4 Others ( Detail to be discloed) - -

Total - -






!^74 jflif{s k|ltj]bgcf}+l:

y/

;Dkl

Q

c

g';"r

L–@)

ljj/

0f

k/n d

f]n

Xf

; s

§L

v"b

df]n

z

'? df

}Hbft

o;

jif{

yk]s

f] o;

jif{

36]s

f] h

Ddf

ut j

if{;Dd

o;

jif{

laqm

L÷

hDd

f o;

jif{;

Dds

f] Uft

jif{;

Dds

f]

;dfo

f]hg

hld

g 183

,692

,395

-

- 18

3,69

2,39

5

-

-

-

-

18

3,69

2,39

5 1

83,692

,395

ej

g 1,136

,600

-

-

1

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,600

2

07,918

4

6,434

-

254

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8

82,248

9

28,682

km

lg{r

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f lkm

S;\r

;{ 13,77

3,11

6 1

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0

-

15

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8

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1

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-

9

,789

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5

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5

,417

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s

fof{n

o ;f

dfg

5,254

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5

87,034

-

5

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1

2,5

72,4

03

721

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-

3,293

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2

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5

2,681

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sDKo

"6/ t

yf ;

"rgf k

|ljwL

pks

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19,28

3,98

9

2,4

60,057

4

9,00

0

21,695

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9

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2

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3

7,469

11,77

0,89

6

9,924

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1

0,18

3,63

9 c

b[Zo

;Dkl

Q

7

10,874

5

6,50

0

-

7

67,374

5

37,964

4

3,80

8

-

5

81,772

1

85,602

1

72,910

;j

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fwg

29,89

3,54

7

16,871

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8

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3

8,11

4,5

47

19,12

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8

3,896

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7

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15,

780,66

1 2

2,33

3,88

6

10,771

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ln

h x

f]N8

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Q 6

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1

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-

7,95

9,01

4

5,031

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5

20,336

-

5,5

52,000

2

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1

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c

Go

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[lt v

'nfp

g]_

3,5

41,53

0

36,14

4

10,33

2

3,5

67,342

2

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2

63,845

8

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2

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0

826

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1

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h

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264

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2

2,55

8,05

7

8,7

09,3

32

277

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4

7,41

2,85

5

9,6

35,1

43

7,2

83,6

05

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393

2

28,2

29,2

12

216

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lg

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k"FhLu

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3,5

81,276

-

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3

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3,5

81,276

3

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s

"n

267

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2

2,55

8,05

7

8,7

09,3

32

281,

574,

881

4

7,41

2,85

5

9,6

35,1

43

7,2

83,6

05

49,

764,

393

23

1,81

0,48

8

220

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ut

jif{

263

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9

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5

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2

67,7

26,1

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44,

550,

073

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4

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220

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19,0

11,5

27

ljlk

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lws

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b]{zs

lg

b]{zs

le=s

]� s's

\/�]�hf

cz

f]�s c

u|jf

n

aL= j

]�0f'u

f]�]�kfn

jL

=s]�= z

df{

lgb]{z

s

lgb]{z

s

lgb]{z

s

cWo

If

l;P=

la=s

]� cu

|jfn

Dofg

]lhË

kf6{g

/lg

= la=

s] c

u|jfn

P08

sDk

gLrf

6{8 P

sfp

06]G6

;\

;+nUg

k|lt

j]bgs

f] cfw

f/df

ldlt

M @)

&%÷

)&÷

!&

16 th ANNUAL REPORT 75Fi

xed

asse

ts

Sche

dule

- 20

Parti

cula

rs

Cos

t pric

e De

prec

iatio

n Ne

t Pric

e

Open

ing

Curr

ent Y

ear

Curr

ent Y

ear

Tota

l Up

to

Curr

ent Y

ear

Sale

/ To

tal

Upto

Up

to

Bala

nce

Addi

tion

Dedu

ctio

n

Prev

ious

Yea

r

Adju

stm

ent

Cu

rren

t Yea

r Pr

evio

us Y

ear

Land

1

83,6

92,3

95

-

-

183

,692

,395

-

-

-

-

1

83,6

92,3

95

183

,692

,395

Build

ing

1,1

36,6

00

-

-

1,1

36,6

00

207

,918

4

6,43

4

-

254

,352

8

82,2

48

928

,682

Furn

iture

and

Fix

ture

1

3,77

3,11

6

1,4

46,7

90

-

15,

219,

906

8

,355

,224

1

,434

,682

-

9

,789

,906

5

,430

,000

5

,417

,892

Offi

ce E

quip

men

t 5

,254

,347

5

87,0

34

-

5,8

41,3

81

2,5

72,4

03

721

,163

-

3

,293

,566

2

,547

,815

2

,681

,944

Com

pute

r and

ED

P 1

9,28

3,98

9

2,4

60,0

57

49,

000

2

1,69

5,04

6

9,1

00,3

50

2,7

08,0

15

37,

469

1

1,77

0,89

6

9,9

24,1

50

10,

183,

639

Inta

ngib

le A

sset

s 7

10,8

74

56,

500

-

7

67,3

74

537

,964

4

3,80

8

-

581

,772

1

85,6

02

172

,910

Vehi

cle

29,

893,

547

1

6,87

1,00

0

8,6

50,0

00

38,

114,

547

1

9,12

1,70

8

3,8

96,8

60

7,2

37,9

07

15,

780,

661

2

2,33

3,88

6

10,

771,

839

Leas

e H

old

Asse

ts

6,8

58,4

82

1,1

00,5

32

-

7,9

59,0

14

5,0

31,6

64

520

,336

-

5

,552

,000

2

,407

,014

1

,826

,818

Oth

er(N

atur

e m

entio

ned)

3

,541

,530

3

6,14

4

10,

332

3

,567

,342

2

,485

,624

2

63,8

45

8,2

29

2,7

41,2

40

826

,102

1

,055

,906

Tota

l 2

64,1

44,8

80

22,

558,

057

8

,709

,332

2

77,9

93,6

05

47,

412,

855

9

,635

,143

7

,283

,605

4

9,76

4,39

3

228

,229

,212

2

16,7

32,0

25

Capi

tal E

xpen

ditu

re -

WIP

3

,581

,276

-

-

3

,581

,276

-

-

-

-

3

,581

,276

3

,581

,276

Tota

l 2

67,7

26,1

56

22,

558,

057

8

,709

,332

2

81,5

74,8

81

47,

412,

855

9

,635

,143

7

,283

,605

4

9,76

4,39

3

231

,810

,488

2

20,3

13,3

01

Prev

ious

Yea

r 2

63,5

61,6

01

9,5

55,0

57

5,3

90,5

02

267

,726

,156

4

4,55

0,07

3

7,6

42,6

41

4,7

79,8

59

47,

412,

855

2

20,3

13,3

01

219

,011

,527

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018

!^76 jflif{s k|ltj]bgcf}+n

ufg

L

cg';

"rL–

@!

qm=;

+= lj

j/0f

o;

aif{

ut

aif{

-s_

bL3{s

flng

nuf

gL M

!

;/s

f/L /

;/s

f/s

f] h

dfgt

k|fKt

;]So

"l/6L

6

15,4

25,000

6

15,4

25,000

@

jfl0

fHo

a}+s

sf] d'2

tL lgI

f]k

16,540,00

0,00

0

1,830,00

0,00

0 #

ljs

f; a

}+ss

f] d'2

tL lgI

f]k

630,00

0,00

0

480

,000

,000

$

gf

ul/s

nuf

gL o

f]hgf

108

,363

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5

9,370,22

0 %

ljQLo

;+:y

fsf] d'2

tL lgI

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-

180

,000

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^

cfj

f; ljQ

sDk

gLs

f] ;fw

f/0f

z]o/

-c

g';"r

L @!

=! a

df]lh

d_

-

-

&

cGo

sDk

gLs

f] ;fw

f/0f

z]o/

-c

g';"r

L @!

=! a

df]lh

d_

1,4

65,5

44,5

91

1,286

,633,279

* a}+s

tyf lj

QLo

;+:y

fsf] c

u|flw

sf/ z

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l8j]Gr

/ 1,038,358,16

9

1,037,894

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(

cGo

-

-

h

Ddf M s

2

0,39

7,69

1,02

6

5,4

89,

322,

499

-v

_ cNk

sfln

g nuf

gL M

!

;/s

f/L /

;/s

f/s

f] h

dfgt

k|fKt

;]So

"l/6L

-

-

@ jf

l0fH

o a}+s

sf] d'2

tL lgI

f]k

9,063

,500

,000

16,26

5,000

,000

#

ljs

f; a

}+ss

f] d'2

tL lgI

f]k

700

,000

,000

9

60,000

,000

$

gf

ul/s

nuf

gL o

f]hgf

-

-

%

ljQLo

;+:y

fsf] d'2

tL lgI

f]k

-

4

10,000

,000

^

a}+s

tyf lj

QLo

;+:y

fsf] c

u|flw

sf/ z

]o/÷

l8j]Gr

/

-

&

jfl0

fHo

a}+s

sf] Ao

fh k

|fKt x

'g] c

Go lgI

f]k

299

,317

,418

5

35,028

,098

*

ljs

f; a

}+ss

f] Ao

fh k

|fKt x

'g]] c

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f]k

633,246

-

( lj

QLo

;+:y

fsf] Ao

fh k

|fKt x

'g] c

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f]k

-

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!)

cGo

Aof

h k

|fKt x

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ufgL

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h

Ddf M v

1

0,06

3,450

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1

8,1

70,0

28,0

98

h

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3

0,461

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690

2

3,65

9,35

0,59

7

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g s

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nfn

c

lelh

t 3f

]�if bl

:�tbf

/�

s'd

f/� s

]�z/�

lji6

;xfo

s k

|aGws

-lj

Q=_

sf=d

'= k|d

'v s

fo{s

f/L c

lws

[t÷lg

b]{zs

lg

b]{zs

le=s

]� s's

\/�]�hf

cz

f]�s c

u|jf

n

aL= j

]�0f'u

f]�]�kfn

jL

=s]�= z

df{

lgb]{z

s

lgb]{z

s

lgb]{z

s

cWo

If

l;P=

la=s

]� cu

|jfn

Dofg

]lhË

kf6{g

/lg

= la=

s] c

u|jfn

P08

sDk

gLrf

6{8 P

sfp

06]G6

;\

;+nUg

k|lt

j]bgs

f] cfw

f/df

ldlt

M @)

&%÷

)&÷

!&

16 th ANNUAL REPORT 77In

vest

men

ts

Sche

dule

- 21

S.N.

Pa

rticu

lar

Curr

ent Y

ear

Prev

ious

Yea

r(A

) Lo

ng te

rm in

vest

men

t:

1 G

over

nmen

t Sec

uriti

es &

Sec

uriti

es G

uran

teed

by

Gov

ernm

ent

615

,425

,000

6

15,4

25,0

00

2 Fi

xed

Dep

osit

at C

omm

erci

al B

ank

16,

540,

000,

000

1

,830

,000

,000

3 Fi

xed

Dep

osit

at D

evel

opm

ent B

ank

630

,000

,000

4

80,0

00,0

00

4 Pl

ans

of c

itize

n in

vest

men

t Tru

st/ M

utua

l Fun

d 1

08,3

63,2

66

59,

370,

220

5 Fi

xed

Dep

osit

at F

inan

cial

Inst

itutu

ion

-

180

,000

,000

6 Eq

uity

Sha

re o

f Hou

sing

Fin

ance

Com

pany

-

-

7 Eq

uity

Sha

re o

f Oth

er C

ompa

ny

1,4

65,5

44,5

91

1,2

86,6

33,2

79

8 Pr

efer

ence

Sha

re/D

eben

ture

of B

ank

and

Fina

ncia

l Ins

titut

ion

1,0

38,3

58,1

69

1,0

37,8

94,0

00

9 O

ther

-

-

To

tal (

A)

20,

397,

691,

026

5

,489

,322

,499

(B)

Shor

t ter

m in

vest

men

t:

1 G

over

nmen

t Sec

uriti

es &

Sec

uriti

es G

uran

teed

by

Gov

ernm

ent

-

-

2 In

tere

st B

earin

g D

epos

it a

t Com

mer

cial

Ban

k 9

,063

,500

,000

1

6,26

5,00

0,00

0

3 In

tere

st B

earin

g D

epos

it at

Dev

elop

men

t Ban

k 7

00,0

00,0

00

960

,000

,000

4 Pl

ans

of c

itize

n in

vest

men

t Tru

st

-

-

5 In

tere

st B

earin

g D

epos

it of

Oth

er F

inan

cial

Inst

itutio

n -

4

10,0

00,0

00

6 Pr

efer

ence

Sha

re/D

eben

ture

of B

ank

and

Fina

ncia

l Ins

titut

ion

-

7 O

ther

Inte

rest

Bea

ring

Dep

osit

at C

omm

erci

al B

ank

299

,317

,418

5

35,0

28,0

98

8 O

ther

Inte

rest

Bea

ring

Dep

osit

at D

evel

opm

ent B

ank

633

,246

-

9 O

ther

Inte

rest

Bea

ring

Dep

osit

at O

ther

Fia

nanc

ial I

nstit

utio

n -

-

10

Oth

er In

tere

st B

earin

g In

vest

men

ts

-

-

To

tal (

B)

10,

063,

450,

664

1

8,17

0,02

8,09

8

Tota

l (A+

B)

30,

461,

141,

690

2

3,65

9,35

0,59

7

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

V. K

. Kuk

reja

As

hok A

graw

al

B. V

enug

opal

V.

K. S

harm

aDi

rect

or

Dire

ctor

Di

rect

or

Chair

man

As p

er o

ur re

port

of e

ven

date

CA. B

. K. A

graw

alM

anag

ing

Partn

erFo

r B. K

. Agr

awal

& Co

.Ch

arte

red

Acc

ount

ants

Date

: Nov

embe

r 3, 2

018


z]�o/�df nufgL cg';"rL–@!=!

qm=;+= sDkgL v'b /sd c+lst d"No k/n d"No ahf/ d"No1 s[lif ljsf; a}+s ln= !*(# yfg ;fwf/0f z]o/ 157,925 189,300 157,925 819,669 2 Pg=;L=;L a}+s ln=!% lsQf -Pk]S; 8]enkd]G6 a}+s ln=#@ lsQf z]o/_ * 2,336 3,200 2,336 4,960 3 a}+s ckm sf7dfG8f} ln sf] @^#@^ yfg ;fwf/0f z]o/ 5,737,504 2,632,600 5,737,504 12,162,612 4 af]]6n;{ g]kfn t/fO ln !@*) yfg ;fwf/0f z]o/ 1,355,520 128,000 1,355,520 7,788,800 5 a'6jn kfj/ sDkgL ln= sf] @@(# yfg ;fwf/0f z]o/ 1,470,100 229,300 1,470,100 1,421,660 6 ;]Gr'/L sd{l;on a}+s ln=@#&&% yfg ;fwf/0f z]o/ 9,145,518 2,753,700 9,145,518 11,176,314 7 lrlnd] xfO8«f] kfj/ sDkgLsf] !&^$yfg ;fwf/0f z]o/ 463,136 176,400 463,136 1,402,380 8 l;l6hg;\ a}+s OG6/g]Zgn ln !*(!#) yfg ;fwf/0f z]o/ 83,861,887 18,913,000 83,861,887 76,030,260 9 gfu/Ls nufgL sf]if ^(*%) yfg ;fwf/0f z]o/ 244,627,583 6,985,000 244,627,583 278,003,000 10 l;len a}+s ln sf] &^^! yfg ;fwf/0f z]o/ 2,920,720 766,600 2,920,720 1,895,932 11 Pe/]i6 a}+s ln= sf] **##( yfg ;fwf/0f z]o/ 111,207,124 8,833,900 111,207,124 120,847,752 12 Pe/]i6 a}+s ln= sf] $#) yfg c3|flwsf/ z]o/ 464,169 43,000 464,169 396,890 13 Unf]]an cfO=Pd=O=a}+s ln sf] !#!!## yfg ;fwf/0f z]o/ 47,425,562 13,113,300 47,425,562 50,486,205 14 Unf]]an cfO=Pd=O=;d'Gt l:sd —! #&(&@^* yfg 37,972,680 37,972,680 37,972,680 37,592,953 15 lxdfnog a}+s ln= sf] %!#(( yfg ;fwf/0f z]o/ 28,569,371 5,139,900 28,569,371 45,745,110 16 cf{Ol; okml; kmf{gfG;\ ln= @(( yfg ;fwf/0f z]o/ 47,501 29,900 47,501 84,916 17 hn ljw't nufgL tyf ljsf; sDkgL ln= @)))) yfg ;fwf/0f z]o/ 2,000,000 2,000,000 2,000,000 3,900,000 18 hgtf a}+s ln sf] %*()( yfg ;fwf/0f z]o/ 8,245,848 5,890,900 8,245,848 17,335,770 19 s'df/L a}+s ln sf] @%!^!)yfg -;+:yfks z]o/ _ 594,885 3,386,100 594,885 11,241,852 20 s'df/L a}+s ln sf] ##*^! yfg ;fwf/0f z]o/ 16,100,000 25,161,000 16,100,000 50,322,000 21 nlId a}+s ln sf] $@@@ yfg ;fwf/0f z]o/ 422,200 422,200 422,200 1,646,580 22 nlId O{lSj6L Do"R'jn km08 sf] @(@$&(@ yfg z]o/ 29,247,920 29,247,920 29,247,920 29,247,920 23 nlId Eofn' km08—! sf] **$#@ yfg z]o/ 1,510,576 884,320 1,510,576 1,083,292 24 df5fk'R5«] a}+s ln= sf] $%* yfg ;fwf/0f z]o/ 103,889 45,800 103,889 163,438 25 d]3f a}+s ln !#@*( yfg ;fwf/0f z]o/ 965,700 1,328,900 965,700 6,086,362 26 glan a}+s ln=sf] #!*&(% yfg - ;+:yfks z]o/_ 175,465,130 31,879,500 175,465,130 365,976,660 27 glan O{lSj6 km08 sf] ^&%()@ yfg z]o/ 6,759,020 6,759,020 6,759,020 6,759,020 28 g]kfn aËnfb]z a}+s ln=sf] !(^))) yfg ;fwf/0f z]o/ 72,912,000 19,600,000 72,912,000 78,988,000 29 g]kfn a}+s ln *@^%^& yfg ;fwf/0f z]o/ 107,364,055 82,656,700 107,364,055 304,176,656 30 g]kfn b'/ ;+rf/ sDkgL ln=^!%^% yfg ;fwf/0f z]o/ 43,370,866 6,156,500 43,370,866 41,248,550 31 g]kfn lkmNd 8]enkd]G6 ln !%$ yfg ;fwf/0f z]o/ 1,540 15,400 1,540 5,290 32 g]kfn Oge]i6d]G6 a}+s ln= sf] *&)#%% yfg - ;+:yfks z]o/_ 241,925,109 87,035,500 241,925,109 588,359,980 33 g]kfn No'j cfon ln #)) yfg ;fwf/0f z]o/ 64,500 30,000 64,500 63,900 34 g]kfn l/ O{G;'/]G; sDkgL ln= %)!^^^=^& yfg z]o/ 50,166,667 50,166,667 50,166,667 50,166,667 35 g]kfn P;= la= cfO= a}+s ln= sf] (!%&! yfg ;fwf/0f z]o/ 33,682,456 9,157,100 33,682,456 84,611,604 36 g]kfn z]o/ dfs]{6 ln= sf] ^%(# lsQf ;fwf/0f z]o/ - 659,300 3,077,900 - 37 Pg Pn hL OG:of]]]]/]G; sDkgL ln %%%! yfg ;fwf/0f z]o/ 216,982 555,100 216,982 8,104,460 38 PgPdla a}+s ln= sf] #%!# yfg af]g; z]o/ - 351,300 - 1,914,585 39 PgPdla xfOla|8 km08 —! sf] !@^!(@! yfg z]o/ 12,619,210 12,619,210 12,619,210 12,543,495 40 PgPdla ;'ne km08 —! sf]] !#)%)) yfg z]o/ 1,305,000 1,305,000 1,305,000 1,645,605 41 c]/]G6n xf]6n ln=!*!@) yfg ;fwf/0f z]o/ 6,484,478 1,812,000 6,484,478 12,140,400 42 k|e' a}+s ln= sf] (%%^$ yfg - ;+:yfks z]o/_ 22,398,920 9,556,400 22,398,920 18,157,160 43 lk|ldo/ O{G;'/]G; sDkgL ln= $*^$ yfg ;fwf/0f z]o/ 9,050,766 486,400 9,050,766 8,122,880 44 k|fOd sd{l;on a}+s ln #^$) yfg ;fwf/0f z]o/ 357,246 364,000 357,246 1,536,080 45 k|fOd sd{l;on a}+s ln @%(#!$ yfg - ;+:yfks z]o/_ 32,056,704 25,931,400 32,056,704 73,904,490 46 ?/n dfO{qmf] kmfO{gfG; 8]enkd]G6 ;]G6/ ln=!!) yfg af]g; z]o/ - 11,000 - 85,140 47 ;flgdf a}+s ln= sf] ###&^ yfg ;fwf/0f z]o/ 3,413,478 3,337,600 3,413,478 14,318,304 48 l;¢fy{ ljsf; a}+s ln sf] %*&%( yfg ;fwf/0f z]o/ 13,844,968 5,875,900 13,844,968 28,674,392 49 l;¢fy{ O{lSj6 cf]/Lg]6]8 l:sd sf] @($**^ yfg z]o/ 2,948,860 2,948,860 2,948,860 3,538,632 50 ;f]lN6 xf]6n ln=$#$@& yfg ;fwf/0f z]o/ 3,944,776 434,270 3,944,776 15,546,866 51 :6|of088{ rf6{8 a}+s ln= sf] $&&^) yfg ;fwf/0f z]o/ 52,880,078 4,776,000 52,880,078 109,752,480 52 ;g/fO{h a}+s ln *!#() yfg ;fwf/0f z]o/ 23,626,385 8,139,000 23,626,385 31,823,490 53 ;g/fO{h a}+s ln (#)* yfg - ;+:yfks z]o/_ 464,328 930,800 464,328 3,434,652 54 o'lglnj/ g]kfn ln= sf] #*) yfg ;fwf/0f z]o/ 3,348,880 38,000 3,348,880 11,096,000 55 dfxf nlId lasf; a}+s ln #) yfg ;fwf/0f z]o/ -olt lasf; a}+s ln #) yfg z]o/_* 2,070 3,000 2,070 6,570 56 gfu/Ls PsfÍL of]hgf -l;cfO6L Do"r'jn km08_ 16,000,000 16,000,000 16,000,000 16,000,000 hDdf 1,571,294,126 555,867,847 1,574,372,026 2,659,588,635

gf]6 M != aLdssf] ;xfos sDkgL÷xf]lN8Ë sDkgL tyf ;+o'Qm nufgL ePsf] sDkgLsf] z]o/df ePsf] nufgLnfO{ 5'§f–5'§} v'nfpg' kg]{5 . @= lgodfg';f/ ;""lrs[t gePsf z]o/df ePsf] nufgLnfO{ 5'§} v'nfpg' kg]{5 . #= ;+:yfks z]o/ / cGo z]o/df ePsf] nufgLnfO{ 5'§f5'§} v'nfpg' kg]{5 .

*lo sDkgLx/ c? sDkgL;+u uflePsf] tyf ljno ePsf] sf/0fn] ubf{ ;dfof]lht z]o/ (Converted Share) ldlt @)&$.)#.#! ;Dd k|fKt ePsf] 5}g .*o; cg';"rLdf Do"r'jn km08 / cu|flwsf/ z]o/ ;d]t ;dfj]z u/LPsf] 5 .

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Investment in shares Schedule -21.1

S.N. Company Net Amount Face Value Purchase price Market Price Loss on Investment

1 Agriculture Development Bank Ltd 1893 units of share 157,925 189,300 157,925 819,669 -

2 NCC Bank Limited 15 units (Apex Development Bank Ltd. 32 units of share *) 2,336 3,200 2,336 4,960 -

3 Bank Of Kathmanu Ltd. 26326 units of Share 5,737,504 2,632,600 5,737,504 12,162,612 -

4 Bottlers Nepal Terrai ltd 1280 units of share 1,355,520 128,000 1,355,520 7,788,800 -

5 Butwal Power Co. Ltd.2293 Unit Of Share 1,470,100 229,300 1,470,100 1,421,660 48,440

6 Century Coomercial Bank Limited 23775 units of share 9,145,518 2,753,700 9,145,518 11,176,314 -

7 Chilime Hydro Power Co. Ltd. 1764 Unit Of Share 463,136 176,400 463,136 1,402,380 -

8 Citizen Bank International Limited 189130 units of shares 83,861,887 18,913,000 83,861,887 76,030,260 7,831,627

9 Citizen Investment Trust 69850 units of shares 244,627,583 6,985,000 244,627,583 278,003,000 -

10 CIVIL BANK LTD 7661units of share 2,920,720 766,600 2,920,720 1,895,932 1,024,788

11 Everest Bank Ltd.88339 Unit Of Share 111,207,124 8,833,900 111,207,124 120,847,752 -

12 Everest Bank Ltd. 430 Unit Of Preference Share 464,169 43,000 464,169 396,890 67,279

13 Global IME Bank Limited 131133 units of share 47,425,562 13,113,300 47,425,562 50,486,205 -

14 Global IME Samunnat Scheme-1 3797268 units 37,972,680 37,972,680 37,972,680 37,592,953 379,727

15 Himalayan Bank Ltd.51399 Unit Of Share 28,569,371 5,139,900 28,569,371 45,745,110 -

16 ICFC Finance Limited 299 units of share 47,501 29,900 47,501 84,916 -

17 Jalabidyut Lagani tatha Bikas Co. Ltd. 20000 units of shares 2,000,000 2,000,000 2,000,000 3,900,000 -

18 JANTA BANK LTD 58909 Units of share 8,245,848 5,890,900 8,245,848 17,335,770 -

19 Kumari Bank Ltd. 251610 Unit of Share (Promotor) 594,885 3,386,100 594,885 11,241,852 -

20 Kumari Bank Ltd. 33861 Unit of Share 16,100,000 25,161,000 16,100,000 50,322,000 -

21 LAXMI BANK LTD 4222 units of share 422,200 422,200 422,200 1,646,580 -

22 Laxmi Equity Mutual Fund 2924792 units 29,247,920 29,247,920 29,247,920 29,247,920 -

23 Laxmi Value Fund-1 88432 units 1,510,576 884,320 1,510,576 1,083,292 427,284

24 Machchapuchre Bank Ltd. 458 Unit Of Share 103,889 45,800 103,889 163,438 -

25 Mega Bank Limited 13289 units of share 965,700 1,328,900 965,700 6,086,362 -

26 Nabil Bank Ltd. 318795 Unit Of Share (Promoter) 175,465,130 31,879,500 175,465,130 365,976,660 -

27 Nabil Equity Fund 675902 units 6,759,020 6,759,020 6,759,020 6,759,020 -

28 Nepal Bangladesh Bank Limited 196000 units of shares 72,912,000 19,600,000 72,912,000 78,988,000 -

29 Nepal Bank Ltd 826567 units of share 107,364,055 82,656,700 107,364,055 304,176,656 -

30 Nepal Doorsanchar Comapany Limited 61565 units of shares 43,370,866 6,156,500 43,370,866 41,248,550 2,122,316

31 Nepal Film Dev. Ltd 154 units of share 1,540 15,400 1,540 5,290 -

32 Nepal Investment Bank Ltd.870355 Unit Of Promoter Share 241,925,109 87,035,500 241,925,109 588,359,980 -

33 Nepal Lube Oil Ltd 300 units of share 64,500 30,000 64,500 63,900 600

34 Nepal Re-insurance Company LTD. 501666.67 units of shares 50,166,667 50,166,667 50,166,667 50,166,667 -

35 Nepal SBI Bank Ltd. 91571 Unit of Share 33,682,456 9,157,100 33,682,456 84,611,604 -

36 Nepal Share Markets Ltd. 6593 Unit Of Share - 659,300 3,077,900 - 3,077,900

37 NLG Insurance Co. Ltd. 5551 units of share 216,982 555,100 216,982 8,104,460 -

38 NMB Bank Ltd. 3513 Unit Of Bonus Share - 351,300 - 1,914,585 -

39 NMB Hybrid Fund L-1 1261921 units 12,619,210 12,619,210 12,619,210 12,543,495 75,715

40 NMB Sulav Investment Fund-1 130500 units 1,305,000 1,305,000 1,305,000 1,645,605 -

41 Oriental Hotels Limited 18120 units of shares 6,484,478 1,812,000 6,484,478 12,140,400 -

42 Prabhu Bank LTD. Promoter 95564 units of shares 22,398,920 9,556,400 22,398,920 18,157,160 4,241,760

43 Premier Insurance Co. Ltd. 4864 units of shares 9,050,766 486,400 9,050,766 8,122,880 927,886

44 Prime Commercial Bank Limited 3640 units Share 357,246 364,000 357,246 1,536,080 -

45 Prime Commercial Bank Limited 259314 units Promoter Share 32,056,704 25,931,400 32,056,704 73,904,490 -

46 Rural Micro Development Centre Ltd. 110 units of Bonus share - 11,000 - 85,140 -

47 Sanima Bank Ltd. 33376 Unit Of Share 3,413,478 3,337,600 3,413,478 14,318,304 -

48 Siddhartha Bank Ltd.58759 Unit of Share 13,844,968 5,875,900 13,844,968 28,674,392 -

49 Siddhartha Equity Orineted Scheme 294886 units 2,948,860 2,948,860 2,948,860 3,538,632 -

50 Soaltee Hotel Ltd.43427 units of share 3,944,776 434,270 3,944,776 15,546,866 -

51 Standard Chartered Bank Nepal Ltd. 47760 Unit Of Share 52,880,078 4,776,000 52,880,078 109,752,480 -

52 Sunrise Bank Limited 81390 units of shares 23,626,385 8,139,000 23,626,385 31,823,490 -

53 Sunrise Bank Limited 9308 units of Promoter shares 464,328 930,800 464,328 3,434,652 -

54 Unilever Nepl Ltd.380 Unit Of Share 3,348,880 38,000 3,348,880 11,096,000 -

55 Maha Laxmi Bikash Bank Ltd(Yeti Dev Bank Ltd.) 30 units of share * 2,070 3,000 2,070 6,570 -

56 Nagarik Ekank Yojana( CIT Mutual Fund) 16,000,000 16,000,000 16,000,000 16,000,000

Total 1,571,294,126 555,867,847 1,574,372,026 2,659,588,635 20,225,322Note: 1) Insurer's investment in share of sister/Holding company and joint investment company has to be mentioned separately, 2) investment made in share not enlisted as per rule has to be mentioned seperetly . 3) Seperately to be disclosed of promotor share and other ordinary share. * These companies have been merged or acquired by other companies but the converted shares have not been received as on 31st Asadh, 2074, therefore the name of the earlier companies are shown in this Schedule. *This Schedule includes Mutal funds and Preference shares as well.

Bipin Kumar Lal Abhijit Ghosh Dastidar Kumar Keshar Bista V. K. KukrejaAsst. Manager (F&A) Acting CEO/Director Director Director

Ashok Agrawal B. Venugopal V.K. SharmaDirector Director Chairman


CA. B. K. AgrawalManaging PartnerFor B. K. Agrawal & Co.Chartered AccountantsDate: November 3, 2018


gub tyf a}+s df}Hbft cg';"rL–@@

qm=;+= ljj/0f o; aif{ ut aif{! gub df}Hbft 132,907,017 114,801,913 hDdf 132,907,017 114,801,913 @ a}+s df}Hbft jfl0fHo a}+sx?sf] df}Hbft 471,123,791 352,212,900 ljsf; a}+sx?sf] df}Hbft 6,005,540 4,345,131 ljQLo ;+:yfx?sf] df}Hbft - - cGo -ljj/0f v'nfpg]_ - - hDdf 477,129,331 356,558,031 s"n 610,036,348 471,359,944

cGo shf{ cg';"rL–@#

qm=;+= ljj/0f o; aif{ ut aif{-s_ bL3{sflng shf{ != clestf{nfO{ shf{ - - @= sd{rf/LnfO{ shf{ 37,691,434 30,806,874 #= cGo -ljj/0f v'nfpg]_ - - hDdf -s_ 37,691,434 30,806,874 -v_ cNksflng shf{ != clestf{nfO{ shf{ 285,586,059 228,149,831 @= sd{rf/LnfO{ shf{ - - #= cGo - - hDdf -v_ 285,586,059 228,149,831 hDdf -s±v_ 323,277,493 258,956,705





ldlt M @)&%÷)&÷!&


Cash and Bank Balances Schedule -22

S.N. Particular Current Year Previous Year1 Cash Balance 132,907,017 114,801,913 Total (A) 132,907,017 114,801,913 2 Bank Balance Deposit In Commercial Banks 471,123,791 352,212,900

Deposit In Development Banks 6,005,540 4,345,131

Deposit of Financial Institutions - -

Other - -

Total (B) 477,129,331 356,558,031 Total (A+B) 610,036,348 471,359,944

Other loans Schedule -23

S.N. Particular Current Year Previous Year(A) Long Term Loans 1 Loan To Agents

2 Loans To Employees 37,691,434 30,806,874

3 Other -

Total (A) 37,691,434 30,806,874 (B) Short Term Loan 1 Loans To Agents 285,586,059 228,149,831

2 Loans To Employees

3 Other -

Total (B) 285,586,059 228,149,831 Total (A+B) 323,277,493 258,956,705







cGo ;DklQ cg';"rL–@$

qm=;+= ljj/0f o; aif{ ut aif{1 nufgLaf6 k|fKt x'g afFsL cfo 133,202,160 137,318,727 2 aLdfn]vsf] lwtf]df shf{af6 k|fKt x'g afFsL Aofh 436,499,733 351,079,443 3 cGo -aLdfn]vsf] lwtf]df afx]s_ shf{af6 k|fKt x'g afFsL Aofh 137,162 334,307 4 cGo aLdsaf6 k|fKt x'g afFsL - - 5 k'gaL{dsaf6 k|fKt x'g afFsL 11,428,782 - 6 ljljw cf;fdL 2,294,142 203,992 7 clu|d s/ 1,220,928,511 945,363,377 8 sd{rf/L k]ZsL 3,046 40,345 9 cGo k]ZsL 523,001 108,392,962 10 w/f}6L 298,000 251,000 11 c;'n x'g afFsL aLdfz'Ns - - Go"g M c;'n x'g afFsL aLdfz'Ns d'NtjL -suspense_ - - 12 cGo M - s=clu|d e'QmfgL cf+lzs kl/kSj bfjL - - v= clu|d e'QmfgL vr{x? 4,783,264 5,867,180 u= z]o/÷l8j]Gr/ lgj]bg 25,984,000 - 3= pkbfg sf]if gful/s nufgL sf]ifdf 19,074,472 12,468,251 ª a}sdf r]s hdf ePsf] t/ s]|l86 k|Kt gePsf] 58,184,576 52,105,584 r= :yug s/ 6,025,981 1,039,589 hDdf 1,919,366,830 1,614,464,757

rfn' bfloTj cg';"rL–@%

qm=;+= ljj/0f o; aif{ ut aif{1 clestf{nfO{ lbg afFsL 121,656,079 59,036,397 2 cGo aLdsnfO{ lbg afFsL - - 3 k'gaL{dsnfO{ lbg afFsL 26,156,865 30,366,917 4 cNksflng shf{ 500,000,000 - 5 aLdfz'Ns w/f}6L 38,576,705 30,585,637 6 k"0f{ ljj/0f gv'n]sf] aLdfz'Ns 25,570,732 19,145,686 7 ljljw ;fx" 72,761,585 45,578,507 8 ;xfos÷xf]lN8Ë sDkgLnfO{ lbg afFsL - 9 >f]tdf s§f ul/Psf] s/ ltg{ afFsL 154,532 139,160 10 d"No clea[l4 s/ ltg{ afFsL - - 11 cfos/ ltg{ afFsL 779,778,779 488,304,849 12 ;]jf z'Ns ltg{ afFsL 87,090,539 70,701,064 13 ;+rfnsnfO{ lbg afFsL - - 14 cGo M - :yug s/ - - r]s hf/L ePsf] t/ e'QmfgL gePsf] /sd 363,141,439 266,997,466 e'QmfgL gePsf] d]l8sn z'Ns 2,812,021 2,321,826 tna tyf eQf vr{ Joj:yf 2,788,406 2,713,587 hDdf 2,020,487,682 1,015,891,096





ldlt M @)&%÷)&÷!&


Other Assets Schedule -24

S.N. Particular current year previous year1 Interest Receivable Against Investments 133,202,160 137,318,727

2 Interest Receivable Against Policy Loans 436,499,733 351,079,443

3 Other Interest Receivable against loan(except of Policy Loan) 137,162 334,307

4 Receivable From Other Insurer (Insurance Pool) - -

5 Due from re-Insurer 11,428,782 -

6 Miscellaneous Debtors 2,294,142 203,992

7 Advance Tax 1,220,928,511 945,363,377

8 Staff advances 3,046 40,345

9 Other advances 523,001 108,392,962

10 Security Deposits 298,000 251,000

11 Outstanding insurance premuim - -

12 Less: outstanding insurance premium suspense - -

13 Others -

a) Prepaid S.B. Claims - -

b) Prepaid Expenses 4,783,264 5,867,180

c) Debenture/ Share Application 25,984,000 -

d) Gratuity Fund at CIT 19,074,472 12,468,251

e) Cheque deposited but not credited by Banks 58,184,576 52,105,584

f) Defferred Tax Assets 6,025,981 1,039,589

Total: 1,919,366,830 1,614,464,757

Current Liability Schedule - 25

S.N. Particular current year previous year1 Due to Agents 121,656,079 59,036,397

2 Due to other Insurer - -

3 Due to re-insurer 26,156,865 30,366,917

4 Short term loans 500,000,000 -

5 Deposit premium 38,576,705 30,585,637

6 Unidentified Premium 25,570,732 19,145,686

7 Miscellaneous creditors 72,761,585 45,578,507

8 Due to Associate/Holding company -

9 TDS Payable 154,532 139,160

10 VAT Payable - -

11 Income Tax Payable 779,778,779 488,304,849

12 Service Charges Payable to Beema Samiti 87,090,539 70,701,064

13 Payable To Directors - -

14 Others -

Defferred Tax - -

Cheque issued But Not Encashed 363,141,439 266,997,466

Medical Fee Payable 2,812,021 2,321,826

Salary Payable 2,788,406 2,713,587

Total 2,020,487,682 1,015,891,096






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16 th ANNUAL REPORT 85Pr

ovis

ion

for U

nexp

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risk

Sche

dule

-26

S.N.

Pa

rticu

lar

curr

ent y

ear

prev

ious

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prov

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gle

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r Pr

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dule

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Note

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Asst

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alM

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awal

& Co

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arte

red

Acc

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ants

Date

: Nov

embe

r 3, 2

018


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Schedule-28

LIFE INSURANCE CORPORATION (NEPAL) LIMITED

Significant Accounting Policies

1. General Information:

1.1 Identity of the Company: Life Insurance Corporation (Nepal) Limited is a limited

liability company domiciled in Nepal. The Company was incorporated under the Nepal Companies Act, on December 26, 2000.The address of its registered office is Bhagwati Bahal, Naxal, Kathmandu, Nepal. The Company has a primary listing on the Nepal Stock Exchange Limited.

1.2 Nature of Business: The company obtained regulatory approval to undertake

Life Insurance business on September 1, 2001 from Beema Samiti (Insurance Regulatory Authority in Nepal). Under the approval, the Company is authorized to carry Life Insurance Business.

1.3 Promoters and shareholders: The principal promoters of the company are Life

Insurance Corporation of India (55%) and Vishal Group of Nepal (25%). The General Public holds 20% shares in the company.

1.4 Authorization to issue financial statements: The financial statements are prepared by the Company and

presented before the Beema Samiti for principle approval.

2. Summary of significant accounting policies:

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2.1 Basis of Preparation: The Institute of Chartered Accountants of Nepal

(ICAN) has made compulsory to implement NFRS at all Insurance companies with effect from F.Y. 2073-74 however the company has not prepared NFRS based financial statement during the year.

Financial statements of the Company have been prepared


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in accordance with formats prescribed by Financial Directives 2065 of Insurance Board of Nepal. The Insurance Board is authorized by the Insurance Act to prescribe format for preparation of financial statements. Whereas the said format does not address a particular issue, Nepal Accounting Standard has been applied.

The financial statements are presented in Nepalese Rupee. The financial statements, except cash flow statement, are prepared in accordance with the historical cost convention, on accrual basis of accounting (except otherwise stated).

2.2 Significant Deviations from Nepal Accounting Standards:a. Premium and some of the other incomes (interest

on premium) are recognized and accounted on cash basis which is a deviation from the recognition of revenue prescribed in NAS which requires recognition of revenue at the fair value of consideration received and receivable.

b. Post employment benefits of employees are measured at the amount payable on the date of preparation of financial statement assuming retirement on that date. This is deviation from the measurement and recognition prescribed in the NAS which requires recognition of post employment benefits at present value of defined benefit obligations and current service cost.

3. Foreign Currency:

Transactions in foreign currencies are translated to Nepalese Rupee at the foreign exchange rate ruling at the date of the transaction. The Company has no monetary or non-monetary assets and liabilities denominated in foreign currency.

4. Fixed Assets:

Owned Assets:Fixed Assets are stated at cost less accumulated depreciation (see below) and impairment losses. The cost includes purchase price and any cost directly attributable to bringing the assets to its working condition for its intended use.


Depreciation: a) Depreciation is charged on Written down Value method

over the estimated useful lives of fixed assets. The depreciation rates applied for various assets categories are as follows.

Types of Property Depreciation rateFurniture & Fixtures 25%Office Equipment 25%Computer and EDP 25%Intangible Assets 25%Lease Hold Assets 25%Vehicles 20% Other Assets 25%

b) Depreciation is provided on the fixed assets from the subsequent month of the acquisition date to the prior month of disposal unless it is fully depreciated before its disposal.

c) Capital Items for less than Rs. 5000/- are treated as Revenue Expenditure in the year of acquisition and charged to Profit and Loss Account and Revenue Account.

5. Investments:

a) Classification: Investments maturing within twelve months from the

date of financial statements are classified as short-term investments. Investments other than short-term investments are classified as long-term investments.

b) Valuation:Government securities:

Government securities are stated on cost price or face value whichever is less. Premium (excess of cost price over face value) is amortized on a straight line basis over the holding/maturity period. Similarly discount (excess of face value over cost price) is accounted as gain on investment on a straight line basis over the holding/maturity period.

Fixed Deposit of Banks/ Financial Institutions: Fixed deposits in commercial banks and other financial

institutions are accounted on principal amount.

Shares of public Companies: The investments made in ordinary shares of public

companies are accounted on cost price.

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;DklQsf] xsdf laqmL tyf ckn]vg x'g'eGbf cufl8sf]

dlxgf;Dd Xf; s§L ul/Psf] 5 .

u= ? %,)))÷– eGbf sd d"No ePsf] k'FhLut ;fdfgsf]

vl/bnfO{ vl/b u/]sf] jif{dfg} gfkmf–gf]S;fg lx;fa / cfo–

Aoo lx;fjdf vr{ n]vL n]vfÍg ug]{ gLlt lnOPsf] 5 .

%= nufgL M

s= juL{s/0f M

ljQLo ljj/0f tof/ ul/Psf] ldltaf6 !@ dlxgfleq

kl/kSjx'g] nufgLnfO{ cNksflng nufgLdf /flvPsf] 5 .

cNksflng afx]s cGo ;a} nufgLnfO{ bL3{sflng nufgL

cGtu{t juL{s/0f ul/Psf] 5 .

v= d"NofÍg M

;/sf/L lwtf]kqM

;/sf/L lwtf]kqx¿df ul/Psf] nufgLnfO{ nfut d"No jf

c+lst d'No dWo] 36Ldf n]vfÍg ul/Psf] 5 . c+lst d'No

eGbf nfut d'No al9 ePsf] v08df a9L /sd -lk|ldod_

nfO{ ;f] ;/sf/L lwtf]kqsf] e'QmfgL cjlwleq k|To]s jif{

;dfg'kflts ?kdf ckn]vg ul/Psf] 5 . nfut d'No eGbf

c+lst d'No al9 ePsf] v08df To:tf] /sd -5'6_ nfO{ ;f]

;/sf/L lwtf]kqsf] e'QmfgL cjlwleq k|To]s jif{ ;dfg'kflts

lx;fan] nufgLdf d'gfkmf zLif{s cGtu{t n]vfÍg ul/Psf]

5 .

a}+s tyf ljQLo ;+:yfsf] d'2tL lgIf]k M

a}+s tyf ljQLo ;+:yfdf ul/Psf] d'2tL lgIf]knfO{ ;fFjf

/sddf n]vfÍg ul/Psf] 5 .


klAns ln= sDkgLsf] z]o/x¿ M

klAns ln= sDkgLx¿sf] ;fwf/0f z]o/df ul/Psf] nufgLnfO{

nfut d"Nosf] cfwf/df n]vfÍg ul/Psf] 5 .

klAns sDkgLsf] C0fkqx¿ M

klAns ln= sDkgLsf] C0fkqnfO{ nfut d"No / c+lst d"No

dWo] h'g sd 5 ;f]xL c'g;f/ b]vfO{Psf] 5 . c+lst d"No eGbf

nfut d"No al9 ePsf] v08df To:tf] al9 /sd -lk|ldod_ nfO{

To:tf] C0fkqsf] e'QmfgL cjlwleq k|To]s jif{ ;dfg'kflts

?kdf ckn]vg ul/Psf] 5 . nfut d'No eGbf c+lst d'No al9

ePsf] v08df To:tf] /sd -5'6_ nfO{ ;f] C0fkqsf] e'QmfgL

cjlwleq k|To]s jif{ ;dfg'kflts lx;fan] nufgLdf d'gfkmf

zLif{s cGtu{t n]vfÍg ul/Psf] 5 .

gf]S;fgL M

lwtf]kq ahf/df ;'lrs[t ul/Psf lwtf]kqx¿nfO{ ahf/of]Uo

lwtf]kq (Marketable Securities) elgG5 . To; k|sf/sf]

lwtf]kqsf] ahf/ d"Nodf ePsf] kl/at{gn] ubf{ ePsf]

gf]S;fgL /sdnfO{ nufgLdf ePsf] gf]S;fg Aoj:yf zLif{sdf

hgfO{ gfkmf–gf]S;fg lx;fj vr{ n]vfÍg ul/Psf] 5 . nufgL

laqmL gx'Fbf;Dd ahf/d"Nodf ePsf] km]/abnaf6 ePsf]

gfkmfnfO{ cfDbfgL hgfO{Psf] 5}g .

%=!= gub / a}+s df}Hbft M

gub / a}+s df}Hbft cGtu{t gub df}Hbft, d'2tL lgIf]k afx]ssf]

a}s df}Hbft / cGo pRr t/n ;DklQx¿ /x]sf 5g\ . a}+s

clwljsif{, sDkgLsf] gub Aoj:yfkgsf] cleGg c+usf]

?kdf /x]sf] 5 . To; k|sf/sf] a}s clwljsif{nfO{ jf;nftdf

rfn' bfloTj cGt/u{t cNksfnLg shf{ zLif{sdf b]vfOPsf]

5 .

^= laldt C0f M

o; aif{ sDkgLsf] s'g}klg z+sf:kb cf;fdL /x]sf] 5}g, t;y{ ;f]

afktsf] /sd Aoj:yf ul/Psf] 5}g .

&= c;dfKt hf]lvd Aoj:yf M

a}b]lzs /f]huf/ aLdf Joj;fo cGt{ut aLdfÍLo d"Nof+sg / afFsL

aLdf cjlwsf] ;dfg'kftLs aldf z'Ns dWo] h'g a9L x'G5, ;f]

a/fa/sf] /sd c;dfKt hf]lvd Joj:yf ul/Psf] 5 . cGo ladfdf

o:tf] Joj:yf ul/Psf] 5}g .

Debentures of Public Companies: Debentures of public companies are stated on cost

price or face value whichever is less. Premium (excess of cost price over face value) is amortized on a straight line basis over the holding/maturity period. Similarly discounts (excess of face value over cost price) are accounted as gain on investment on a straight line basis over the holding/maturity period.

Impairment: Securities that are listed in stock exchange are

considered as marketable securities. Any loss arising from change in market value is credited to Provision to Loss on Investment by charging to Profit and Loss Account. Gain arising from change in market price is adjusted in the provision to loss on investment to the extent of such provision. Gain arising from change in market price not adjusted is not recognized as revenue unless disposed.

5.1 Cash and Bank Balances: Cash and bank balance comprises cash balances, bank

balances other than fixed deposits and other highly liquid materials. Bank overdrafts that are repayable on demand and form an integral part of the company’s cash management are included within borrowings in current liabilities on the Balance Sheet.

6. Loan to Policyholders:

Loan to policy holder in excess of surrender value of the Policy is written off in the year in which outstanding loans exceeds surrender value.

7. Provision for unexpired risk:

Provision for unexpired risk in Overseas Employment insurance is made on the basis of actuary valuation or proportionate premium to the remaining term whichever is higher. In case of Micro Term Insurance provision for unexpired risk is made proportionate premium for the remaining term .No such provisions are made for other insurance.


*= ckn]vg ug{ afFls ljljw vr{ M

o; cGtu{t sDkgLn] nufgLdf e'QmfgL u/]sf] lk|ldod /sd /x]sf] 5 .

(= cfo n]vfÍg ljlw M

(=! aLdfz'Ns cfDbfgL M

aLdfz'Ns cfDbfgLnfO{ aLdf ;ldltsf] lgb]{lzsf cg'?k gub

cfwf/df n]vfÍg ul/Psf] 5 .

(=@ k'gaL{df sldzg M

lgoldt k'gaL{df sldzgnfO{ k|f]befjL ( Accrual) cfwf/df

n]vfÍg ul/Psf] 5 . k'gaL{dfdf gfkmf sldzg cfonfO{ gubL

cfwf/df n]vfÍg ul/Psf] 5 h'g g]kfn n]vfdfg adf]lhd

/x]sf] 5}g .

(=# cGo cfo M

Aofh -sn lgIf]k df k|fKt Aofh ;lxt_ cfo nfO{ k|f]befjL

(Accrual) cfwf/df n]vfÍg ul/Psf] 5 . z]o/ nfef+z

cfDbfgLnfO{ nfef+z 3f]if0ff ePsf] ldltsf] cfwf/df n]vfÍg

ul/Psf] 5 .

(=$ shf{ / k]ZsL af6 k|fKt Aofh cfDbfgL M

aLdfn]v lwtf]df k|bfg ul/Psf] shf{ / sd{rf/L Pj+ clestf{

nfO{ e'QmfgL ul/Psf] cGo shf{af6 k|fKt Aofh cfDbfgLnfO{

k|f]befjL ( Accrual) cfwf/df n]vfÍg ul/Psf] 5 .

!)= cfo—Aoo afF8 kmfF8 gLlt M

s= Aofh / nfef+z cfDbfgLnfO{ aLdf ;ldltåf/f hf/L ul/Psf]

ljQLo lgb]{lzsf @)^% cg'?k gfkmf–gf]S;fg lx;fa / cfo–

Aoo lx;fadf afF8 kmfF8 ul/Psf] 5 .

v= aLdf Aoj;fo;+u ;DjlGwt vr{nfO{ cfo–Aoo lx;fadf

n]vfÍg ul/Psf] 5 .

u= aLdf ;ldltåf/f hf/L ul/Psf] ljQLo lgb]{lzsf @)^% cg'?k

Aoj:yfkg vr{sf] !)Ü / ()Ü /sd nfO{ qmdzM gfkmf

gf]S;fg lx;fj / cfo Aoo lx;fjdf afF8 kmfF8 ul/Psf] 5 .

!!= bfjL

!!=! bfjL e'QmfgL M

bfjL e'QmfgL cGtu{t bfjL km5\of}{6sf] nflu cfjZos k/fdz{

tyf cg';Gwfg vr{ / bfloTj :jLsf/ u/]afktsf] cGo k|ToIf

8. Miscellaneous Expenditure to the extent not written off:

Miscellaneous expenditure to the extent not written off comprises of premium paid on investments as stated in policy.

9. Revenue Recognition: 9.1 Premium Income: Premium Income has been recognized on cash basis as

required under directives of the Insurance Board.

9.2 Re-insurance Commission: Regular Re-insurance commissions are recognized on accrual

basis. Profit commissions on re- insurance are recognized on cash basis which is not in accordance with NAS.

9.3 Other Income: Interest (including interest on call deposit) income

is recognized on accrual basis. Dividend income is recognized as income when right to receive is established.

9.4 Income from loans and advances: Incomes on loan against insurance policies and other

loans provided to agents and staffs are accounted for on accrual basis.

10. Income and Expenditure Allocation Policy:a) Interest and Dividend incomes are allocated to Profit and

Loss Account and Revenue Account as prescribed in the Financial Directives 2065 issued by Insurance Board.

b) Expenses related to insurance business are charged to Revenue Account.

c) As prescribed in the Financial Directives 2065 issued by Insurance Board, Management expenditure is allocated in the ratio of10:90 to Profit & Loss Account and Revenue Account respectively.

11 Claim Payment:Claims paid include specific claim settlement costs such as investigation/legal fees and other directly attributable following a loss accepted. Claims are accounted for on accrual basis.

11.1 Provision for Insurance Claim: Claims are recognized on the date of intimation of

the loss without deducting amount recoverable from reinsurers. Estimated liability for outstanding claims is determined on the basis of individual claim and is


vr{x¿nfO{ ;dfj]z ul/Psf] 5 . bfJfL e'QmfgL k|f]befjL

(Accrual) cfwf/df n]vfÍg ul/Psf] 5 .

!!=@ aLdf bfjL Aoj:yf M

bfjL /sdnfO{ hfgsf/Ldf cfPsf] ldltdf s"n sjf]n

bfloTj /sddf k'gaL{df sDkgLaf6 kfpg'kg]{ /sdnfO{ g36fO{

u0fgf ul/Psf] 5 . e'QmfgL ug{ afFsL bfjL jfktsf] ;Defljt

bfloTjnfO{ aLdf lgodfjnL @)$( , v08 !%-3_ cg'?k

!!% k|ltzt sf] b/n] AolStut bfjLsf] cfwf/df Aoj:yf

ul/Psf] 5 .

!!=# dxfljklQ sf]if

>L aLdf ;ldlt sf] ldlt @)&!.)^.)* kl/kq g+ lj= lj=

zf= &^-)&!.)&@_ r=g= *#^ adf]lhd jfF8kmfF8sf] nfuL

pknAw /sdsf] !)% /sd dxfljklQ sf]ifdf ;fl/Psf] 5 .

!@= aLdf Aoj;foaf6 k|fKt cfosf] u0fgfM

aLdf s/f/af6 pTkGg aLdf bfloTjx¿sf] n]vfÍg :jtGq

aLdfÍL d'NofÍgsf] cfwf/df ul/Psf] 5 . To; k|sf/sf] aLdfÍL

d'NofÍgaf6 cfPsf] /sdnfO{ cfosf] ?kdf gfkmf gf]S;fg lx;fjdf

aLdf ;ldlt¢f/f hf/L ul/Psf] ljQLo lgb]{lzsf @)^% cg'?k

n]vfÍg ul/Psf] 5 .

!#= sd{rf/L ;'ljwf M

cNksflng sd{rf/L ;'ljwf M

cNksflng sd{rf/L ;'ljwfnfO{ k|f]befjL cfwf/df u0fgf ul/Psf] 5 .

cNksflng labfafktsf] /sd M

labf afktsf] e'QmfgLug{ afFsL tnj /sdnfO{ k|f]befjL cfwf/df

u0fgf ul/Psf] 5 .

cjsfz ;'ljwf M

sDkgLåf/f sd{rf/Lx¿sf] nflu cjsfz ;'ljwfsf] nfuL lglZrt

;'ljwf e'QmfgL x'g] Aoj:yf ul/Psf] 5 . To; Aoj:yf cg'?k

sd{rf/Lx¿n] kfpg] cjsfz ;'ljwfdf pkbfg jfktsf] kfpg] /sd

d'Votof sd{rf/Lsf] pd]/, ;]jf cjlw / tnj ;'ljwf cflb cg';f/

lgwf{/0f x'g] ub{5 . pkbfg ;'ljwf jfktsf] of]ubfg /sd sDkgL /

gful/s nufgL sf]if aLr ePsf] ;Demf}tf cg';f/ gful/s nufgL

sf]ifdf hDdf ul/G5 . of]ubfg /sd e'QmfgL ug'{kg]{ lbgdf vr{

hgfpg] ul/G5 .

provided at 115% of outstanding claim as prescribed in section 15(d) of Insurance Regulation 2049.

11.2 Catastrophe Reserve: As per the instruction issued by Beema Samiti vide their

letter dated 2071.06.08, circular no. Bi.Bi.Sa. 76/(071/72) dispatch no. 836, a catastrophe reserve equal to 10% of the amount available for appropriation has been made.

12. Recognition of income from Insurance Business:

The insurance liability arising from the insurance contracts is estimated by independent actuarial estimation. Amount recommended, on such actuarial valuation, to recognize as income is recognized in Profit and Loss Account in accordance with Financial Directives 2065 issued by Insurance Board.

13. Employee Benefits:

Short term employee benefits:Short term benefits to employees are recognized on accrual basis.

Short term compensated absences:Salary in lieu of leave is recognized on accrual basis.

Retirement Benefits:The Company has defined benefit plan for retirement benefits of employees. A defined benefit plan is a retirement plan that defines an amount of gratuity benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. The Company pays contributions to Citizen Investment Trust on a contractual basis. The contributions are recognized as employee benefit expenses when they are due.

14. Income Tax:

Income tax on the profit or loss for the year comprises current and deferred taxes. Income tax is recognized in the Profit and Loss Account and Revenue Account except to the extent that it relates to items recognized directly to equity, in which case it is recognized in equity.

Current Tax:Current tax is the amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period. Current tax liabilities (assets) for the current and prior


!$= cfos/ M

Afif{sf] Gffkmf gf]S;fg lx;fadf cfos/ cGtu{t rfn' / :yug

cfos/ ;dfj]z /x]sf 5g\ . OSo'6Ldf n]vfÍg ul/Psf] /sd

afx]s cfos/ /sdnfO{ gfkmf gf]S;fg lx;fa / cfo Aoo lx;fjdf

n]vfÍg ul/Psf] 5 .

Rffn' s/ M

cfos/ P]g / ;f] P]g cGtu{t ag]sf] lgodfjnL adf]lhd x"g cfpg]

s/ of]Uo cfodf jf;nftsf] ldltdf sfod /x]sf] cfos/ b/ cg";f/

cfos/ u0fgf ul/ cfos/ Joj:yf ul/Psf] 5 .

:yug s/ M

ljlQo ljj/0f / cfos/ cfwf/ jLr b]lvPsf] s/ ;dfof]hg x"g

;Sg] c:yfO{ km/snfO{ :yug s/ ;DklQ÷bfloTjdf n]vf+s0f

ul/Psf] 5 . :yug s/ ;DklQ÷bfloTjnfO{ jf;nftsf] ldltdf

sfod /x]sf] cfos/ b/ sf] cfwf/df kl/df0fLs/0f ul/Psf] 5.

gfkmf gf]S;fg lx;fa / cfo Aoo lx;fadf afF8 kmfF8 M

cfos/nfO{ gfkmf gf]S;fg lx;fa / cfo Aoo lx;fadf aLdf

;ldlt¢f/f hf/L ul/Psf] ljQLo lgb]{lzsf @)^% cg'?k lgsflnPsf]

ef/sf] cfwf/df afF8 kmfF8 ul/Psf] 5 .

!%= l:y/ ;Dkltsf] Ifo M

l:y/ ;Dkltdf cfGtl/s Pj+ afx\o sf/0faf6 s'g} Ifo eP gePsf]

;DaGwdf k|To]s jf;nft ldltdf k'g/fjnf]sg ul/G5 . l:y/

;Dkltsf] k|fKtJo d"No (Recoverable Amount) eGbf n]vflÍt

/sd (Carrying Amount) a9L ePdf Ifo x|f; ePsf] dflg vr{

n]lvG5 .

!^= C0f nfut M

l:y/ ;Dklt k|flKtsf] qmddf C0f / ;fk6L nfutx¿ nfO{ l:y/

;Dklt nfutsf] ?kdf k"Flhs[t ul/Psf] 5 . cGo nufgL tyf ;fk6L

nfutx¿nfO{ cfDbfgL lx;fadf hgfOPsf] 5 .

!&= ;+efljt bfloTjx¿ / ;+efljt ;Dkltx¿sf] k|fjwfgx¿ M

lautdf ePsf] s'g} 36\gfsf] sf/0f at{dfgdf bfloTj l;h{gf e}

;f]sf] nflu ;|f]taf6 lgsf;f cfjZos x'g uPdf / bfloTj k'/f

ug{ ljZjzgLo /sdsf] th'{df ug{ ;lsG5 eg] sDkgLn] cfjZos

k|fjwfgsf] Joj:yf u5{ .

periods are measured at the amount expected to be paid to (recovered from) the taxation authorities, using the tax rates that have been enacted by the Balance Sheet date.

Deferred Tax:Deferred tax asset is recognized for all temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted by the balance sheet date.

Allocation between Profit and Loss Account and Revenue Account:Income Tax is allocated between Profit & Loss Account and Revenue Account as per the derived weights of Profit & Loss Account and Revenue Account as prescribed by Financial Directives 2065 issued by the Insurance Board.

15. Impairment of Assets:

The carrying amounts of assets are reviewed at each balance sheet date, if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount.

16. Financing and Borrowing Cost:

Financing/Borrowing costs attributable to the acquisition of the asset is capitalized as part of the cost of the asset. Other Financing/Borrowing costs are charged to the Income Statement.

17. Provisions, Contingent Liabilities and Contingent Assets

The Company creates a provision when there is a present obligation as a result of past events that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but


s'g} ;+efljt bfloTj jf at{dfgdf s'g} bfloTj x'g ;Sg] -hf] ;+efjt

x'b}g_ nfO{ ;|f]taf6 s]xL lgsf;f cfjZos ePdf ;+efljt bfloTjsf]

k|fjwfg Joj:yf ul/G5 . olb ;+efljt bfloTj jf at{dfg bfloTjsf

nflu ;|f]taf6 lgsf;f ug{ g;lsg] ePdf o:tf] k|fjwfg /flvb}g .

ljQLo ljj/0fdf ;+efljt ;Dkltx¿nfO{ n]vfÍg ul/b}g . t}klg

;+efljt ;Dkltx¿nfO{ lg/Gt/?kn] d"Nofs+g ul/Psf] x'G5, olb

cjf:tljs?kdf cfly{s nfe cfFpg] lglZrt ePdf ;f] ;Dklt /

;Da4 cfDbfgLnfO{ kl/jt{g b]lvPsf] cjlwdf n]vfÍg ul/G5 .

!* k|lt z]o/ cfDbfgL M

cfwf/e"t k|lt z]o/ cfDbfgL lgsfNbf s'g} tf]lsPsf] cjlwdf

z]o/wgLx¿nfO{ k|fKt x'g] s"n gfkmf jf gf]S;fgnfO{ ;f] cjlwdf

laBdfg s"n z]o/ ;+Vofn] efu ul/Psf] x'G5 .

!(= t'ngfTds hfgsf/L M

n]vf gLlt jf cfwf/e"t uNtLsf] sf/0faf6 kl/jt{g ePsf] zLif{sdf

;fk]lIfs hfgsf/L k'gM jlu{s/0f ul/ pNn]v ul/Psf] 5.

@)= Aoj;fo v08sf] ljj/0f M

sDkgLn] k|of]hgdf NofPsf] ljleGg lsl;dsf] ;]jf / zt{ ;lxtsf]

aLdf of]hgfnfO{ ljlEfGGf pko'Qm Aoj;fo v08df ( Business

Segment) /fvL ;f]xL cg';f/ cnu–cnu cfo Aoo lx;fa tof/

ul/Psf] 5 .

probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

Contingent assets are not recognized in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an economic benefit will arise, the asset and related income are recognized in the period in which the change occurs.

18. Earnings per Share:

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

19. Comparative information:

Comparative information has not been restated in respect of any items due to change in accounting policies or fundamental errors.

20. Segment Reporting:

A segment is a distinguishable component of the Company that is engaged either in providing products or services (business segment) which is subject to risks and rewards that are different from those of other segments. These business segments are reported through separate revenue accounts.









ldlt M @)&%÷)&÷!&



cg';"rL — @(

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8ljQLo ljj/0f;+u ;DalGwt n]vf ;DalGw l6Kk0fLx¿

!= ;Defljt bfloTjx¿ Ms_ of] aif{ r'Qmf jf e'QmfgL x'g afsL nufgL 5}g .v_ of] aif{ sDkgLn] s'g} k|Tofe"lt k|lta4tf u/]sf] 5}g .u_ of] aif{ aLdfn]v cGtu{teGbf afx]s cGo s'g} bfjL cfPsf] 5}g .3_ of] aif{ sDkgLn] jf sDkgLsf] tkm{af6 s'g} Uof/]G6L lbg] sfd ePsf] 5}g .ª_ c:jLs[t d[To' bfjL /sd ? @&(=%@ nfv afx]s cGo s'g}

bfloTj /x]sf] 5}g .

@= aLdfÍLn] aLdssf] bfloTj d"NofÍg ubf{ cjnDag u/]sf] cfwf/x¿ M

ut aLdfÍLo d"NofÍg -!^=)&=@)!&_ df aLdfÍLåf/f s'n (Gross) lk|ldod ljlw ckgfOPsf] 5 / cfufdL aLdfÍLo d"NofÍg !^=)&=@)!* sf] lalQo ljj/0f sf] cfwf/df ug'{kg]{5 .

#= sDkgLsf] ;DklQdf s'g} lsl;dsf] ;Lldttf tyf ljjfbx¿ /x]sf] 5}g . sDkgLn] xfn;Dd v/Lb u/]sf] ;Dk"0f{ ;DklQ sDkgLsf] :jfldTjdf /x]sf] 5 / To;df s'g} bfjL jf ljjfb /x]sf] 5}g .

$= aLdf ;ldltsf] lgb]{zfg'zf/ cf=a= @)&#.@)&$ sf] hLjg sf]if, afFsL d[To[ bfjL / c;dfKt hf]lvd a/fa/sf] nufgL /sdnfO{ Oo/dfs{ ul/ aLdf ;ldltdf /flvPsf]5 .

%= shf{, nufgL tyf l:y/ ;Dkltsf] nflu sDkgLn] xfn;Dd s'g} lsl;dsf] k|lta4tf AoQm u/]sf] 5}g .

^= nufgL;+u ;DalGwt b]xfosf v/Lb laqmL ;Demf}tfx/msf] d"No Ms_ v/Lb ul/Psf] ;DklQsf] :jfldTj k|fKt gePsf] s'g} ;DklQ g/x]sf] .v_ laqmL ul/Psf] ;DklQsf] e'QmfgL k|fKt x'g jf+sL g/x]sf] .

&= aif{e/L ul/Psf] nufgLsf] ljj/0f Ms_ nufgLx¿ M

nufgL ePsf] lwtf]kq ÷;+:yf /sd ?=c_ ;/sf/L lwtf]kq / af]G8 —cf_ jfl0fHo a}+sx¿ !*,#),)),)),)))÷—O_ ljsf; a}+sx¿ $,#),)),)))÷—O{_ kmfOgfG; sDkgLx¿ —p_ laleGg sDkgLx¿sf] z]o/÷PsfÍ %%,)%,(#,$%!÷— tyf C0fkqx¿ hDdf -s_ !(,@*,)%,(#,$%!÷—

Schedule 29

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDNotes to Accounts related to Financial Statements

1. Contingent Liabilities:a) There are no unpaid investments. b) The Company has no underwriting commitments for

shares or other securities.c) There is no claim beside the insurance contracts which

are disclosed in the financial statements.d) There is no guarantee given by the company or on behalf

of the company.e) There are no other liabilities except repudiated death

claims of Rs. 279.52 lakh.

2. Basis adopted by Actuary while evaluating Insurer’s liabilities:

In the last valuation (till 15.07.2017), the Gross Premium method of valuation was adopted. Next valuation will be done on the basis of financial statement of 16.07.2018, as per regulation of Insurance Board.

3. There are no dispute and limitation regarding the company’s property. The company owns all the properties and assets that are purchased by the Company and there is no dispute on any properties.

4. Investments equal to life fund, outstanding death claims & unexpired risk of Financial year 2073/74(2016/17) are earmarked in the name of Insurance Board of Nepal as per their instruction.

5. The company has not made any commitments on its loans, investments and fixed assets.

6. Amount relating to purchase/sale agreements of Investment:i) There are no acquired properties/assets of which

ownership has not been obtained by the company.ii) There is no amount due against sales of the

company’s property.

7. Detail of investments made during the year is as follows:a) Investments:

Particulars AmountA. Government Securities & Bond -

B. Deposit in Commercial Banks 18,300,000,000/-

C. Deposit in Development Banks 430,000,000/-

D. Deposit in Finance Companies -

E. Shares/Units & Mutual Fund /Debenture of Various Companies

550,593,451/-

Total 19,280,593,451/-


v_ o; aif{ cjlw kl/kSj eO{ laqmL ul/Psf nufgL ljj/0fx¿ MnufgL ePsf] lwtf]kq ÷;+:yf /sd ?=c_ ;/sf/L lwtf]kq / af]G8 —cf_ jfl0fHo a}+sx¿ !!,!&,!%,)),)))÷—O_ ljsf; a}+sx¿ $&,)),)),)))÷—O{_ kmfOgfG; sDkgLx¿ @*,)),)),)))÷—p_ laleGg sDkgLx¿sf] z]o/ tyf C0fkqx¿ #@,@@,@$,(@%÷— hDdf kl/kSj ePsf] nufgL !@,@$,#&,@$,(@%.–

u_ g]kfn k'gaL{df sDkgL lnld6]8af6 afF8kmfF8df k/]sf] ?=%,)!,^^,^^&÷— j/fj/sf] ;]o/ k|df0fkq k|fKt gePsf]n] cef}ltsLs/0f ul/Psf] 5}g .

*= sDkgLn] ;a} a}+sx¿af6 a}+s df}Hbft ljj/0f k|fKt u/]sf] / ;f] d'tfljs sDkgLsf] lx;fa ldnfg ul/ ljj/0fsf] nut Jojl:yt /flvPsf] 5 .

(= aLds÷k'gaL{dsaLrsf] sf/f]af/ lx;fanfO{ ;DalGwt aLds ÷k'gaL{dssf] ;dy{g ;lxtsf] lx;fa ldnfg ljj/0f tof/ kfl/Psf] 5 .

!)_ aLdf lgodfjnL tyf aLdf ;ldltaf6 tf]lsP adf]lhdsf] lgb]{zg cg';f/ sDkgLn] nufgL u/]]sf] 5 .

!!_ ;DalGwt kIf;+u ePsf] sf/f]af/M -s_ xf]lN8ª sDkgL

sDkgLsf] s'n z]o/sf] %%∞ lx:;f nfOkm OG:of]/]G; skf]{/]zg ckm OlG8ofsf] /x]sf]n] of] sDkgL nfOkm OG:of]/]G; skf]{/]zg ckm OlG8ofsf] ;lA;8fo/L (Subsidiary) xf] .

-v_ cGo ;DalGwt kIf sDkgLsf] s'n z]o/sf] @%Ü lx:;f g]kfnsf] ljzfn u|'k lnld6]8sf] /x]sf]n] cGo ;DalGwt kIf ePsf] t;y{ sDkgLsf] lgb]{zs lgo'Qm ug]{ xsbf/ /x]sf] 5 .

-u_ ef/tLo hLjg aLdf lgud;+usf] ;Demf}+tf cg';f/ k|fljlws ;]jf z"Ns jfkt ?=$@,%$,!!* -Eof6;lxt _ e'QmfgL ul/Psf] afx]s sDkgLåf/f sDkgLsf] ;+rfns jf ;+rfns;+u ;DalGwt JolQm jf ;+:yf;+u s'g} sf/f]af/ ul/Psf] 5}g . k|fljlws ;]jf z"Ns ;Demf}+tf aLdf ;ldltaf6 ldlt hgj/L !, @)!# af6 nfu" x'g] u/L % aif{sf nfuL :jLs[t /x]sf] 5 .

-3_ ;+rfns tyf d"Vo Joj:yfksnfO{ lbOPsf] tna, eQf Pj+ e|d0fjfktsf] cNksflng ;'ljwfx¿M;+rfnsx¿nfO{ ;+rfns ;ldlt a}7s eQf ?= !,&$,)))÷—Nf]vf ;ldlt ;b:ox¿nfO{ a}7s eQf ?= %),)))÷—sd{rf/L Joj:yfkg ;ldlt ;b:ox¿nfO{ a}7s eQf ?= @,%))÷—;+rfnsx¿nfO{ e|d0f eQf ?= @#,@*,((!÷—

b) Details of matured and sold Investments during the financial year: Particulars AmountA. Government Securities & Bond -

B. Deposit in Commercial Banks 11,171,500,000/-

C. Deposit in Development Banks 470,000,000/-

D. Deposit in Finance Companies 280,000,000/-

E. Shares/Units & Mutual Fund /Debenture of Various Companies

322,224,925/-

Total 12,243,724,925/-c) Disclosure of Share Investment:Nepal Re-insurance Company Ltd. has allotted share to us for sum of Rs. 50,166,667/- which is not yet listed in Stock Exchange and therefore has not been dematerialized yet.

8. The company has received bank statements of all bank accounts and all bank accounts are reconciled.

9. Description of transactions of re-insurance is approved by Re-insurer along with reconciliation.

10. The company has made investments according to the relevant insurance rules and criteria prescribed by Insurance Board.

11. Related party:A. Holding Company

55% of shares of the Company are held by Life Insurance Corporation of India. Hence, this company is a subsidiary of Life Insurance Corporation of India.

B. Other Related PartyVishal Group Ltd. of Nepal holds 25% of shares of the Company and is entitled to nominate a director in the Company. Hence Vishal Group Ltd. of Nepal is a related party.

C. Payments to Holding CompanyA Technical Service Fee amounting to Rs.4,254 thousand (including VAT) to Life Insurance Corporation of India. The Technical Service Fee is paid as per agreement approved by Insurance board of Nepal for the period of 5 years w.e.f. January 1, 2013.

D. Transactions with Directors or persons associated with them:The company has not made any transaction and investments with Directors of the company or other person and organization associated to Directors except meeting fees and traveling expenses as stated below:Meeting Fees Paid to Board Members Rs.1,74,000.00Meeting Fees paid to Audit Committee Members Rs. 50,000.00Meeting Fees paid to Employee Management Committee Members Rs.2,500.00Travelling & Board meeting Expenses Rs.23,28,991.00


>L kL=cf/=ld> -e'=k"=k|d'v sfo{sf/L clws[t_ ?= !!,^@,)&)÷—>L P;=;L= k§gfos -e'=k"= sfo{jfxs k|d'v sfo{sf/L clws[t_ ?=@,)!,)@$÷—>L clelht 3f]if bl:tbf/ -sf=d'= k|d'v sfo{sf/L clws[t _ ?= &*,%%,^*!÷—>L ;'lw/ ;fu/ -k|aGws cfO=6L=_ ?= &@,!*,@@!÷—pk/f]St tna eQf afx]s a:gsf] nflu 3/sf] Aoa:yf ;d]t ul/Psf] 5 .

!@_ sDkgLn] o; cfly{s aif{df ;/sf/L lwtf]kq / af]08 lj?4 ? %,)),))) xhf/ a/fa/sf] C0f /fli6«o jfl0fHo a}+saf6 lnPsf] 5 .

!#_ sDkgLn] cf=a= @)&@÷&# ;Ddsf] cfo ljj/0f bflvnf ul/ ;s]sf] 5 . cf=a= @)^%÷^^ ;Ddsf] s/ bfloTj jfkt s'g} cltl/Qm /sd dfu gePsf] . 7"nf s/bftf sfof{non] cf=a= @)^^÷^&, cf=a= @)^&÷^*, cf=a=@)^*÷^(, cf=a=@)^(÷&) / cf=a=@)&)÷&! sf] k"gM s/ lgwf{/0fu/L b]xfo adf]lhdsf] yk cfo s/ tyf clu|d cfo s/sf] dfu u/]sf] 5 .

cf=a= k"gM lgwf{/0fsf] ldlt

cfo s/ dfu - ?=_ clu|d cfo s/ dfu-?=_

@)^^÷^& @)&!=)^=#) @%,*%,%)^=)* #,$@,!&)=%)@)^&÷^* @)&@=)%=)! #,!$,(#,)@(=#( !,&(,^(!=^#@)^*÷^( @)&#=)$=!) $,(&,%^,#&&=#^ &^,@%@=*)@)^(÷&) @)&#=)(=@* #,&),^&,@#(=)) @,@!,*^#=))@)&)÷&! @)&%=)#=#@ ##,^(,%%^=$* $,#$,%!!=&%

hDdf !@,$@,&!,&)*=#! !@,%$,$*(=^*

7"nf s/bftf sfof{nosf] pQm cfb]zdf sDkgLnfO{ lrt ga'em]sf]n] sfg"gL pkrf/sf] k|lqmofdf /x]sf] 5 .

!$_ of] aif{ sDkgLn] s'g} aLdfz'Ns lkmtf{ u/]sf] 5}g .

!%_ sDkgLn] aLldtnfO{ cf= a= @)&#÷)&$ ;Ddsf] af]g;sf] b/ 3f]if0ff u/]sf] 5 . xfn ;Dd cGtl/d af]g;sf] ?kdf nfu" ul/Psf] ljj/0f lgDg cg';f/ /x]sf] 5 M

;fjlws aLdf / hLjg cfgGb aLdfn]vx¿dfjif{ cjlw %—!( @)—@$ @% jf ;f] eGbf al9af]g; b/ ^!=)) ^%=)) &%=))wglkmtf{ aLdfaif{ cjlw !% @) @%af]g; b/ ^!=)) ^@=)) ^#=))hLjg t/+u aLdfaif{ cjlw !) !% @)af]g; b/ ^!=)) ^#=)) &@=))af]g;b/ k|ltxhf/df nfu" x'g]5 .

E. Compensation paid to Key Management Personnel Compensations paid to Key Management Personnel during the year are as below:Mr. P.R. Mishra (Ex-CEO) Rs.11,62,070.00Mr. S.C. Pattnayak (Ex- Designated CEO) Rs.2,01,024.00Mr. Abhijit Ghosh Dastidar (Officiating CEO) Rs.78,55,681.00Mr. Sudhir Sagar (Manager IT) Rs.72,18,221.00 In addition to above, furnished house is provided to all of them.

12. The company has taken term loan of Rs. 500000.00 thousand during the year from Rastriya Banijya Bank Ltd. against the security of its Government Bonds.

13. The company has filed tax returns up to F.Y. 2072-73. There is no demand of additional tax, fines or interest up to F/Y 2065/66. The tax authorities have reassessed tax of F/Y 2066/67, F/Y 2067/68, F.Y. 2068/69 and F.Y. 2069/70 and demanded the following additional Income Tax and TDS amount:

Financial Year

Date of Re-assessment

Income Tax Demand

TDS Demand

2066/67 2071.06.30 Rs.25,85,506.08 Rs.3,42,170.502067/68 2072.05.01 Rs.3,14,93,029.39 Rs.1,79,691.632068/69 2073.04.10 Rs.4,97,56,377.36 Rs.76,252.802069/70 2073.09.28 Rs.3,70,67,239.00 Rs.2,21,863.002070/71 2075.03.32 Rs.33,69,556.48 43,45,511.75

Total Rs. 12,42,71,708.31 Rs. 12,54,489.68

The Company is not satisfied with the re-assessment and has applied for administrative review against the above re-assessments made by the Large Taxpayer’s Office. Tax payable and advance tax for and after F/Y 2066/67 to F/Y 2073/74 is separately shown as payable and receivable respectively.

14. The company has not refunded any premium during the year.

15. The company has declared Vested Bonus up to 2073/074 which is applicable as interim bonus till date as follows:

ENDOWNMENT & JEEVAN ANAND POLICIES:TERM YEAR 5- 19 20- 24 25- and aboveBONUS RATE 61.00 65.00 75.00MONEY BACK POLICIES:TERM YEAR 15 20 25 BONUS RATE 61.00 62.00 63.00JEEVAN TARANG POLICIES:TERM YEAR 10 15 20 BONUS RATE 61.00 63.00 72.00Bonus rates are applicable for per thousand.


!^_ l9nf] aLdfz'Ns e'QmfgLdf lanDa z'Ns, aLdfn]vsf] lwtf]df k|bfg ul/g] shf{, clestf{ / sd{rf/LnfO{ k|bfg ul/Psf] shf{df sDkgLn] b]xfo adf]lhd Aofh b/ lgwf{/0f u/]sf] 5 .

l9n]f aLdfz'Ns e'QmfgLdf lanDj z'Nssf] Aofhb/ !)Ü k|ltaif{aLdfn]vsf] lwtf]df lbOg] shf{sf] Aofhb/ !)Ü k|ltaif{clestf{ shf{sf] Aofhb/ ^=% Ü—!)Ü k|ltaif{sd{rf/L shf{sf] Aofhb/ &Ü—(Ü k|ltaif{

!&_ ckn]vg x'g afFsL vr{sf] ljj/0f M;/sf/L lwtf]kqx¿df ul/Psf] nufgLnfO{ nfut d"No jf c+lst d'No dWo] 36Ldf n]vfÍg ul/Psf] 5 . c+lst d'No eGbf nfut d'No al9 ePsf] v08df a9L /sd -lk|ldod_ nfO{ ;f] ;/sf/L lwtf]kqsf] e'QmfgL cjlwleq k|To]s jif{ ;dfg'kflts ?kdf ckn]vg ul/Psf] 5 . h;nfO{ cg';"rL @& df b]vfOPsf] 5 .

!*_ r'Qmf k'FhLdf o; cf= a= lgDg adf]lhdsf] km/s ePsf] 5 . z]o/ k'FhL cf= a=sf] z'?df !),^(,$%#=!@% xhf/ af]g; z]o/ hf/L ul/Psf] @,^%,@@$=#&% xhf/s'n z]o/ k'FhL !#,#$,^&&=%)) xhf/ o; aif{;Dd e'QmfgL k|fKt x'g afFsL -Call in arrears_ / hkmt ul/Psf t/ k'gM lgisfzg gul/Psf z]o/ s'n r'Qmf k'FhLdf /x]sf] 5}g .

!(_ of] aif{ lnhxf]N8 ;DklQdf s'g} /sd ckn]vg ul/Psf] 5}g .

@)_ o; jif{ sDkgLsf] jf;nft aflx/sf] s'g} sf/f]af/ /x]sf] 5}g .

@!_ s/ M@!=! :yug s/ Mo; aif{sf] cGTo;Dddf sDkgLsf] gfkmf gf]S;fg lx;fadf :yug s/ ;DklQ afkt ?= ^),@%,(*!÷— /sd n]vfÍg ul/Psf] 5 . of] /sd lstfaL gfkmf / s/of]Uo gfkmfsf] ;dofGt/af6 x'g cfPsf] xf] h;sf] ljj/0f lgDgfg';f/ /x]sf] 5 .:yug s/ bfloTj / ;DklQsf u0fgfM

ljj/0f >fj0f !, @)&# sf] df}Hbft

o; aif{sf] /sd

cfiff9 #!, @)&$ sf] df}Hbft

:yug s/ ;DklQ -bfloTj_:fdo leGgtf af6 cfPsf] lx;fas_ l:y/ ;DklQ –$,@@,!#*_ -$,@),)$#_ –*,$@,!*!_v_ :yug vr{ -&,#!,)(*_ -@,*#,^^!_ -!),!$,&%(_u_ nufgL 15,44,446 #%,!!,**% 50,56,3313_ pkbfg÷ljbf

afktsf] /sd 6,48,379 21,78,212 28,26,591

v'b -bfloTj_ 10,39,589 49,86,392 60,25,981

16. The company has determined the interest rate on late premium payment, loans against insurance policies, agent’s and employee's loans as follows:

Interest Rate on late payment of Premium 10% p.a.Interest Rate on loans against Policies 10% p.a.Interest Rate on Agent's loans 6.5% to 10% p.a.Interest Rate on Employees loans 7% to 9% p.a.

17. Details of expenses written off:Premium paid on acquisition of government securities (Investment) is written off over the maturity period of investment. Amount to be written off is disclosed in annexure 27.

18. Change in share capital during the year is as bellow:Share capital in the beginning of the year 1,069,453.125

thousand.Issue of Bonus share 265,224.375 thousand.Total Share Capital 1,334,677.500 thousandThere are no calls in arrears and forfeited shares in the total paid up capital.

19. There is no amortization amount in leasehold property up to this year.

20. There are no off Balance sheet transactions in this financial year.

21. TAX21.1 Deferred Tax:The Company has recognized deferred tax assets amounting to Rs 60,25,981/- which resulted from the timing differences between the Book Profit and Tax Profit, up to current year ended Ashad 31,2074( July 15,2017 ) in Profit & Loss Account, the details of which is as under:

Particulars Balance as on Shrawan

1, 2073

Arising during

the year

Balance as at Ashad 31, 2074

Deferred Tax Assets (Liabilities)On account of timing difference in:a) Fixed assets (4,22,138) (4,20,043) (8,42,181)b) Deferred Expenditure (7,31,098) (2,83,661) (10,14,759)c) Investment 15,44,446 35,11,885 50,56,331d) Gratuity/ Leave

Encashment6,48,379 21,78,212 28,26,591

Net (Assets) 10,39,589 49,86,392 60,25,981


@!=@ lalto gfkmf / s/ of]Uo gfkmf larsf] lx;fa ldnfg ljj/0f /sd - ?=_ /sd - ?=_

cfo Joo lx;fjsf] art 7,41,15,71,490

hDdf: cfos/ Joj:yf 28,04,45,177 7,69,20,16,667 gfkmf gf]S;fg lx;fasf] gfkmf 13,49,73,897 ;dfof]lht s/ -:yug s/ + jt{dfg s/_

60,42,361 14,10,16,258

s/ clwsf] gfkmf 7,83,30,32,925

ljlTfo gfkmfdf cfos/ 1,95,82,58,231

cfos/ s/ adf]lhdsf] km/s

hLjg ladf sf]ifaf6 ;f/]sf] gfkmf

–9,37,07,483_

z]o/ nfef+; –24,47,570_x|f; –3,34,382_gf]S;fgLdf Joj:yf 33,77,476hLjg ladf sf]ifdf ;f/]sf] gfkmf

96,15,876

c;dfKt hf]lvd Joj:yf 10,55,26,456nufgL vl/bdf gf]S;fgL 12,39,576

;Dklt ljls|df gfkmf –86,132_

;Dklt ljls|df gf]S;fgL 468

s§L ug{ gkfpg] vr{ 1,32,708 :yug nufgL lk|ldod –8,13,347_ljdf z'Ns cfDbfgL 8,52,33,36,666 jfFsL bfjL Joj:yfdf kl/jt{g

–45,15,986_

bfjL km5f}{6 e'QmfgL –1,76,16,68,888_

v'b cfDbfgL 6,75,71,51,793

cfos/ ad]lhd 5'6 - -

6,75,71,51,793 –1,68,92,87,948_cfos/ ad]lhd km/s - –1,66,67,84,302_cfos/ ad]lhd v'b s/ - 29,14,73,930

cfo s/sf] Joj:yf - -cfo Joo lx;fa 28,04,45,177 - Gffkmf gf]S;fg lx;fa 1,10,28,753 29,14,73,930

km/s -

@@_ z]o/ nufgL gf]S;fgLsf] Joj:yf Mut aif{;Dd z]o/ nufgLdf gf]S;fgLsf] Joj:yf cGtu{t ?= ^&,!%,$!( ul/Psf]df o; aif{sf] cGt;Dd sltko z]o/sf] ahf/ d"No bf];|f] ahf/af6 lslgPsf] k/n d"No eGbf tn ePsf]n] ?= !,#%,)(,()! sf] yk Joj:yf ul/Psf] 5 . o; cfly{s aif{;Dd s'n z]o/ nufgL gf]S;fgL jfktsf] Joj:yf ?=@,)@,@%,#@@

21.2 Reconciliation between Financial profit and taxable profit:Particulars Amount Amount in '000

Surplus as per Revenue Account 7,411,571,490

Add:Provision for Income Tax 280,445,177 7,692,016,667

Profit as per Profit and Loss Account 134,973,897

Adjusted Tax(Current Tax+Deferred Tax)

6,042,361 141,016,258

Surplus/Profit before Tax 7,833,032,925

Income Tax as per Financial Surplus/Profit

1,958,258,231

Tax diffrences as per Income Tax

Profit recognized from Life Fund (93,707,483)Dividend from shares (2,447,570)Depreciation (334,382)

Repairs and Maintenance -

Provision for Loss 3,377,476

Ammortization -

Profit transferred to Revenue A/c 9,615,876

Provision for unexpired risk 105,526,456

Loss on purchase of investment 1,239,576

Profit from Disposal of Assets (86,132)

Loss from Disposal of Assets 468

Expenses Disallowed 132,708

Donation - Deferred Premium (813,347)Premiun Income 8,523,336,666 Change in provision for outstanding claim

(4,515,986)

Claims Paid (1,761,668,888) Net Income 6,757,151,793Allowed as per Income tax act -

6,757,151,793 (1,689,287,948)

Tax diffrences as per Income Tax - (1,666,784,302)

Net Tax as per Income Tax - 291,473,930

Income Tax Provision - - Revenue Account 280,445,177 - Profit and Loss Account 11,028,753 291,473,930 Diffrence (0)

22. Provision of Loss on Share Investment: Provision of loss on share investment was made for Rs 6,715,419 up to previous year and additional provision of Rs 13,509,901 has been during the year as market price of some shares at the year ended 2074 is lower than purchase price at time of share purchased on secondary market of Nepal Stock Exchange. The total accumulated provision of


ljlQo ljj/0fsf] cg';"rL @^ -s_ df b]vfOPsf] 5 . dflysf] Joj:yfdf g]kfn /fi6« a}+s4f/f ;d:ofu|:t 3f]lift ul/Psf] g]kfn z]o/ dfs]{6 / kmfOgfG; lnld6]8df ljut aif{df ul/Psf] nufgL klg ;dfj]z ul/Psf] 5 .

@#_ sd{rf/L cfjf; sf]if MsDkgLn] sd{rf/Lx¿nfO{ cfjf; shf{ pknAw u/fpg z'? u/]sf] sf/0fn] sd{rf/L af;:yfg sf]if v8f ul/Psf] 5}g .

@$_ sd{rf/L af]g; Joj:yf Msd{rf/Lx¿sf] nfuL s/ clwsf] gfkmfaf6 @ !)% af]g;sf] Aoj:yf ul/Psf] 5 .

@%_ dxf–ljklQ hu]8f MaLdf ;ldltsf] lgb]{zg adf]lhd o; aif{sf] gfkmf af6 afF8kmfF8sf] nfuL pknAw /sdsf] !)% dxfljklQ hu]8f sf]if /fVg' kg]{ Joj:yf cg';f/ hDdf ?= !,)!,&@*=#! xhf/ 5'§fofOPsf] 5 .

@^_ kF"hL;DaGwL k|lta4tf M 5}g .

@&_ k|lt z]o/ cfDbfgL Mk|lt z]o/ cfDbfgLsf] u0fgf ?=!)=!! ul/Psf] 5, ut aif{ k|lt z]o/ cfDbfgL ?= #)=)^ /x]sf] lyof] .

@*_ aLdf ;ldltsf] ldlt @)&%÷)&÷)^ sf] kqaf6 k|fKt lgb]{zg adf]lhd c;dfKt hf]lvd jfktsf] Joj:yf ¿= #$=! s/f]8 yk ul/Psf] 5 .

@(_ cl3Nnf] jif{sf] c+sx¿ cfjZostf cg';f/ k'gMjuL{s/0f tyf k'gM;d'lxs/0f ul/Psf] 5 / c++sx¿nfO{ lgs6td ?k}ofdf b]vfOPsf] 5 .

loss on share investment at the year ended of Rs 20,225,322 has been disclosed in schedule 26 (A) & 21 (B) of the financial statements.The above provision includes share investment in Nepal Share Market and Finance Limited as same was declared as problematic Financial Institution by Nepal Rastra Bank.

23. Staff Housing Fund:Since the Company has been extending housing loan to its employees, provision for staff housing fund has not been made.

24. Staff Bonus:Staff bonus has been provided during the year @10% on before tax profit.

25. Catastrophe Reserve: As per regulation of Beema Samiti 10% of distributable profit earned during the year has been appropriated as Catastrophe Reserve which amounts to Rs.101728.31 thousand.

26. Capital Commitment: There is no capital commitment.

27. Earnings Per share:The Basic earnings per share have been calculated as Rs.10.11 and previous year Rs.30.06

28. As per regulatory requirement of Beem Samiti vide letter dated 2075/07/06 an additional provisions of Rs. 34.1 crore has been made for Unexpired Risk Reserve.

29. Re-grouping:Previous year’s figures have been regrouped and rearranged, wherever necessary to make them comparable with the figures of current year and figures are shown in nearest Rupees.









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gf]6÷Note LIC’s Geographical Spread

Corporate OfficePO Box No: 219054th Floor, Star Mall, PutalisadakKathmandu, NepalPhone: 01-4012613, 4012614Fax: 977-1-4012615

KATHMANDU BRANCH1st Floor, Bhim Plaza NaxalKathmandu, NepalPhone: 01-4415951

BIRATNAGAR BRANCHBhanu Tole, Biratnagar-14, NepalPhone: 021-532772

POKHARA BRANCHPrithvi Chowk - Nagdunga, NepalPhone: 061-539191

NEPALGUNJ BRANCHDhombajhee-7, Nepolgunj, NepalPhone: 081-526047

BUTWAL BRANCHTraffic Chowk, Butwal-8, NepalPhone: 071-550392

BIRGUNJ BRANCHMain Road, Adarsha Nagar Chowk-15, Birgunj, NepalPhone: 051-522371

JANAKPUR BRANCHStation Rood, Janakpur, NepalPhone: 041-526384

DHANGADI BRANCH Dhangodi-3, Kailali, NepalPhone: 091-520802

MAHENDRANAGAR BRANCH Mohendranagar-4, Nepal Phone: 099-525304

BIRTAMOD BRANCHBhadropur Road, Birtamod-4 NepalPhone: 023-543404

NARAYANGHAT BRANCHPulchowk, Bharatpur, NepalPhone: 056-532501

LAHAN BRANCHLahan-8, Siraha, Nepal Phone: 033-561976

BHAKTAPUR BRANCHGatthaghar, Bhaktapur, Nepal Phone: 01-6635021

DANG BRANCHSahid Gate, Ghorahi, Dang, NepalPhone: 082-563190

LALITPUR BRANCHYappa Bhawan, Lalitpur, NepalPhone: 01-5009295

DAMAULI BRANCHVyas Municipality-10, Damauli, NepalPhone: 065-562507

BAGLUNG BRANCHMahendra Path, Baglung, NepalPhone: 068-522737

DADELDHURA BRANCHAmargadi Nagar Palika-5 Tuphandanda, Dadeldhura, Nepal Phone: 096-410053

GULMI BRANCHTamghas-1, Gulmi, Nepal Phone: 079-520748

TERHATHUM BRANCHMyaglung-1, Terhathum, Nepal Phone: 026-460725

DHARAN BRANCHChhata Chowk, Dharan-4, NepalPhone: 025-526459

GAUR BRANCHGaur, Ward No. 1, NepalPhone: 055-521501

HETAUDA BRANCHKanti Rajpath, Radha Krishna Bhowan, Hetauda, NepalPhone: 051-521055

MALANGWA BRANCH Malangwa-9, Nepal Phone: 046-521663

TAULIHAWA BRANCHKalika Tole, Taulihawa-3, NepalPhone: 076-560461

NAWALPARASI BRANCH Ram Gram Nagarpalika-2 Nawalparasi, Nepal Phone: 078-521030

TIKAPUR BRANCH1st Floor, Kishan Co-operative Bldg. Siddhartha Chowk, Tikapur-9, NepalPhone: 091-561362

WALING BRANCH Waling-3. Syanja. NepalPhone: 063-440653

JALESH WAR BRANCH Ji.Bi.Sa. Road, Jaleshwor-5Mahottari, Nepal Phone: 044-521175

SURKHET BRANCHBirendra chowk. Birendranagar-6Surkhet, NepalPhone: 083-523127

GORKHA BRANCHHaramtari, Gorkha-3, NepalPhone. 064-420190

RAJBIRAJ BRANCHMain Road, Ward No. 3, Rajbiraj, NepalPhone: 031-523818

CHABAHIL BRANCHChucchepati, Chabahil, Kathmandu, NepalPhone: 01-4481686

BANEPA BRANCHBanepa-7, Kabhrepalanchok, NepalPhone: 011-663549

NEW BANESHWOR BRANCHBlock AL, All in One Mart,New BaneshworKathmandu, NepalPhone: 01-4620328

KALANKI & FE BRANCH Kolanki-13, Kathmandu, NepalPhone: 01-4037477

ITAHARI BRANCHWard No. 6, Mahendra RajmargaItahari, NepalPhone: 025-582487













PALPA BRANCHSilkhan Tole-4, Palpa, NepalPhone. 075-521539

ILLAM BRANCHNikunj Path, Ward No. 7, Illam, NepalPhone: 027-521890

NUWAKOT BRANCHWard No. 4, Bidur NagarpalikaNuwakot, NepalPhone: 010-561905

BAITADI BRANCHDashrathchand Municipality-4, Gothalapani, Baitadi, NepalPhone: 095-520455

DAMAK BRANCHDamak-6, Jhapa, Nepal Phone: 023-580915

CHAINPUR BRANCHChainpur, Sankhuwasabha-7, NepalMob.: 9801222384

DHANKUTA BRANCHDhankuta Municipality-6, Dhankuta, NepalMob.: 9801222377

BARDIBAS BRANCHBardibas-1, Mahottari, NepalMob.: 9801222379

SINDHULI BRANCHSindhuli Kamalamai NP-6, Modi Bazar, NepalMob.: 9801222381

SIDDHARTHANAGAR BRANCH Airport Road-6, Galla Mandi Siddharthanagar, NepalMob.: 9801222383

BARDIYA BRANCHGulariya Municipality-8, NepalMob.: 9801222388

GAIGHAT BRANCHTriyuga NP-3, Udayapur, NepalMob.: 9801222378

NIJGADH BRANCH Nijgadh-7, Bara Mob.: 9801222385

KALAIYA BRANCHKalaiya Municipality-4 Nepal Mob.: 9801222391

DHADING BRANCH Dhading, Nepal Mob.: 9801222386

BESISAHAR BRANCH Bhimsensthan Municipality-7Mob.: 9801222389

BAHRABISE BRANCHBahrabise Municipality-7, NepalMob. 9801222387

PYUTHAN BRANCHPyuthan Municipality-2, Jumri, NepalMob.: 9801222382

TULSIPUR BRANCH Tulsipur-5 Gha, Nepal Mob.: 9801222379

SALYAN BRANCHSarad Municipality, Ward No. 1Shreenagar, NepalMob.. 9801222376

KOHALPUR BRANCHKohalpur Municipality-11, NepalMob.: 9801222380

LIC’s Geographical Spread

Corporate OfficePO Box No: 219054th Floor, Star Mall, PutalisadakKathmandu, NepalPhone: 01-4012613, 4012614Fax: 977-1-4012615

KATHMANDU BRANCH1st Floor, Bhim Plaza NaxalKathmandu, NepalPhone: 01-4415951

BIRATNAGAR BRANCHBhanu Tole, Biratnagar-14, NepalPhone: 021-532772

POKHARA BRANCHPrithvi Chowk - Nagdunga, NepalPhone: 061-539191

NEPALGUNJ BRANCHDhombajhee-7, Nepolgunj, NepalPhone: 081-526047

BUTWAL BRANCHTraffic Chowk, Butwal-8, NepalPhone: 071-550392

BIRGUNJ BRANCHMain Road, Adarsha Nagar Chowk-15, Birgunj, NepalPhone: 051-522371

JANAKPUR BRANCHStation Rood, Janakpur, NepalPhone: 041-526384

DHANGADI BRANCH Dhangodi-3, Kailali, NepalPhone: 091-520802

MAHENDRANAGAR BRANCH Mohendranagar-4, Nepal Phone: 099-525304

BIRTAMOD BRANCHBhadropur Road, Birtamod-4 NepalPhone: 023-543404

NARAYANGHAT BRANCHPulchowk, Bharatpur, NepalPhone: 056-532501

LAHAN BRANCHLahan-8, Siraha, Nepal Phone: 033-561976

BHAKTAPUR BRANCHGatthaghar, Bhaktapur, Nepal Phone: 01-6635021

DANG BRANCHSahid Gate, Ghorahi, Dang, NepalPhone: 082-563190

LALITPUR BRANCHYappa Bhawan, Lalitpur, NepalPhone: 01-5009295

DAMAULI BRANCHVyas Municipality-10, Damauli, NepalPhone: 065-562507

BAGLUNG BRANCHMahendra Path, Baglung, NepalPhone: 068-522737

DADELDHURA BRANCHAmargadi Nagar Palika-5 Tuphandanda, Dadeldhura, Nepal Phone: 096-410053

GULMI BRANCHTamghas-1, Gulmi, Nepal Phone: 079-520748

TERHATHUM BRANCHMyaglung-1, Terhathum, Nepal Phone: 026-460725

DHARAN BRANCHChhata Chowk, Dharan-4, NepalPhone: 025-526459

GAUR BRANCHGaur, Ward No. 1, NepalPhone: 055-521501

HETAUDA BRANCHKanti Rajpath, Radha Krishna Bhowan, Hetauda, NepalPhone: 051-521055

MALANGWA BRANCH Malangwa-9, Nepal Phone: 046-521663

TAULIHAWA BRANCHKalika Tole, Taulihawa-3, NepalPhone: 076-560461

























PALPA BRANCHSilkhan Tole-4, Palpa, NepalPhone. 075-521539

ILLAM BRANCHNikunj Path, Ward No. 7, Illam, NepalPhone: 027-521890

NUWAKOT BRANCHWard No. 4, Bidur NagarpalikaNuwakot, NepalPhone: 010-561905

BAITADI BRANCHDashrathchand Municipality-4, Gothalapani, Baitadi, NepalPhone: 095-520455

DAMAK BRANCHDamak-6, Jhapa, Nepal Phone: 023-580915

CHAINPUR BRANCHChainpur, Sankhuwasabha-7, NepalMob.: 9801222384

DHANKUTA BRANCHDhankuta Municipality-6, Dhankuta, NepalMob.: 9801222377

BARDIBAS BRANCHBardibas-1, Mahottari, NepalMob.: 9801222379

SINDHULI BRANCHSindhuli Kamalamai NP-6, Modi Bazar, NepalMob.: 9801222381

SIDDHARTHANAGAR BRANCH Airport Road-6, Galla Mandi Siddharthanagar, NepalMob.: 9801222383

BARDIYA BRANCHGulariya Municipality-8, NepalMob.: 9801222388

GAIGHAT BRANCHTriyuga NP-3, Udayapur, NepalMob.: 9801222378

NIJGADH BRANCH Nijgadh-7, Bara Mob.: 9801222385

KALAIYA BRANCHKalaiya Municipality-4 Nepal Mob.: 9801222391

DHADING BRANCH Dhading, Nepal Mob.: 9801222386

BESISAHAR BRANCH Bhimsensthan Municipality-7Mob.: 9801222389

BAHRABISE BRANCHBahrabise Municipality-7, NepalMob. 9801222387

PYUTHAN BRANCHPyuthan Municipality-2, Jumri, NepalMob.: 9801222382

TULSIPUR BRANCH Tulsipur-5 Gha, Nepal Mob.: 9801222379

SALYAN BRANCHSarad Municipality, Ward No. 1Shreenagar, NepalMob.. 9801222376

KOHALPUR BRANCHKohalpur Municipality-11, NepalMob.: 9801222380

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