fi6« lgdf{0fdf of]ubfg===

/fi6« lgdf{0fdf of]ubfg===nuftf/ bf];|f] jif{ klg g]kfn ;/sf/af6 pTs[i6 s/bftfsf] ?kdf ;Ddflgt sDkgL=== PncfO{;L g]kfn

kf“rf}+ /fli6«o s/ lbj; @)&# sf] cj;/df aLdf Joj;fotkm{ ;j}eGbf a9L cfos/ a'emfpg] sDkgLsf] ?kdf g]kfn ;/sf/sf dfggLo pk–k|wfg tyf cy{dGqLaf6 sDkgL ;Ddflgt x'b}===.

rf}+yf] /fli6«o s/ lbj; @)&@ sf] cj;/df aLdf Joj;fotkm{ ;j}eGbf a9L cfos/ a'emfpg] sDkgLsf] ?kdf g]kfn ;/sf/sf dfggLo cy{dGqLaf6 sDkgL ;Ddflgt x'b}=== .

Table ofContents

ljifo ;"rL

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 Message 4-6

;+rfns ;ldltsf] k|ltj]bg | Director's Report 7-14

n]vf k/LIfssf] k|ltj]bg | Auditor's Report 18-21

jf;nft | Balance Sheet 22-23

gfkmf gf]S;fg lx;fa | Profit & Loss Account) 24-25

PsLs[t cfo Joo lx;fa | Consolidated Reveunue Account 26-27

;fjlws hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Endowment Policy 28-29

clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Joo lx;fa Revenue Account of Anticipated Endowment Policy) 30-31

?kfGtl/t ;fjlws hLjg aLdfsf] cfo Joo lx;fa Revenue Account of Modified Endowment Policy) 32-33

cfhLjg hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Whole Life Polcy 34-35

DofbL hLjg aLdfsf] cfo Joo lx;fa | Revenue Account of Term Polciy 36-37

ljz]if DofbL hLjg aLdfsf] cfo Joo lx;fa Revenue Account of Special term policy 38-39

cGo hLjg aLdf -Psn aLdfz'Ns_ sf] cfo Joo lx;fa Reveneu Account of other policy (Single Premium) 40-41

cGo hLjg aLdf -a}b]lzs /f]huf/ Psn aLdfz'Ns_ sf] cfo Joo lx;fa Reveneu Account of other policy (O.E. Single Premium) 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 48-101

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

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

eujtL axfn, gS;fn, sf7df8f}+, g]kfn, kmf]g M )!–$$$#^!&

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

eujtL axfn, gS;fn, sf7df8f}+, g]kfn, kmf]g M )!–$$$#^!&

z]o/wgLsf] gfdM ========================================================================= z]o/ k|df0f–kqdf pNn]lvt kl/ro g+= ===================== z]o/ ;+Vof ======================= ldlt @)&$ ;fn h]i7 !( ut] z'qmaf/sf lbg x'g] nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] kGw|f}+ jflif{s ;fwf/0f ;efdf pkl:yt x'g hf/L ul/Psf] k|j]z–kq .

============================= ljgf]bs'df/ e'h]nz]o/wgLsf] b:tvt sDkgL ;lrj

b|i6Jo M -!_ z]o/wgL cfkm}n] vfnL sf]i7x? eg'{xf]nf . -@_ ;ef sIfdf k|j]z ug{ of] k|j]z–kq k|:t't ug'{ clgjfo{ 5 .

>L ;+rfns ;ldlt,nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8eujtL axfn, gS;fn, sf7df8f}+ .dxfzo,

=================================== lhNnf ===================================== g=kf=÷uf=lj=;= ============================================= j8f g+= ============a:g] d÷xfdL ======================================================================================================== n] To; sDkgLsf] z]o/jfnsf] x}l;otn] @)&$ ;fn h]i7 !( ut] z'qmaf/sf lbg kGw|f}+ jflif{s ;fwf/0f ;efdf :jo+ pkl:yt eO{ 5nkmn tyf lg0f{odf ;xefuL x'g g;Sg] ePsf]n] pQm ;efdf efu lng tyf dtbfg ug{sf nflu ============================== lhNnf ========================= d=g=kf÷uf=lj=;= ======================== j8f g+= ============== a:g] To; sDkgLsf z]o/wgL >L ========================================= nfO{ d]/f]÷xfd|f] k|ltlgwL dgf]lgt u/L k7fPsf] 5'÷5f}+ .

"

k|j]z–kq

k|f]S;L–kmf/fd

skf]��{/��]��6 sfof{no, eujtLjxfn, gS;fn, sf7df08f}��kmf]��g M )!–$$$#^!^, )!–$$$#^!&, www.licnepal.com.np

!%cf}��+ jflif{s ;fwf/0f ;ef ;DaGwL ;"rgf

z]��o/��wgL dxfg'efjx¿,nfOkm OG:��of]��/��]��G; skf]��{/��]��zg -g]��kfn_ lnld6]��8sf]�� ;+rfns ;ldltsf]�� lg0f{o cg';f/�� o; sDkgLsf]�� !%cf}��+ jflif{s ;fwf/��0f

;ef lgDglnlvt ldlt, :��yfg /�� ;dodf b]��xfosf pNn]��lvt ljifox¿ pk/�� 5nkmn tyf lg0f{o ug{ j:��g]�� ePsf]�� x'“bf ;j}�� z]��o/��wgL dxfg'efjx¿sf]�� pkl:��yltsf nflu of]�� ;"rgf k|sflzt ul/��Psf]�� 5 .

-s_ ;ef x'g] ldlt, ;do / :yfg M

ldlt M @)&$ ;fn h]��i7 !( ut]�� z'qmjf/�� -tb\g';f/�� @ h'g, @)!&_;do M ljxfg (=)) ah]��af6 z'? ./��lhi6«]��zg M ljxfg *=#) af6 z'? .:��yfg M g]��kfn k|1f k|lti7fg, sdnfbL, sf7df08f}�� .

5nkmnsf ljifox¿ M

-v_ ;fwf/0f k|:tfjx¿ M

-!_ cWoIfåf/��f ;+rfns ;ldltsf]�� jflif{s k|ltj]��bg @)&@÷)&# k|:��t't u/��L cg'df]��bg ug]��{ .-@_ n]��vfk/��LIfssf]�� k|ltj]��bg ;lxt cf=j= @)&@÷)&# sf]�� jf;nft, cfo–Joo lx;fj /�� ;f]��lx cjlwsf]�� gub k|jfx

ljj/��0fdfly 5nkmn u/��L kfl/��t ug]��{ .-#_ n]��vfk/��LIf0f ;ldltsf]�� l;kmfl/��; adf]��lhd cf=j=@)&#÷)&$ sf]�� nflu n]��vfk/��LIfssf]�� lgo'lQm ug]��{ /�� lghsf]��

kfl/��>lds tf]��Sg]�� - la=s]��= cu|jfn P08 sDkgLsf rf6{8 PsfpG6]��G6 >L la= s]��= cu|jfn lgo'Qm x'g ;Sg'x'g]��5 _ .-$_ ;+rfns ;ldltaf6 k|:��tfljt !=#)%@^Ü gub nfef+; kfl/��t ug]��{ -af]��g; z]��o/��sf]�� s/�� k|of]��hgfy{_ .-%_ ;+:��yfks z]��o/��wgL ;d"xaf6 ;+rfns ;ldltdf k|ltlglwTj gof“ ;+rfnsx¿sf]�� gfd cg'df]��bg ug]��{ .

-u_ ljz]if k|:tfjx¿ M

-!_ ;+rfns ;ldltn]�� k|:��tfj u/��]�� adf]��lhd xfnsf]�� r'Qmf k"“hLsf]�� @$=*)Ü af]��g; z]��o/�� kfl/��t ug]��{ . ;fy}�� sDkgLsf]�� xfnsf]�� clws[t k"“hL, hf/��L k"“hL tyf r'Qmf k"“hL ?= !,)^,($,%#,!@% nfO{ a[l4 u/��L ?= !,##,$^,&&,%)) sfod ug]��{ k|:��tfj :��jLs[t ug]��{ . af]��g; z]��o/�� ljt/��0fkl5 sfod x'g cfpg]�� bzdnjkl5sf]�� c+snfO{ ;DalGwt z]��o/��wgLsf]�� gfddf kl5 ;dfof]��hg ug]��{ ul/�� oyfjt /��fVg]�� .

-@_ k"“hL a[l4 ;DaGwdf sDkgLsf]�� k|aGwkq /�� lgodfjnLdf cfjZos ;+zf]��wg ug]��{ k|:��tfj kfl/��t ug]��{ tyf lgodgsf/��L lgsfo -sDkgL /��lhi6«f/��sf]�� sfof{no, aLdf ;ldlt, g]��kfn lwtf]��kq af]��8{, cflb_ n]�� cfjZos ;'emfj jf lgb]��{zg lbPdf ;f]�� cg'?k cfjZos ;dfof]��hg ug{ ;+rfns ;ldltnfO{ clwsf/�� k|Tofof]��hg ug]��{ .

-#_ ;+:��yfut ;'zf;g ;DaGwL lgb]��{lzsf, @)&# adf]��lhd ;+rfns ;ldlt tyf pk;ldltsf]�� a}��7s eQf a[l4 ug]��{ af/��]�� .-$_ ;+:��yfut ;'zf;g ;DaGwL lgb]��{lzsf, @)&# sf]�� lgb]��{zg g+= !@-@_ adf]��lhd k|d'v sfo{sf/��L clws[tsf]�� kfl/��>lds af/��]�� .-#_ sDkgL P]��g sf]�� bkmf !)% -! u_ adf]��lhd cf=j= @)&@÷)&# df rGbf lzif{s cGtu{t ePsf]�� vr{ cg'df]��bg ug]��{ .

-3_ cWoIfsf]�� cg'dltn]�� cGo ljifox¿ .

cf1fn]��, sDkgL ;lrj

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

!= ;efdf efu lng OR5's z]��o/��wgL dxfg'efjx¿nfO{ ;ef x'g]�� lbg z]��o/��k|df0f–kq /�� cfˆgf]�� kl/��ro v'Ng]�� k|df0f

;fydf lnO{ cfpg' x'g cg'/��f]��w 5 .

@= ;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, eujtLjxfn, gS;fn, sf7df08f}��df

btf{ u/��fO;Sg' kg]��{5 .

#= gfafns jf ljlIfKt z]��o/��wgLsf]�� tkm{af6 sDkgLsf]�� z]��o/�� nut lstfadf ;+/��Ifssf]�� ?kdf gfd btf{ ePsf]�� JolQmn]��

;efdf efu lng, dtbfg ug{ jf k|ltlglw tf]��Sg kfpg]�� 5g\ .

$= ;+o'Qm?kdf z]��o/�� vl/��b ul/��Psf]�� cj:��yfdf nut lstfjdf klxn]�� gfd pNn]��v ePsf]�� JolQm cyjf ;j{;Ddtaf6

k|ltlgwL lgo'Qm ul/��Psf]�� Ps JolQmn]�� dfq ;efdf efu lng /�� dtbfg ug{ kfpg]�� 5g\ .

%= 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 ab/�� x'g]��5 .

^= Ps hgf z]��o/��wgLn]�� PseGbf a9LnfO{ k|ltlgwL -k|f]��S;L_ d's/��/�� u/��]��df k|ltlgwL -k|f]��S;L_ lbg]�� z]��o/��wgLn]�� cfkm'n]�� cl3

lbPsf]�� k|ltlgwL -k|f]��S;L_ ab/�� u/��]��sf]�� Joxf]��/��f :��ki6 pNn]��v u/��L 5'§}�� lgj]��bg lbO{ csf]��{ z]��o/��wgLnfO{ k|ltlgwL -k|f]��S;L_

lgo'Qm u/��]��df To;/��L lgo'Qm ePsf]�� k|ltlgwLn]�� ;efdf efu lng /�� dtbfg ug{ kfpg]��5 . o:��tf]�� cj:��yfdf cl3Nnf]��

k|ltlgwL -k|f]��S;L_:��jtM ab/�� ePsf]�� dflgg]��5 .

&= 5nkmnsf]�� ljifodWo]�� ljljw zLif{s cGtu{t 5nkmn ug{ OR5's z]��o/��wgLx¿n]�� ;ef x'g'eGbf & lbg cufj}��

5nkmnsf]�� ljifo sDkgL ;lrjdfkm{t lnlvt?kdf ;~rfns ;ldltsf]�� cWoIfnfO{ hfgsf/��L lbg'kg]��{5 .

*= z]��o/��wgLx¿n]�� JoQm u/��]��sf]�� dGtJo jf k|Zgx¿sf ;DjGwdf ;~rfns ;ldltsf tkm{af6 ;fd"lxs ?kn]�� pQ/�� lbOg]��5 .

(= sDkgLsf]�� z]��o/�� bflvn vf/��]��hsf]�� sfd @)&$÷)@÷)% b]��lv @)&$÷)@÷!( ut]�� ;Dd jGb /��xg]�� 5 . z]��o/�� bflvn

vf/��]��h sfo{ aGb ug]��{ ;"rgf ldlt @)&$÷)!÷@( ut]��sf]�� cleofg /��fli6«o b}��lgsdf k|sflzt ul/��Psf]�� 5 .

!)= ;fwf/��0f ;ef ;DaGwdf yk hfgsf/��L cfjZos k/��]��df sfof{no ;doleq aLdssf]�� skf]�� {/�� ]��6 sfof{no

eujtLjxfn, gS;fn, sf7df08f}��df ;Dks{ /��fVg ;d]��t cg'/��f]��w ul/��G5 .

!!= ;'/��Iffsf]�� b[li6sf]��0fn]�� z]��o/��wgL dxfg'efjx¿ ;ef:��yndf cfp‘bf emf]��nf -Aofu_ h:��tf j:��t'x¿ glnO{ cfpg' x'g

cg'/��f]��w ul/��G5 . cfjZos 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 .

gf]��6 M cf=a= @)&@÷)&# sf]�� jflif{s ljj/��0f, ;+rfns ;ldltsf]�� k|ltj]��bg /�� n]��vfk/��LIfssf]�� k|ltj]��bg z]��o/��wgLx¿n]�� o;

skf]��{/��]��zgsf]�� skf]��{/��]��6 sfof{no, eujtLjxfn, gS;fn, sf7df08f}��df cfO{ lg/��LIf0f ug{;Sg]�� Joxf]��/��f ;"lrt ul/��G5 .

CORPORATE INFORMATION

Registered Office - Kathmandu Metropolitan City

Kathmandu, Nepal

Corporate Office - Bhagwati Bahal, Naxal, P.O.Box:21905,

Kathmandu, Nepal

Principal Activities - Life Insurance Business

Off. Chief Executive Officer - Mr. A. G. Dastidar

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 House

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

1

>L ljho s'df/� zdf{n]� ef/�tLo hLjg aLdf lgud -PncfO{;L_ df ;g\ !(*! b]�lv clws[t:�t/�af6 ;]�jf cf/�De ul/� aLdf, dfs]�{l6Ë /� ljQ If]�qdf #^ jif{eGbf a9Lsf]� sfof{g'ej ;+ufNg' ePsf]� 5 . pxf“n]� !^ ;]�K6]�Da/� @)!^ b]�lv lgudsf]� sfo{sf/�L cWoIfsf]� lhDd]�jf/�L ;dfln/�xg' ePsf]� 5 . sfo{sf/�L cWoIf x'g'eGbf cl3 pxf“ lgudsf]� k|aGw lgb]�{zs tyf PncfO{;L xfplhË kmfOgfG; lnld6]�8sf]� l;O{cf]� x'g'x'GYof]� . >L zdf{n]� lj1fg ljifodf :�gftsf]�Q/� cWoog k'/�f ug'{ ePsf]� 5 . pxf“sf]� ljz]�if1tfsf]� If]�qx¿ Business Strategy, Business Development,

Processes and Systems, Leadership Development, Branding & Product Development tyf Risk

Mitigation & Compliance /�x]�sf 5g\ .

>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 .

>LdtL piff ;f+ujfg ;g\ @# d]� @)!^ af6 k|df]�6/� ;d"xsf]�tkm{af6 8fO/�]�S6/�sf]�?kdf k|ltlglwTj ul/�/�xg' ePsf]� 5 . pxf“n]� cy{zf:�qdf :�gftsf]�Q/� /� dfgj>f]�t Joj:�yfkgdf kf]�i6 u|fh'P6 pkflw xfl;n ug'{ ePsf]� 5 . >LdtL ;f+ujfg ;g\ ! gf]�e]�Da/� @)!# b]�lv ef/�tLo hLjg aLdf lgudsf]� k|aGw lgb]�{zssf]�?kdf lhDd]�jf/�L lgaf{x ul/�/�xg' ePsf]� 5 . pxf“n]� ;g\ !(*! df clws[t txaf6 PncfO{;Ldf ;]�jf z'?jft ul/� aLdf, dfs]�{l6Ë /� ljQ If]�qdf #^ jif{eGbf a9Lsf]� sfof{g'ej lng' ePsf]� 5 . >LdtL ;f+ujfg ;g\ @)!% sf]� Forbes List df 50 Most Powerful

Business Women in Asia df kg'{ePsf]� lyof]� . >LdtL ;f+ujfg Institute of Public Enterprise n]� Women

Leadership Award, CMO Asia åf/�f Brand Slam Leadership Award/Top Rankers Management

Consultants åf/�f Women Leadership Role Model Award af6 k'/�:�s[t x'g' ePsf]� 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 jL= s]= zdf{, cWoIfcWoIf, ef/tLo hLjg aLdf lgudV.K. Sharma, ChairmanChairman, LIC of India

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

>LdtL piff ;f+ujfg, ;+rfnsk|aGw lgb]{zs, ef/tLo hLjg aLdf lgudUsha Sangwan, DirectorManaging Director, 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.

2

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

>L lj=s]= pGx]Ns/k|:tfljt k|d'v sfo{sf/L clws[tB.K. UnhelkarChief Executive Officer (Proposed)

>L ;'wL/ ;fu/k|aGws -cfO{=l6=_

Sudhir SagarManager (IT)

>L >Lv08 >]i7;xfos k|aGws

Shreekhanda ShresthaAssistant Manager

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

Mrs.Sirjana NepalAssistant Manager

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

Bipin Kumar LalAssistant Manager

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 clelht 3f]�if bl:�tbf/�sf]� hLjg aLdf If]�qdf @^ jif{ nfdf]� sfof{g'ej /�x]�sf]� 5 . pxf“n]� ef}�ltszf:�qdf :�gftsf]�kflw -cgz{_ u/�]�kl5 PncfO{;L ckm Ol08ofdf clws[t txaf6 ;]�jf z'? ug'{ eof]� . PncfO{;L ckm Ol08ofsf]� nflu Pan-

India Computer Package lgdf{0f ubf{ >L 3f]�if bl:�tbf/� k|f]�u|fd/� l6dsf]� dxTjk"0f{ ;b:�osf]�?kdf x'g'x'GYof]� . To;}�ul/�, pxf“n]� ax/�fO{gl:�yt PncfO{;L OG6/�g]�zgndf k|aGws -k|zf;g_ sf]� lhDd]�jf/�L ;DxfNg' eof]� . >L 3f]�if bl:�tbf/�n]� ef/�tsf]� sf]�nsQfl:�yt ;j}�eGbf 7"nf]� zfvf sfof{nodf l;lgo/� a|fGr Dofg]�h/�, To;kl5 Kolkata Metroplitan

Division–I sf]� Dofg]�h/� -;]�N;_, skf]�{/�]�6 clkm;sf]� HR (Personnel) Department / LIC CSL, New Delhi sf]� gfoa dxfk|aGwssf]�?kdf sfo{ ul/� cg'ej ;+ufNg' ePsf]� 5 .

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

>L clelht 3f]if bl:tbf/, ;+rfnssf=d'= k|d'v sfo{sf/L clws[tAbhijit Ghosh Dastidar, DirectorDirector/Off. Chief Executive Officer

>L clelht 3f]if bl:tbf/sf=d'= k|d'v sfo{sf/L clws[tAbhijit Ghosh DastidarOff. Chief Executive Officer

;+rfns ;ldltBoard of Director's

3

!%cf}+ jflif{s k|ltj]bg

4

Dear Shareholders, Ladies and Gentlemen,

Greetings to you from entire LIC family. On behalf of the Board of Directors of Life Insurance Corporation (Nepal) Limited, I would like to welcome you all to this 15th Annual General Meeting in Kathmandu and am delighted to present to you a brief report about activities and major accomplishments achieved during the year 2015/16.

Here at Life Insurance Corporation (Nepal) Limited, we have a great team with us, highly experienced and dedicated professionals who I believe will be the core of our success. We do not compromise on the protection of our customers. Your Company has shown the capabilities across products, customer services and markets. Life Insurance Corporation (Nepal) Limited’s strategy is always to offer quality products and service to the people of Nepal and to give the customers the peace of mind, which enables them to focus on their families, their businesses and their priorities. We understand the challenges of this business very well and we approach it on providing insurance solutions to the customers.

cfb/0fLo z]o/wgL dxfg'efjx¿, dlxnf tyf ;Hhga[Gb Û

;j{k|yd ;d:��t PncfO{;L kl/��jf/��sf]�� tkm{af6 ;a}��nfO{ clejfbg .

PncfO{;L g]��kfnsf]�� ;+rfns ;ldltsf]�� cWoIfsf]��?kdf oxf“x¿nfO{ o;

!%cf}��+ jflif{s ;fwf/��0f ;efdf :��jfut ug{ rfxG5' ;fy}�� cf=a= @)&@÷&#

sf]�� jflif{s ljlQo ljj/��0fx¿ ;+lIfKt?kdf pNn]��v ug{ kfpbf xif{sf]�� dx;';

ul/��/��x]��sf]�� 5 .

PncfO{;L g]��kfndf xfdLx¿;“u aLdf ljifodf cg'ejL, bIf, nuglzn Pj+

Joj;flos l6d /��x]��sf]�� 5 h;nfO{ d xfd|f]�� ;kmntf k|flKtsf]�� s8Lsf]��?kdf

lng]�� ub{5' . xfdL ;b}��j xfd|f u|fxsx¿sf]�� ;]��jf /�� ;+/��If0fdf Vofn ub{5f}�� .

tkfO{x¿sf]�� o; aLdsn]�� gof‘ aLdf of]��hgfx¿, u|fxs ;]��jf /�� aLdf ahf/��df

cfkm\gf]�� pTs[i6 bIftf k|:��t't ul/��;s]��sf]�� 5 . PncfO{;L g]��kfnsf]�� p2]��Zo g}��

g]��kfnL hg;d'bfonfO{ /��fd|f]�� aLdf of]��hgf Pj+ ;]��jf k|:��t't ug]��{ /�� cfkm\gf

u|fxsx¿nfO{ dfgl;s zflGt k|bfg ug]��{ /��x]��sf]�� 5 h;af6 pxf“x¿nfO{ cfkm\

gf]�� kl/��jf/��, Joj;fo /�� cGo k|fyldstfsf sfo{x¿ ;DkGg ug{ ;Ifdtf

ldnf]��;\ . xfdLn]�� ahf/��df ljBdfg aLdf ;DaGwL r'gf}��tLx¿ a'em]��sf 5f}��+ /��

cWoIfHo"af6 k|:t't

k|ltj]bg

Chairman's

MESSAGE for 15th Annual General Meeting

>L jL= s]= zdf{cWoIfcWoIf, ef/tLo hLjg aLdf lgud

V.K. SharmaChairmanChairman, LIC of India

15 th Annual Report

5

u|fxsx¿nfO{ lbg' kg]��{ aLdf ;DaGwL ;]��jfx¿df gof“ k|ljlw /�� tl/��sfx¿

cjnDjg ul/��/��x]��sf 5f}�� .

cf=j= @)&@÷&# sf]�� cfly{s lqmofsnfk dGb ultdf rn]��tf klg o;

aLdsn]�� ljljw zLif{sx¿df /��fd|f]�� k|ult u/��]��sf]�� b]��Vg ;Sb5f}�� . pQm aif{df

o; aLdsn]�� s"n !,$^,&!# j6f gof‘ aLdfn]��vx¿ laqmL u/��L k|yd

aLdfz"Ns cfDbfgL afkt ?= @@^=%@ s/��f]��8 cfh{g ug{ ;kmn ePsf]��

;xif{ hfgsf/��L u/��fpg rfxG5' . ut aif{sf]�� t'ngfdf cf=a= @)&@÷&# df

sDkgLn]�� k|yd aLdfz"Ns cfh{gdf @$=%@Ü sf]�� a[l4b/�� xfl;n ug{ ;kmn

ePsf]�� 5 . pQm jif{sf]�� lgoldt gof‘ hLjg aLdfn]��v laqmL cGtu{t o;

aLdsn]�� g]��kfnsf]�� s"n hLjg aLdf Jofkf/��sf]�� !#=)&Ü aLdfn]��v ;+Vofdf

/�� @!=(&Ü k|yd aLdfz"Ns cfh{gdf ahf/�� lx:��;f lng ;kmn ePsf]��

;xif{ hfgsf/��L u/��fpg rfxG5' . To:��t}��ul/��, cf=j= @)&@÷&# ;Dddf

sDkgLn]�� hLjg aLdf sf]��ifdf ?= @,^$( s/��f]��8 /��sd hDdf ub}��{ Pp6f gof‘

prfO{ sfod ug{ ;kmn ePsf]�� 5 . ut aif{sf]�� t'ngfdf o; aif{ hLjg

aLdf sf]��ifdf #)=*)Ü /�� s"n nufgLtkm{ #!=&@Ü sf]�� a[l4b/�� /��x]��sf]�� 5 .

nufgLaf6 k|fKt x'g]�� cfDbfgLdf sDkgLn]�� o; aif{ @@=^)Ü sf]�� a[l4b/��

xfl;n u/��]��sf]�� 5 . sDkgLn]�� @)&# cfiff9 d;fGt;Dddf s"n ^,@&,@^^

;lqmo aLdfn]��vx¿nfO{ ;]��jf k|bfg u/��]��sf]�� lyof]�� . o; aLdssf]�� ljut !%

jif{sf]�� rqmjtL{ jflif{s a[l4b/�� @%=^)Ü /��x]��sf]�� 5 . To;}��u/��L, xfdLn]�� rfn'

cf=a= @)&#÷&$ sf]�� cGTo;Dddf !,&%,))) gof“ aLdfn]��vx¿ laqmL u/��L

k|yd aLdfz"Ns afkt ?= @ ca{ *% s/��f]��8 /��sd cfh{g ug]��{ dxTjsf+IfL

nIo lnPsf 5f}��+ .

o; aLdssf]�� 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

?= #@=!$ s/��f]��8 a/��fa/��sf]�� /��sd 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"‘hLsf]�� @^=!)%#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‘"hL, hf/��L k‘"hL /�� r'Qmf k‘"hL -;j}��df_ nfO{

a[l4 u/��L ?= !,##,$^,&&,%)) k'/��\ofpg ;d]��t k|:��tfj k]��z u/��]��sf 5f}�� .

o; aLdsn]�� 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]�� 5 . ((Ü tL bfaLx¿ aLdf lgodfjnLsf]�� Dofbleq}�� e'Qmfg ul/��Psf]��

tYon]�� ;f]�� pknlJwdf cem ;'uGw ylkPsf]�� 5 . cf=a= @)&@÷&# df

aLdsn]�� s"n bfaL e'QmfgL afkt ?= !@=*( s/��f]��8 k|bfg u/��]��sf]�� ;xif{

hfgsf/��L u/��fpg rfxG5' . cfhsf]�� ldlt;Dddf #% 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 5f}��+ . of]�� jif{ klg sDkgLsf]��]�� pkl:��yltnfO{

b]��zsf]�� cGo efux¿df k'/��\ofpg]�� nIo lnPsf 5f}��+ t/�� lj:��tf/�� ubf{ a}��1flgs

/�� sd vlr{nf]�� t/��LsfnfO{ cjnDag ul/��g]�� 5 .

g]��kfnsf]�� hLjg aLdf pBf]��udf cfO{=P;=cf]��= k|dfl0fs/��0f ())!M@))* k|fKt

Despite the subdued economic activity in the year 2015/16, we witnessed the Company showing all round growth in various financial parameters. It is my pleasure to report to you that Life Insurance Corporation (Nepal) Limited has been able to collect Rs. 2265.20 million as First Premium Income by selling 146713 Policies in the financial year 2015/16. In terms of first premium collected, the Company showed a growth of 24.52%. In the market share in Nepal, we have achieved 13.07% in NoP & 21.97.% in FPI in Regular new business. Similarly, Life Fund of the Company grew to a new height of Rs 26.49 billion at the end of the fiscal. There has been a growth of 30.80% in life fund while the total investments grew by 31.72% in the year. The income from investments has risen at 22.60% in the fiscal. As at end of the fiscal, we have serviced 6,27,266 policies. The Average Annual Growth Rate of business over the last 15 years stands at 25.60%. Accordingly, we have taken a budget to procure 1,75,000 new policies and to collect Rs. 2.85 billion as first premium income in the year 2016/17.

The Company's Actuarial Valuations for 2015/16 (from Shrawan 1, 2072 to Ashaad end, 2073) has been approved. After the Valuation, the Company has shown a net profit of Rs. 321.435 million under Shareholders Account. The Board of Directors has proposed 26.1053 % of our paid up capital as dividends out of this profit and the same will be apportioned in 24.80% as bonus shares, 1.3053 % as cash dividends for adjustment against tax liabilities on dividends so declared to our valued shareholders. The Board has also proposed to increase the Authorized Capital, Issued Capital & Paid-up Capital of the Company to Rs. 1334.6775 Million.

Again, your Company has set benchmarks for best servicing standards in the industry when it achieved zero outstanding in maturity, survival benefit and death claims. The fact that 99% of these claims have been settled before the due date adds more shine to this achievement. Altogether the Company paid over Rs. 128.92 million as claim payments in the fiscal. As on date, the Company delivers its products and services through 35 outlets manned by 136 full-time employees and 34,500 agents across the entire nation. This year too, we hope to increase our presence even in farther areas of the country keeping financial viability in mind.

The crowning glory of all has been the ISO 9001:2008 certification received by the Company making it the first and only Life Insurance Company in Nepal since 2068 B.S. and the same is renewed this year too, 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 also as a strong vote of confidence in our company. Your company has

Chairman's MESSAGEcWoIfHo"af6 k|:t't k|ltj]bg


6

Chairman's MESSAGE

ug]��{ klxnf]�� Pj+ Ps dfq hLjg aLdf sDkgLsf]�� tfh cem}�� ;'/��lIft /��fVg

;kmn ePsf 5f}�� /�� la=;+= @)^* df k|fKt u/��]��sf]�� of]�� k|dfl0fs/��0f rfn' cf=a=

sf]�� nflu klg ;kmntfk'j{s gjLs/��0f ePsf]�� 5 h;af6 o; sDkgLn]��

cGt/��f{li6«o Joj;flos dfkb08nfO{ cjnDag u/��]��sf]�� k|i6 kfb{5 . cfw'lgs

;"rgf k|ljlwsf]�� k|of]��u ub}��{ PncfO{;L g]��kfnn]�� cfkm\gf u|fxsx¿nfO{ l56f]��

/�� ;lhnf]�� ;]��jf pknAw u/��fpb}�� cfPsf]�� ;xif{ hfgsf/��L u/��fpg rfxG5' .

clxn]�� z]��o/�� ahf/��df o; aLdssf]�� z]��o/�� d"No ;s/��fTds /��xg'nfO{ cfd

hg;d'bfon]�� o; aLdsk|lt 7"nf]�� ljZjf; /�� e/��f]��;f /��fv]��sf]�� 5g\ eGg]�� ?kdf

lnPsf]�� 5' . tkfO{x¿sf]�� o; aLdsnfO{ g]��kfn ;/��sf/��n]�� kf“rf}��+ /��fli6«o s/��

lbj; @)&# sf]�� cj;/��df aLdf Joj;fo cGtu{t cf=a= @)&!÷&@ df

…�;j}��eGbf a9L cfos/�� bflvnf ug]��{Ú� sDkgLsf]��?kdf nuftf/�� bf]��;|f]�� k6s

;Ddflgt u/��]��sf]�� ;xif{ hfgsf/��L u/��fpg rfxG5' . sDkgLsf]�� sfo{;Dkfbgsf]��

lj:��t[t ljj/��0f ;+rfns ;ldltsf]�� k|ltj]��bgdf 5'§]��}�� lbOPsf]�� 5 .

lg/��Gt/�� ;xof]��u, ;+/��IfsTj /�� z'e]��R5f k|bfg ug]��{ ;j}�� z]��o/��wgL /��

u|fxsx¿nfO{ ;+rfns ;ldltsf]��tkm{af6 d s[t1tf 1fkg ug{ rfxG5' .

To;}�� u/��L, 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/��¨ ln= /�� cGo ;/��sf/��L ljefux¿nfO{ pxf“x¿af6 k|fKt

lg/��Gt/�� ;xof]��u /�� dfu{ lgb{]��zgsf nflu cfef/�� 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 .

g]��kfndf o; aLdssf]�� cWoIf eO{ lqmofzLn tyf h'emf? ;+rfns

dxf]��box¿, sd{rf/��Lx¿ /�� dfs]��{l6¨ lkmN8kmf]��;{;“u sfo{ ug{ kfpbf cToGt

uj{sf]�� cg'e"lt ub{5' . d pxf“x¿sf]�� Joj;flos k|lta4tf, cfrf/��0f /��

u|fxs ;]��jfk|ltsf]�� pbfx/��0fLo sfo{;Dkfbgsf]�� k|;+zf ug{ rfxG5' . t;y{,

cfkm\gf egfO{x¿ ;Sg'cl3, d pxf“x¿ ;j}��k|lt s[t1tf JoQm ug{ rfxG5' .

cfb/��0fLo dlxnf tyf ;Hhga[Gb, o; ul/��dfdo ;efdf oxf‘x¿nfO{ k'gM

xfl{b{s :��jfut ub}��{ cfh xfdLx¿nfO{ k|bfg ug'{ ePsf]�� ;do /�� ;xeflutfsf]��

nflu w]��/��}�� w]��/��}�� wGojfb .

ljho s'df/�� zdf{cWoIf

also been honoured second time in a row with the title of 'highest tax payer company' amongst insurance companies of Nepal for the year 2071/72 by Government of Nepal on the occasion of 5th National Tax Day Celebration' 2073. Detailed review of the Company's performances is placed separately in the report of the Board of Directors.

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, 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.

I am proud to lead the Company as its Chairman and work closely with vibrant members of Board, Staffs and marketing field force. Their commitment to professionalism, ethics, and the highest ideals of customer service is something that I find admirable. So, before I conclude my remarks, I would like to thank them.

Ladies and Gentlemen, once again I extend a warm welcome to you all and thank you very much for your time and attention. Vijay Kumar SharmaChairman

cWoIfHo"af6 k|:t't k|ltj]bg

15 th Annual Report

7

Respected Shareholders, Ladies and Gentlemen!

We, the Board of Directors, are delighted to welcome all the shareholders present in this 15th Annual General Meeting of Life Insurance Corporation (Nepal) Ltd.

We hope that you have all gone through the Audited Financial Statements of the Company as at the end of Ashar, 2073. We now present the report of the Board of Directors for the fiscal year 2072/73 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 Nepal.

Economic ScenarioEconomic activity remained subdued in 2015/16. However, macroeconomic stability was intact. Government capital spending and the private sector activities were sluggish owing to disturbances in the southern border along with supply disruptions. Additionally, the agriculture sector did not expand as expected on account of unfavorable weather; tourism sector and foreign remittances inflow were also average throughout the year. According to the preliminary estimates of the Central Bureau of Statistics, the real GDP grew only by 0.77% with the inflation increased by 9.7%. The banking system experienced excess liquidity during the year, stock market moved on bullish way and real estate performed below the normal trend. The Nepalese currency remained slightly weaker against the USD and other convertible currencies in the year.

Despite all these adverse situations, the Company has been able to show 24.52% growth in the first premium income, 30.80% growth in total life fund, 31.72% growth in investments and 22.60% growth in income from investments in the fiscal year 2072/73. 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 6,27,266 policies in its books as at 31st Ashad 2073.

First Premium Income

We are happy to inform you that the Company could register 24.52% growth in FPI as seen above in the just ended Financial Year. The

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/�wgL dxfg'efjx¿nfO{ ;+rfns ;ldltsf]�tkm{af6 xflb{s clejfbg Pj+ :�jfut ug{ rfxG5f}� .

z]�o/�wgL dxfg'efjx¿n]� sDkgLsf]� n]�vfk/�LIf0f ePsf]� ljlQo ljj/�0f cWoog ul/�;Sg' eof]� eGg]� ljZjf;sf ;fy xfdL oxf‘x¿ ;dIf cfly{s aif{ @)&@÷&# 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[iocf=a= @)&@÷&# sf]� cfly{s lqmofsnfk cfzftLt /�xg ;s]�g . tyflk, ;dli6ut?kdf cy{tGq l:�y/� lyof]� . g]�kfnsf]� blIf0fL l;dfgfdf ePsf]� cj/�f]�w /� cfk"lt{ ;d:�ofsf]� sf/�0f ;/�sf/�L k"FhLut vr{ /� lglhIf]�qsf]� ultljlw ;':�t /�xof]� . To:�t}�, k|lts"n df}�;dsf sf/�0f s[lifIf]�q km:�6fpg ;s]�g eg]� ko{6g /� a}�b]�lzs /�f]�huf/�Laf6 aif{e/� ;fdfGotM cf}�ift sdfO{ ePsf]� b]�lvof]� . s]�lGb|o tYofÍ ljefusf]� k|f/�lDes cg'dfg ljj/�0f cg';f/� jf:�tljs lhl8lk )=&&Ü n]� /� dxËL (=&)Ü n]� a9]�sf]� lyof]� . aif{e/� a}�sLË If]�qdf cTolws t/�ntf sfod /�xof]�, z]�o/�ahf/� cTolws a9\of]� /� 3/�hUuf Joj;fo ck]�Iffs[t x'g ;s]�g . o; aif{ cd]�l/�sL 8n/� /� cGo ljb]�zL d'b|fsf]� t'ngfdf g]�kfnL ?k}�of sdhf]�/� b]�lvg uof]� .

plNnlvt kl/�l:�yltsf]� afah'b klg cf=a= @)&@÷&# df o; sDkgLn]� 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}�+ . pTs[i6 ljlQo gLlt, sd{rf/�L tyf clestf{x¿sf]� d]�xgt ;fy}� cfd gful/�sx¿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;Fu @)&# cfiff9 d;fGt;Dddf s"n ;lqmo hLjg aLdfn]�vsf]� ;+Vof ^,@&,@^^ /�x]�sf]� ;xif{ hfgsf/�L u/�fpg rfxG5f}�+ .

k|yd aLdfz"Ns cfDbfgL

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

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S

REPORT for 15th Annual General Meeting

Year 2068/69 2069/70 2070/71 2071/72 2072/73

No of Policy 59098 65022 91845 149796 146713

Year 2068/69 2069/70 2070/71 2071/72 2072/73

FPI(In Millions) 844.24 918.94 1283.51 1819.18 2265.20


8

?= !%,$$).– /�x]�sf]� 5 . sDkgLn]� cf=a= @)&@÷&# df s"n aLdf z'Ns afkt ?= &,)&=)! s/�f]�8 /�sd ;+sng ug{ ;kmn ePsf]� ;xif{ hfgsf/�L u/�fpg rfxG5f}� . ljut ^ aif{df klxnf]� k6s sDkgLn]�]� k|yd aLdfz'Ns cfh{gsf]� nIo o; cf=a=df k|fKt ug{ ;s]�sf]� hfgsf/�L u/�fpg rfxG5f}� .

rfn' aif{sf]�� pknlJw M -@)&$ ;fn a}zfv !& ;Ddsf]�� _

b]�zsf]� /�fhg}�lts Pj+ cfly{s If]�q ck]�Iffs[t g/�x]�tf klg dflysf]� cf‘s8fn]� rfn' cf=a= @)&#÷&$ df aLdfn]�v ;+Vof /� k|yd aLdfz'Ns cfDbfgL b'a}�df /�fd|f]� a[l4 b]�Vg ;lsG5 . sDkgLsf]� of]� Joj;flos a[l4b/� cfufld dlxgfx¿df cem /�fd|f]� eP/� hfg]�df xfdL ljZj:�t 5f}�+ .

Jofkf/ ;+rfng kl/b[ioxfdL b]�ze/� hDdf #% zfvf sfof{nox¿ :�yfkgf u/�L cfkm\gf]� Joj;fo ;+rfng ul/�/�x]�sf 5f}� . @)&# cfiff9 d;fGtsf]� clen]�v cg';f/� hLjg aLdf If]�qdf bIf Pj+ cg'ejL @ ef/�tLo -PncfO{;L ckm Ol08ofaf6_ /� af‘sL ;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;‘u ;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 ;ldltsf]� cWoIf >L P;= s]�= /�f‘osf]� :�yfgdf >L lj=s]�= zdf{ /� ;+rfns >L P;=;L= k6gfos sf]� :�yfgdf sf=d" k|d'v sfosf/�L clws[t >L clelht 3f]�if bl:�tbf/� kb:�yflkt x'g' ePsf]� 5 . To;}�u/�L, k|:�tfljt k|d'v sfo{sf/�L clws[t >L lj=s]�= pGx]�Ns/�nfO{ ;~rfnssf]� ?kdf lgo'Qm ug]�{ sfd k|s[ofdf /�x]�sf]� 5 .

sf/f]af/nfO{ c;/ kfg]{ tTjx¿aif{e/�L g}� bL3{sflng nufgLsf]� cj;/� k|fKt x'g sl7g /�x\of]� eg]� cNksflng Aofhb/� klg Go'g g}� /�x\of]� . To:�tf]� kl/�l:�yltdf klg, sDkgLn]� nufgLaf6 ahf/�df pknAw pRr Jofhb/�sf]� k"0f{ kmfObf lng ;dy{ ePsf]� 5 eg]� w]�/�}�h;f]� nufgL pknAw eP;Dd bL3{sflng cjlwsf nflu ul/�Psf 5g\ . aif{sf]� cGTolt/�, g]�kfnsf]� z]�o/� ahf/�df ;s/�fTds ;'rsf+sx¿ b]�lvPsf lyP . o; sDkgLsf]� @)&# cfiff9 d;fGt;Ddsf]� gfkmfgf]�S;fg vftfn]� v'b d'gfkmfsf]� ?kdf ?= #@,!$,#%,)!*.– b]�vfPsf]� ;xif{ hfgsf/�L u/�fpFb5f}� . 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}� .

average premium per policy is at Rs. 15440. The total premium collected by the Company during 2072/73 stands at Rs 7070.11 Million. This way, we are happy to note that, for the first time in last six years, the Company could achieve its First Premium Income Target for the Financial Year.

Current Year Performance (As at 30th of April 2017)

The political & economic scenario of the country has not been stable so far, even though you can observe that there is a notable growth in the New Business of the Company, both in number of policies and first premium income, in the current year as well. We are hopeful that the growth rate will increase further in the months to come.

Operational OverviewThe Company is being operated through 35 branches at present, which are spread across the different parts of the country. As at the end of Ashad 2073, the Company has 136 staff members, two of whom are expatriates deputed from India with ample experience & knowledge in life insurance marketing and administrations, while others are all 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, in order to enhance the skills of the employees and agents so that they become vibrant and responsive in addition to remaining competitive in the market.

Changes in the Board of DirectorsShri V.K. Sharma has been appointed as chairman of Board of Directors in place of Shri S.K. Roy and Shri A. G. Dastidar, Officiating CEO as a Director in place of Shri S. C. Pattanayak after the 14th Annual General Meeting. Further, process of appointment of Shri B K Unhelkar, proposed CEO as Director is on, subject to instructions of Beema Samiti.

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 2072/73. 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. At the year end, the share market stood well showing a rise in NEPSE Index. The P/L Accounts as at the end of Ashad 2073 shows a Net profit of Rs 32,14,35,018/- , 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.

Particular 2072/73 2074/73 Growth Rate

No. of Policy 101146 118166 16.83%FPI(In Millions) 1222.35 1618.06 32.37%

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S


15 th Annual Report

9

n]vfk/LIfs>L la= 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|jfn n]�vfk/�LIfssf]� ?kdf k'glg{o'lQm x'g of]�Uo x'g' eO{ cfkm'n]� cfufld cf=a= @)&#÷&$ sf nflu klg n]�vfk/�LIfssf]� ?kdf sfo{ ug{ OR5f JoQm ug'{ePsf]�n]� n]�vf ;ldltsf]� l;kmfl/�;df ;+rfns ;ldltn]� pxf‘sf]� aflif{s ;]�jfz'Ns a[l4 u/�L ?=@,@),))).– ±Eof6 lbg]� zt{df k'glg{o'lQmsf]� nflu l;kmfl/�; ug]�{ lg0f{o u/�]�sf]� 5 . o; sDkgLsf]� cfGtl/�s n]�vfk/�LIfssf]� ?kdf >L b]�j Pzf]�l;o6\;sf rf6{8 PsfpG6]�G6 >L /�hlgz bfxfn x'g'x'GYof]� . ;+rfns ;ldltn]� n]�vf ;ldltsf]� l;kmfl/�;df cf=a= @)&#÷&$ sf]� nflu klg o; sDkgLsf]� cfGtl/�s n]�vfk/�LIfssf]� ?kdf rf6{8 PsfpG6]�G6 >L /�hlgz bfxfnnfO{ g}� ?= %,%),)))± Eof6 aflif{s ;]�jfz'Ns k|bfg ug]�{ zt{df k'glg{o'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 kfp‘bf 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]ifldlt @)&@ cfiff9 d;fGt;Dddf hLjg aLdf sf]�ifdf ?= @,)@$=*# s/�f]�8 /�x]�sf]�df To;df #)=*)Ü n]� a[l¢ eO{ ldlt @)&# cfiff9 d;fGt;Dddf hLjg aLdf sf]�ifdf ?=@,^$*=$$ s/�f]�8 hDdf ePsf]� ;xif{ hfgsf/�L u/�fpg rfxG5f}� .

nufgLldlt @)&@ cfiff9 d;fGt;Dddf s'n nufgL -aLdfn]�v shf{ tyf 5f]�6f]� cjlwsf]� nufgL ul/�_ ?= @,)@^=(@ s/�f]�8 /�x]�sf]�df ldlt @)&# cfiff9

Auditors Chartered Accountant Sri B. K. Agrawal of M/s B. K. Agrawal & Co. had been our Statutory Auditor for the year 2072/73. He is eligible to offer himself for reappointment and has done so and, the Board of Directors recommends his reappointment for the financial year 2073/74 as well with an annual fee of Rs. 2,20,000/- + VAT (Two lakh twenty thousand only) plus VAT. Similarly, Shri Rajnish Dahal of M/S Dev Associates, Chartered Accountant had been our internal auditor last year. The Board of Directors on the recommendation of the Audit Committee has appointed him for the current year with an annual fee of Rs. 5,50,000/- +VAT (Five lakh fifty thousand only) plus 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 workings 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 Ashad 2073, the life fund of the Company stood at Rs 26,484.40 Million as against Rs 20,248.35 Million at the end of Ashad 2072. This means the life fund grew at the rate of 30.80 % for the period.

InvestmentsThe total investments of the Company (including policy loans and short term investments) as at the end of Ashad 2073 stood at Rs 26,699.11

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S



10

d;fGt;Dddf 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/�x¿df nufgL u/�]�sf]� 5 . ahf/�sf]� cj:�yf Tolt cg's"n gePtf klg sDkgLsf]� laj]�sk"0f{ nufgL gLltsf sf/�0f o; aif{ nufgLaf6 k|fKt x'g]�]� k|ltkmndf @@=^)Ü sf]� a[l¢b/� xfl;n u/�]�sf]� 5 . pknAw hu]�8f /�sdnfO{ nufgL ubf{ laj]�sk"0f{ 9Ën]� ;'/�lIft /� pRrtd k|ltkmn lbg]� :�yfgx¿df dfq nufgL ug{ xfdL k|of;/�t 5f}�+ .

;+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, pxf‘nfO{ lbOPsf]� kfl/�>lds /� c? ;+rfnsx¿nfO{ k|bfg ul/�Psf]� a}�7s eQf afx]�s sDkgL;‘u ;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[l4sf;fy o; aif{ sDkgLsf]� s"n cfDbfgL ?=()! s/�f]�8 xfl;n ePsf]� 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]� lyof]� . 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 . o; aif{sf]� Joj:�yfkg vr{ cg'kft ^=%(Ü /�x]�sf]� 5 . cfufld lbgx¿df klg Aoj:�yfkg vr{nfO{ sd ug]�{ tkm{ sDkgL k|of;/�t 5 .

Million as against Rs 20,269.28 Million as at the end of Ashad 2072. This shows an increase of 31.72 % and investments have been done strictly as per the guidelines and rules existing in the country, as well as, 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 Bonds of Nepal Rastra Bank, Fixed deposits with various Commercial Banks, Development Banks, Finance Companies, Citizen's Investment Trust and in Preference Shares and Debentures of Banks and reputed public limited Companies as well as 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 22.60% in the just concluded financial year 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 fiscal year 2072/73, 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 and benefits to the CEO, who is also a Director and payment of sitting fees to all the Directors.

Income and Management ExpensesThe total income of the Company during the year was Rs. 9,010.06 Million, showing a growth 29.77% over that of last year, with income from investment (including interest incomes from loans and advances) registering 22.60% 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. We are still maintaining the low level of management expenses ratio which is 6.59%.

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S


15 th Annual Report

11

;+rfns tyf kbflwsf/Lx¿nfO{ ul/Psf] e'QmfgL sDkgLsf]� lgodfg';f/� o; cf=j= 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/�0fM

*pxf‘x¿ ef/�tLo hLjg aLdf lgudsf]� sd{rf/�Lx¿ ePsf]� x'‘bf pQm a}�7s

eQfx¿ lgudsf]� gfddf e'QmfgL ul/�Psf 5g\ .

;Dklt vl/bsDkgL P]�g, @)^# sf]� bkmf !$! adf]�lhd ;+rfns ;ldltn]� kfl/�t u/�]�sf]� of]�hgf adf]�lhd ;jf/�L sf/�x¿ sDkgLsf]� clws[tx¿sf]� k|of]�hgfy{ lslgPsf afx]�s c? s'g}� klg ;Dklt vl/�b jf laqmL ul/�Psf]� 5}�g .

aLdfsf]ifsf] d"Nof°gaLdf ;ldltsf]� lgb]�{zg adf]�lhd aLdf sDkgLx¿n]� x/�]�s aif{ aLdfÍLo d"Nofs+g u/�fpg' kg]�{ Joj:�yf /�x]�sf]� 5 . o; sDkgLsf]� cf=a= @)&@÷&# sf]� jflif{s aLdfÍLo d"Nofs+gaf6 art ?=$,#),@(,^(,!*$.– k|fKt x'g cfof]� /� ;f]�af6 ?=@,&@,!#,%*,#)%.– af]�g;sf]� ?kdf laldtx¿nfO{ ljt/�0f ug]�{ lg0f{o ePsf]� 5 h'g cf‘s8fx¿ oxf‘x¿n]� sDkgLsf]� cf=a= @)&@÷&# sf]� ljlQo ljj/�0fdf klg b]�Vg ;Sg' x'g]�5 .

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

Payment to Directors and other ExecutivesA total of NRs 25,338,818/- have been paid to Directors, CEO and other Executives of the Company as per laid down rules, in the year 2072/73.

Statement of Remuneration of Directors and Executives is as under:

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

Purchase of PropertyNo property has been purchased or sold by the Company during the year as per section 141 of the Companies Act, 2063, except for 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. Accordingly, annual valuation results for 2072/73 has shown a surplus of Rs 4,30,29,69,184 out of which Rs 2,72,13,58,305 is distributed to the Policyholders as Bonuses & these figures are reflected in the financial statements for 2072/73.

Certification of the actuary regarding solvency of the company and its capital adequacy up to 2072/73 is appended to the report.

Name Designation Amount Paid (Rs.) Type of PaymentMr. S. K. Roy Chairman 30,000 Sitting Fee*Mr. S. B. Mainak Director 30,000 Sitting Fee*Mr. Ashok Agrawal Director 45,000 Sitting FeeMrs. Usha Sangwan Director 5,000 Sitting Fee*Mr. V. K. Kukreja Director 45,000 Sitting FeeMr. Rajendra Prasad Aryal Director 30,000 Sitting Fee

Mr. P.R. Mishra Director/CEO 30,000 Sitting Fee*

9,631,601 Salary and other amenitiesMr. Subash Chandra Pattanayak Director/CEO 1,233,128 Salary and other amenitiesMr. R.K. Choudhary AGM 3,461,309 Salary and other amenitiesMr. Abhijit Ghosh Dastidar DGM 4,398,063 Salary and other amenitiesMr. Sudhir Sagar Manager IT 6,614,502 Salary and other amenities

Total 25,338,818

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S



12

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

z]o/wgLx¿nfO{ nfef+z tyf af]g;cf=a= @)&@÷&# sf]� clGtd aLdfÍLo d'Nofs+gx¿af6 cfPsf]� kl/�0ffdnfO{ ;dfj]�z u/�]�kZrft sDkgLn]� s"n gfkmf /�sd ?=#@=!$ s/�f]�8 /�sd z]�o/�wgL vftfdf /�fVg ;kmn ePsf]� 5 . o; sDkgLsf]� ;+rfns ;ldltn]� pQm gfkmfaf6 xfd|f z]�o/�wgLx¿nfO{ sDkgLsf]� r'Qmf k"‘hLsf]� @^=!)%#Ü -cyf{t ?= @&,(!,*#,%%#_ nfef+z lbg]� k|:�tfj u/�]�sf]� 5 h; cGtu{t @$=*)Ü af]�g; z]�o/� /� ;f]� af]�g; z]�o/� lnP afkt g]�kfn ;/�sf/�nfO{ a'emfpg' kg]�{ s/� afktsf]� /�sd k|of]�hgsf nflu !=#)%#Ü gub nfef+z k|:�tfljt 5g\ . ;+rfns ;ldltn]� sDkgLsf]� xfnsf]� clws[t k‘"hL, hf/�L k‘"hL /� r'Qmf k‘"hLnfO{ a[l4 u/�L ?=!##=$^& s/�f]�8 k'/�\ofpg o; ul/�dfdo ;efdf k|:�tfj ug]�{ lg0f{o u/�]�sf]� 5 .

gof“ aLdf of]hgf …�hLjg>LÚ�o; aif{ sDkgLn]� hLjg>L gfdsf]� gofF aLdf of]�hgf jhf/�df NofPsf]� 5 . o; aLdf of]�hgfdf ;Dk"0f{ aLdfz'Ns % aif{df ltbf{ b'3{6gf nfe;lxt !% aif{;Ddsf]� hLjg aLdf pknAw u/�fOG5 . o; aLdf of]�hgfdf laldtnfO{ klxnf]� % aif{ ?= ̂ % k|ltxhf/� k|ltjif{ ;'lglZrt af]�g; /� To;kl5 sDkgLn]� 3f]�if0ff u/�]�cg';f/�sf]� af]�g; k|bfg ul/�G5 .

u|fxs ;]jfx¿g]6jsL{·, aLdfz"Ns e'QmfgL / df]afOn P;PdP; ;]jfo; sDkgLn]� ljleGg ;]�jf k|bfg ug{ cTofw'lgs ;"rgf k|ljlwsf]� k|of]�u ul/�/�x]�sf]� 5 . cfw'lgs ;"rgf k|ljlwsf]� k|of]�u ub}�{ u|fxsx¿nfO{ ;kmntfk"j{s æh'g;'s}� zfvfaf6 aLdfz'Ns e'QmfgL ug{ ldNg]� ;]�jfÆ pknAw u/�fp‘b}� cfPsf]� 5 . To;}� u/�L, xfn sDkgLn]� df]�afOn P;PdP; ;"rgf ;]�jf /� j]�e;fO6df cgnfOg kf]�6{n ;]�jf k|bfg ul/�/�x]�sf]� 5 h;dfkm{t laldtx¿nfO{ aLdf cjlwsf]� ;dflKt, aLdfz'Ns /�sd e'QmfgL ug'{ kg]�{ af/�]� clu|d hfgsf/�L, aLdfz'Ns e'QmfgL k|fKt ePsf]� hfgsf/�L, aLdfn]�v shf{ e'QmfgL, ;dk{0f, hLljt nfe /� kl/�kSjtf nfe e'QmfgLx¿sf]� af/�]�df hfgsf/�L u/�fOG5 .

Bonus to PolicyholdersThe Bonus rates of the company for 2072/73 are as below:

Dividend & Bonus for shareholdersWith the closing of the books after the inclusion of the valuation results for 2072/73, the Company has shown Rs 321.435 Million as net profit in the Shareholders account. The Board of Directors proposes 26.1053% of our paid up capital amounting to Rs 27,91,83,553 as dividends out of this profit to our valued Shareholders, and from this dividends, 24.80% as Bonus Share, 1.3053% as cash dividends to meet tax on the total dividends so declared are to be apportioned. The Board of Directors also proposes to increase the Authorized Capital & Paid up Capital of the Company to Rs 1334.6775 Million.

New Product “Jeevan Shree”The Company has brought new insurance product called “Jeevan Shree” where the policyholder has to pay premium in 5 years and get life insurance for 15 years with accidental benefit. This product gives Rs. 65 per 1000 per year guaranteed bonus for first 5 years and the bonus as declared by the company shall be applicable for the subsequent years.

Customer ServiceNetworking, Premium Payment & Mobile SMSThe Company has adopted the state of art IT facilities. Life Insurance Corporation (Nepal) Ltd has successfully introduced “anywhere premium payment” system- it is now possible for a customer to pay his premium in any branch of Life Insurance Corporation (Nepal) Ltd irrespective of where he/ she has taken the policy from. 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.

Policy Term Bonus Endowment (including Jeevan Anand) 5 to 19 61Endowment (including Jeevan Anand) 20 to 24 65Endowment (including Jeevan Anand) 25 and above 75Money Back 15 61Money Back 20 62Money Back 25 63

Premium Term Bonus

Jeevan Tarang 10 6115 6320 72

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S


15 th Annual Report

13

d[To' bfaLcf=j= @)&@÷&# df sDkgLn]� hDdf %@* j6f d[To' bfaLx¿ ;DkGg u/�L ?=!@=*( s/�f]�8 /�sd e'tmfgL u/�]�sf]� 5 . :�yfkgfb]�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 gof‘ clestf{x¿ lgo'Qm u/�]�sf]� lyof]� . To;}� u/�L @)&# cfiff9 d;fGt;Dddf sDkgLdf hDdf #$,%)) hgf clestf{x¿ sfo{/�t /�x]�sf lyP h; dWo]� %,&!$ hgf clestf{x¿n]� aLdf Aofkf/�df ;lqmo of]�ubfg k'/�\ofpg' ePsf]� 5 . o; aif{ !&) hgf clestf{x¿ ;tsaL/� /� *$ hgf aLdf k]�zfsf]� ;Ddflgt MDRT CLUB 2017 df ;b:�o aGg ;kmn ePsf 5g\ . aLdf laqmL a9fpg]� p2]�Zon]� gof‘ 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 . pQm aif{ ^ j6f a}�7sx¿ ;DkGg ePsf 5g\ . 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 tyf nfu" u/�]�sf]� 5 .

;j}eGbf a9L cfos/ a'emfpg]df ;DdflgtkfFrf}�+ /�fli6«o s/� lbj; @)&# sf]� cj;/�df cf=j= @)&!÷&@ sf nflu aLdf Joj;fo cGtu{t g]�kfn ;/�sf/�af6 PncfO{;L g]�kfnnfO{ ;j}�eGbf a9L cfos/� bflvnf ug]�{ aLdf sDkgLsf]� ?kdf nuftf/� bf]�>f]� k6s ;Ddflgt ul/�Psf]� s'/�f ;uf}�/�j hfgsf/�L u/�fpg rfxG5f}� .

z]o/ k|df0fkqsf] cef}lts/0fPncfO{;L g]�kfnn]� cfkm\gf]� sDkgLsf]� z]�o/� k|df0fkqx¿nfO{ l;l8P; P08 lSnol/�Ë lnld6]�8dfkm{t cef}�lts/�0f ul/�/�x]�sf]� 5 . xfn z]�o/� jhf/�df o; sDkgLsf]� z]�o/�x¿ k"0f{tM cef}�lts?kdf sf/�f]�af/� e}�/�x]�sf]� hfgsf/�L u/�fp‘b5f}� .

;+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 .

ClaimsDuring the fiscal year 2072/73, we have settled 528 death claims for an amount of Rs 128.92 Millions. The total death claims settled since inception is 2822 in which we have paid Rs 522.22 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 industry. All the maturity and survival benefit claims of the Company due in the fiscal, were settled in the fiscal itself, a unique feat in the Life Insurance Market of Nepal. The total claim (Death+ Maturity+ Survival Benefits) amount paid during the year is Rs.409.17 Million.

Other Marketing ActivitiesDuring the year of review, the Company recruited 2969 new agents. As at the end of Ashad 2073, we had 34,500 agents on roll out of which 5714 have contributed to the business of the Company. During the year just completed, 170 Agents have become Centurions and 84 Agents have qualified to be the member of prestigious MDRT-2016 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 GovernanceCompany's Board of Directors meet regularly as per the prescribed rules. 6 such meetings have been held till date. 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, 2073 issued by Insurance Board.

Honour of Highest Tax Payer Company It is a matter of great pride that Government of Nepal has honored Life Insurance Corporation (Nepal) Ltd for 2nd time in a row as the highest tax payer company amongst all the Insurance Companies of Nepal for the year 2071/72 on the occasion of 5th National Tax Day Celebration, 2073.

Dematerialization of SharesAs per agreement with CDS and Clearing Ltd for dematerialization of Company’s shares, a full-fledged dematerialized share trading has been taking place in stock market.

Share purchased by DirectorsDuring the financial year 2072/73, neither Directors nor Officers of the Company have purchased any shares of the Company and they have not been involved in any transactions related thereto.

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S



14

z]o/wgLx¿af6 k|fKt hfgsf/LsDkgLsf]� sfo{z}�nL v'Nnf /� kf/�bzL{ ePsf]� x'‘bf z]�o/�wgL dxfg'efjx¿af6 k|fKt x'g]� ;'emfjnfO{ sDkgL ;b}�j :�jfut ub{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 .

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 ;ldlt 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 ;+rfns ;ldlt 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{ rfxG5 . ;Dk"0f{ z]�o/�wgL /� ljldt dxfg'efjx¿nfO{ sDkgLk|lt ug'{ ePsf]� ;xof]�u, ;lbR5f /� cfTdljZjf;sf nflu xfdL cfef/� JoQm ug{ rfxG5f}� .

pRr ;kmntfsf nflu nuglzntfsf;fy d]�xgt ug'{x'g]� ;Dk"0f{ ahf/� k|ltlglwx¿ tyf sd{rf/�Lx¿nfO{ ;+rfns ;ldlt wGojfb lbg rfxG5 . sDkgLsf]� n]�vf k|0ffnLnfO{ pTs[i6 sfod /�fVg dfu{ lgb]�{zg ug'{ x'g]� aLdfÍL, rf6{8 PsfpG6]�G6 Pj+ n]�vfk/�LIfs dxf]�box¿df klg s[t1tf JoQm ug{ rfxG5f}� . nfOkm OG:�of]�/�]�G; skf]�{/�]�zg -g]�kfn_ ln= g]�kfnsf]� aLdf pBf]�udf ;jf]�{Ts[i6 Pj+ cu|0fL ;+:�yfsf]� ?kdf /�xg ;sf]�;\ eGg]� clek|fosf ;fy xfdL cfd hg;d'bfoaf6 eljiodf lg/�Gt/� ;xof]�u /� ;lbR5fsf]�]� ck]�Iff ub{5f}�+ .

wGojfb .

;+rfns ;ldlt

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 would definitely give due consideration to these.

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, Chartered Accountants and Auditors for their support and guidance, in maintaining the highest standards of corporate excellence. The Board of Directors and the Company sincerely solicit the continued support and patronage of the public of Nepal to make the Company emerge as market leader in the Insurance Industry of Nepal.

Thank you once again.

Board of Directors

;+rfns ;ldltsf]

k|ltj]bgDIRECTOR'S


15 th Annual Report

15

BM & Managers' Training session at Nagarkot

Branch Managers in BM Meet at Sauraha

Corporate Staffs with BoD in 14th AGM in Kathmandu

GLIMPSES

15

!%

16

cf}+ jflif{s k|ltj]bg

Corporate officials with Executive Director (IO) Smt. Nalini Ratnam

Highest FPI achiever Mr. Anjan Bhandari being falicitated by the Chairman along with other directors

LIC Nepal Corporate Staffs with Director Smt. Usha Sangwan

16

GLIMPSES

15

17

th Annual Report

ljQLo ljj/0fFINANCIALSTATEMENTS

!%

22


;+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 22,806,524 22,052,524 hDdf 22,806,524 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 !^ 1,069,453,125 855,562,500 2 hu]�8f tyf sf]�if !& 408,978,251 347,536,538 3 hLjg aLdf sf]�if !! 26,484,403,810 20,248,350,632 4 dxf–ljkQL hu]�8f !* 88,230,920 56,087,418 5 ltg{ afFsL bL3{sflng C0f tyf ;fk6L !( - - s"n >f]t 28,051,066,106 21,507,537,088

pkof]u 6 l:�y/� ;DkQL -v'b_ @) 220,313,301 219,011,527 7 lb3{sflng nufgL @! 5,489,322,499 5,042,839,595 8 aLdfn]�vsf]� lwtf]�df shf{ # 3,039,758,308 2,335,591,061 9 cGo bL3{sflng shf{ @# 30,806,874 27,237,215 Rffn' ;DkQL shf{ tyf k]�ZsLx? M 10 gub tyf a}�+s df}�Hbft @@ 471,359,944 458,043,770 11 cNksflng nufgL @! 18,170,028,098 12,890,848,658 12 cGo cNksflng shf{ @# 228,149,831 219,726,136 13 cGo ;DkQL @$ 1,614,464,757 1,371,311,815 hDdf -s_ -!)±!!±!@±!#_ 20,484,002,630 14,939,930,379 rfn' bfloTj tyf Joj:�Yffx? M 14 rfn' bfloTj @% 1,015,891,096 935,797,994 15 c;dfKt hf]�lvd jfkt Joj:�yf @^ 118,033,567 64,693,019 16 e'QmfgL x'g afFsL bfjL afkt Joj:�yf ( 16,800,307 12,193,483 17 cGo Aoj:�yf @^s 77,085,430 65,238,868 hDdf -v_ -!$±!%±!^±!&_ 1,227,810,400 1,077,923,364 18 v"b rfn' ;DkQL -u_ = -s_ – -v_ 19,256,192,230 13,862,007,015 19 ckn]�vg jf ;dfof]�hg x'g afFsL ljljw vr{x? @& 14,672,894 20,850,675 20 gfkmf gf]�S;fg lx;faaf6 ;f/�]�sf]� gf]�S;fg - - s"n pkof]u -^±&±*±(±!*±!(±@)_ 28,051,066,106 21,507,537,088

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

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

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

le=s]�� s's\/�]��hf czf]��s cu|jfn jL= s]��= zdf{ lgb]�{zs lgb]�{zs cWoIf

;+nUg k|ltj]�bgsf]� cfwf/�df

ldlt M @)&#÷!!÷!*

15

23

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDBalance sheet As On 31st Ashad 2073 (15th July 2016)

S.N. Particulars Schedule Current year Previous Year Sources 1 Paid up capital 16 1,069,453,125 855,562,500 2 Reserves & Surplus 17 408,978,251 347,536,538 3 Life Insurance Fund 11 26,484,403,810 20,248,350,632 4 Catastrophe Reserve 18 88,230,920 56,087,418 5 Long term loans & Borrowings 19 - - Total Sources 28,051,066,106 21,507,537,088 Uses 6 Fixed Assets (Net) 20 220,313,301 219,011,527 7 Long Term Investments 21 5,489,322,499 5,042,839,595 8 Policy Loans 3 3,039,758,308 2,335,591,061 9 Other Long Term Loans 23 30,806,874 27,237,215 Current Assets, Loans and advances: 10 Cash and Bank Balance 22 471,359,944 458,043,770 11 Short Term Investments 21 18,170,028,098 12,890,848,658 12 Other Short Term Loans 23 228,149,831 219,726,136 13 Other Assets 24 1,614,464,757 1,371,311,815 Total (A){10+11+12+13} 20,484,002,630 14,939,930,379 Current liabilities and provisions: 14 Current Liabilities 25 1,015,891,096 935,797,994 15 Provision for Unexpired Risk 26 118,033,567 64,693,019 16 Provision For outstanding Claims 9 16,800,307 12,193,483 17 Other Provision 26a 77,085,430 65,238,868 Total (B){14+15+16+17} 1,227,810,400 1,077,923,364 18 Net Current Assets C = (A-B) 19,256,192,230 13,862,007,015 19 Miscellaneous Expenses(To the extent not written off) 27 14,672,894 20,850,675 20 Loss Transferred From Profit & Loss Account - Total Uses (6+7+8+9+18+19+20) 28,051,066,106 21,507,537,088

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

Contingent liabiltiesS.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) 22,806,524 22,052,524 Total 22,806,524 22,052,524

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

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

As per our report of even date

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

Date: 01.03.2017

!%

24


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]� !) 23,776,783 2,239,523 2 hLjg aLdf sf]�ifaf6 ;f/�]�sf]� !! 302,373,115 240,601,820 3 nufgL shf{ tyf cGoaf6 cfo @ 74,841,319 65,069,802 4 Joj:�yf lkmtf{ !@ 4,063,846 7,104,928 5 cGo cfDbfgL -ljj/�0f v'nfpg]�_ - hDdf cfDbfgL -s_ 405,055,063 315,016,073

vr{ 6 Joj:�yfkg vr{ & 46,588,350 37,360,026 7 ckn]�vg vr{ !# 88,072 40,446 8 z]�o/� ;DalGw vr{ !# s 1,173,646 693,965 9 cGo vr{x? !$ 171,330 25,100 10 gf]�S;fgLsf]� nflu Joj:�yf !% - - 11 sd{rf/�L cfjf; Aoj:�yf @^ s 12 sd{rf/�L af]�g; Joj:�yf @^ s 32,457,606 25,172,412 13 ;dfof]�lht cfos/� - c_ Ö -cf_–-O_ * 3,141,041 2,681,949 14 cf_ cfos/� 3,253,913 15 O_ :�yug s/� bfloTj 112,872 16 hLjg aLdf sf]�ifdf ;f/�]�sf]� !! - - hDdf vr{ -v_ 83,620,045 65,973,898

17 v"b gfkmf ÷-gf]S;fg_ -u_ = -s_ – -v_ 321,435,018 249,042,175 18 cl3Nnf]� jif{;+u ;DalGwt vr{ 19 cl3Nnf]� aif{af6 ;fl/�Psf]� gfkmf÷-gf]�S;fg_ 71,567,395 72,819,857

afF8kmfF8sf] nflu pknAw /sd 393,002,413 321,862,032 20 -s_ :�yug s/� hu]�8f !& 112,872 242,394 -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/� !& 265,224,375 213,890,625 -cf_ gub nfef+z @^ s 13,959,178 11,257,401 -r_ dxf–ljkQL hu]�8f !* 32,143,502 24,904,217 jf;nftdf ;f/]sf] gfkmf÷-gf]S;fg_ 81,562,486 71,567,395

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





ldlt M @)&#÷!!÷!*

15

25

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDProfit and Loss Account for the year of 2072/73 (2015/2016)

S.N. Particular Schedule Current year Previous Year

Income 1 Transferred from Revenue A/c 10 23,776,783 2,239,523 2 Transferred from Life Insurance fund 11 302,373,115 240,601,820 3 Income From Investment Loan and Others 2 74,841,319 65,069,802 4 Written Back Provision 12 4,063,846 7,104,928 5 Other Income - Total Income (A) 405,055,063 315,016,073

Expenses 6 Management expenses 7 46,588,350 37,360,026 7 Written off expenses 13 88,072 40,446 8 Share related expenses 13(A) 1,173,646 693,965 9 Other expenses 14 171,330 25,100 10 Provision for loss 15 - - 11 Provision for Employees housing 26(A) 12 Provision for Employees Bonus 26(A) 32,457,606 25,172,412 13 Adjusted Income tax A= (B-C) 8 3,141,041 2,681,949 14 B. Income Tax 3,253,913 15 C. Defferred Tax Assets 112,872 16 Transferred to Life Fund 11 - - Total Expenses (B) 83,620,045 65,973,898

17 Net profit/(loss) A = (B-C) 321,435,018 249,042,175 18 Expenses pertains to Prevoius year - 19 Profit transferred from previous year 71,567,395 72,819,857 Amount available for Appropriation 393,002,413 321,862,032 20 (a) Deferred tax reserve 17 112,872 242,394 (b) Capital reserve 17 - (c) Special reserve 17 - (d) Other reserve 17 - (e) Proposed dividend (f) Bonus Share 17 265,224,375 213,890,625 (g) Cash dividend 26(A) 13,959,178 11,257,401 (h) Catastrophy reserve 18 32,143,502 24,904,217 Profit transferred to Balance sheet 81,562,486 71,567,395

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





Date: 01.03.2017

!%

26


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_ ! 6,958,011,328 5,328,199,247 2 k'gaL{df sldzg cfo 13,651,753 7,305,411 3 nufgL, shf{ tyf cGoaf6 cfo @ 1,455,953,438 1,182,814,204 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 291,749,820 221,553,903 5 cGo k|ToIf cfo 76,952,197 54,140,097 6 cfly{s aif{sf]� z'?sf]� e'QmfgL x'g afFsL bfjL afkt Joj:�yf 12,193,483 7,215,454 7 cfly{s aif{sf]� z'?sf]� c;dfKt hf]�]�lvd afkt Joj:�yf 64,693,019 15,202,136

hDdf cfo -s_ 8,873,205,038 6,816,430,452 Joo 8 bfjL e'QmfgL -v'b_ $ 710,464,311 567,966,534 9 clestf{ sldzg % 838,802,902 690,041,079 10 :�jf:�Yo k/�LIf0f z'Ns 18,344,373 16,274,136 11 k'gaL{df sldzg vr{ - - 12 ;]�jf z'Ns -v'b_ ^ 69,580,112 53,281,992 13 cGo k|ToIf vr{ 206 - 14 Joj:�yfkg vr{ & 419,295,147 336,240,235 15 cfos/� * 119,681,037 89,757,418 16 cfly{s aif{sf]� cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:�yf ( 16,800,307 12,193,483 17 cfly{s aif{sf]� cGTodf c;dfKt hf]�lvd afkt Joj:�yf 118,033,567 64,693,019 hDdf Joo -v_ 2,311,001,962 1,830,447,896 18 hLjg aLdf sf]ifdf ;f/]sf] art 6,538,426,293 4,983,743,033 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ 23,776,783 2,239,523

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





ldlt M @)&#÷!!÷!*

15

27

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDConsolidated Revenue Account For the F. Y. 2072/073 (2015/16)

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 6,958,011,328 5,328,199,247 2 Re- Insurance Commission Income 13,651,753 7,305,411 3 Investment, Loan And Other Income 2 1,455,953,438 1,182,814,204 4 Income From Policy Loan 3 291,749,820 221,553,903 5 Other Direct Income 76,952,197 54,140,097 6 Provision for outstanding claims at the begin. Of year 12,193,483 7,215,454 7 Provision for unexpired risk at the beginning of the year 64,693,019 15,202,136 Total Income (A) 8,873,205,038 6,816,430,452 Expenditure 8 Claim Payment (Net) 4 710,464,311 567,966,534 9 Agent commisions 5 838,802,902 690,041,079 10 Medical Fees 18,344,373 16,274,136 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 69,580,112 53,281,992 13 Other Direct Expenses 206 - 14 Management Expenses 7 419,295,147 336,240,235 15 Income Tax 8 119,681,037 89,757,418 16 Provision for Outstanding claim to be paid at the end of the year 9 16,800,307 12,193,483 17 Provision for unexpired Risk to be paid at the end of the year 118,033,567 64,693,019 Total Expenditure (B) 2,311,001,962 1,830,447,896 18 Surplus Transferred to Life Fund (A-B) 6,538,426,293 4,983,743,033 19 Surplus / Loss Transferred to Profit & Loss Account 23,776,783 2,239,523

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





Date: 01.03.2017

!%

28


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_ ! 2,803,770,085 2,002,807,748 2 k'gaL{df sldzg cfo 4,169,980 1,955,151 3 nufgL, shf{ tyf cGoaf6 cfo @ 600,195,348 488,656,302 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 120,552,210 98,974,853 5 cGo k|ToIf cfo 27,048,143 17,650,929 6 cfly{s aif{sf]� z'?sf]� e'QmfgL x'g afFsL bfjL afkt Joj:�yf 4,449,855 1,556,238 7 cfly{s aif{sf]� z'?sf]� c;dfKt hf]�]�lvd afkt Joj:�yf - - hDdf cfo -s_ 3,560,185,621 2,611,601,221 Joo 8 bfjL e'QmfgL -v'b_ $ 296,426,254 241,909,143 9 clestf{ sldzg % 376,469,308 286,141,333 10 :�jf:�Yo k/�LIf0f z'Ns 8,941,848 7,785,061 11 k'gaL{df sldzg vr{ - - 12 ;]�jf z'Ns -v'b_ ^ 28,037,700 20,028,077 13 cGo k|ToIf vr{ - - 14 Joj:�yfkg vr{ & 163,795,802 122,438,985 15 cfos/� * 50,260,424 38,648,632 16 cfly{s aif{sf]� cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:�yf ( 6,194,215 4,449,855 17 cfly{s aif{sf]� cGTodf c;dfKt hf]�lvd afkt Joj:�yf - - hDdf Joo -v_ 930,125,551 721,401,086 18 hLjg aLdf sf]ifdf ;f/]sf] art 2,630,060,070 1,890,200,135 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

29

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Endowment Policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME

1 Net Premium 1 2,803,770,085 2,002,807,748 2 Re- Insurance Commission Income 4,169,980 1,955,151 3 Investment, Loan And Other Income 2 600,195,348 488,656,302 4 Income From Policy Loan 3 120,552,210 98,974,853 5 Other Direct Income 27,048,143 17,650,929 6 Provision for outstanding claims at the begin. Of year 4,449,855 1,556,238 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 3,560,185,621 2,611,601,221 Expenditure 8 Claim Payment (Net) 4 296,426,254 241,909,143 9 Agent commisions 5 376,469,308 286,141,333 10 Medical Fees 8,941,848 7,785,061 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 28,037,700 20,028,077 13 Other Direct Expenses - - 14 Management Expenses 7 163,795,802 122,438,985 15 Income Tax 8 50,260,424 38,648,632 16 Provision for Outstanding claim to be paid at the end of the year 9 6,194,215 4,449,855 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 930,125,551 721,401,086 18 Surplus Transferred to Life Fund (A-B) 2,630,060,070 1,890,200,135 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

30


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_ ! 632,483,337 606,631,212 2 k'gaL{df sldzg cfo 541,315 243,844 3 nufgL, shf{ tyf cGoaf6 cfo @ 216,338,793 197,859,030 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 34,878,434 27,977,413 5 cGo k|ToIf cfo 12,066,591 10,060,082 6 cfly{s aif{sf]� z'?sf]� e'QmfgL x'g afFsL bfjL afkt Joj:�yf 5,336,033 4,197,813 7 cfly{s aif{sf]� z'?sf]� c;dfKt hf]�]�lvd afkt Joj:�yf - - hDdf cfo -s_ 901,644,503 846,969,394 Joo 8 bfjL e'QmfgL -v'b_ $ 191,321,749 173,370,678 9 clestf{ sldzg % 45,159,265 47,792,785 10 :�jf:�Yo k/�LIf0f z'Ns 496,942 527,404 11 k'gaL{df sldzg vr{ - - 12 ;]�jf z'Ns -v'b_ ^ 6,324,833 6,066,312 13 cGo k|ToIf vr{ - - 14 Joj:�yfkg vr{ & 39,647,610 39,902,143 15 cfos/� * 20,349,640 16,669,931 16 cfly{s aif{sf]� cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:�yf ( 7,051,285 5,336,033 17 cfly{s aif{sf]� cGTodf c;dfKt hf]�lvd afkt Joj:�yf - - hDdf Joo -v_ 310,351,324 289,665,286 18 hLjg aLdf sf]�ifdf ;f/�]�sf]� art 591,293,179 557,304,108 19 gfkmf gf]�S;fg lx;fadf ;f/�]�sf]� art÷-gf]�S;fg_ - -






ldlt M @)&#÷!!÷!*

15

31

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Anticipated Endowment Policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 632,483,337 606,631,212 2 Re- Insurance Commission Income 541,315 243,844 3 Investment, Loan And Other Income 2 216,338,793 197,859,030 4 Income From Policy Loan 3 34,878,434 27,977,413 5 Other Direct Income 12,066,591 10,060,082 6 Provision for outstanding claims at the begin. Of year 5,336,033 4,197,813 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 901,644,503 846,969,394 Expenditure 8 Claim Payment (Net) 4 191,321,749 173,370,678 9 Agent commisions 5 45,159,265 47,792,785 10 Medical Fees 496,942 527,404 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 6,324,833 6,066,312 13 Other Direct Expenses - - 14 Management Expenses 7 39,647,610 39,902,143 15 Income Tax 8 20,349,640 16,669,931 16 Provision for Outstanding claim to be paid at the end of the year 9 7,051,285 5,336,033 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 310,351,324 289,665,286 18 Surplus Transferred to Life Fund (A-B) 591,293,179 557,304,108 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

32


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_ ! 2,823,187,326 2,264,372,324 2 k'gaL{df sldzg cfo 6,496,453 3,536,719 3 nufgL, shf{ tyf cGoaf6 cfo @ 561,477,803 446,515,692 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 125,092,609 88,193,102 5 cGo k|ToIf cfo 33,208,712 24,113,504 6 cfly{s aif{sf]� z'?sf]� e'QmfgL x'g afFsL bfjL afkt Joj:�yf 2,407,595 1,461,404 7 cfly{s aif{sf]� z'?sf]� c;dfKt hf]�]�lvd afkt Joj:�yf - - hDdf cfo -s_ 3,551,870,498 2,828,192,745 Joo 8 bfjL e'QmfgL -v'b_ $ 172,996,562 128,560,359 9 clestf{ sldzg % 320,289,093 276,135,017 10 :�jf:�Yo k/�LIf0f z'Ns 6,202,088 5,391,867 11 k'gaL{df sldzg vr{ - - 12 ;]�jf z'Ns -v'b_ ^ 28,231,874 22,643,723 13 cGo k|ToIf vr{ - - 14 Joj:�yfkg vr{ & 169,643,099 142,662,021 15 cfos/� * 45,127,861 32,067,104 16 cfly{s aif{sf]� cGTodf e'QmfgL x'g afFsL bfjL afkt Joj:�yf ( 3,554,808 2,407,595 17 cfly{s aif{sf]� cGTodf c;dfKt hf]�lvd afkt Joj:�yf - - hDdf Joo -v_ 746,045,385 609,867,686 18 hLjg aLdf sf]ifdf ;f/]sf] art 2,805,825,112 2,218,325,059 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

33

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Modified Endowment Policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 2,823,187,326 2,264,372,324 2 Re- Insurance Commission Income 6,496,453 3,536,719 3 Investment, Loan And Other Income 2 561,477,803 446,515,692 4 Income From Policy Loan 3 125,092,609 88,193,102 5 Other Direct Income 33,208,712 24,113,504 6 Provision for outstanding claims at the begin. Of year 2,407,595 1,461,404 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 3,551,870,498 2,828,192,745 Expenditure 8 Claim Payment (Net) 4 172,996,562 128,560,359 9 Agent commisions 5 320,289,093 276,135,017 10 Medical Fees 6,202,088 5,391,867 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 28,231,874 22,643,723 13 Other Direct Expenses - - 14 Management Expenses 7 169,643,099 142,662,021 15 Income Tax 8 45,127,861 32,067,104 16 Provision for Outstanding claim to be paid at the end of the year 9 3,554,808 2,407,595 17 Provision for unexpired Risk to be paid at the end of the year - - Total Expenditure (B) 746,045,385 609,867,686 18 Surplus Transferred to Life Fund (A-B) 2,805,825,112 2,218,325,059 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

34


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_ ! 482,654,231 357,105,112 2 k'gaL{df sldzg cfo 2,382,303 1,527,921 3 nufgL, shf{ tyf cGoaf6 cfo @ 56,922,369 38,884,527 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 10,446,578 5,713,439 5 cGo k|ToIf cfo 3,882,109 2,253,404 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_ 556,287,590 405,484,403 Joo 8 bfjL e'QmfgL -v'b_ $ 25,524,971 11,148,786 9 clestf{ sldzg % 79,645,722 68,130,444 10 :�jf:�Yo k/�LIf0f z'Ns 2,495,800 2,414,702 11 k'gaL{df sldzg vr{ - - 12 ;]�jf z'Ns -v'b_ ^ 4,826,542 3,571,051 13 cGo k|ToIf vr{ - - 14 Joj:�yfkg vr{ & 27,339,248 20,793,747 15 cfos/� * 3,407,108 1,909,205 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_ 143,239,390 107,967,935 18 hLjg aLdf sf]ifdf ;f/]sf] art 413,048,200 297,516,468 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

35

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Whole Life Policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 482,654,231 357,105,112 2 Re- Insurance Commission Income 2,382,303 1,527,921 3 Investment, Loan And Other Income 2 56,922,369 38,884,527 4 Income From Policy Loan 3 10,446,578 5,713,439 5 Other Direct Income 3,882,109 2,253,404 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 556,287,590 405,484,403 Expenditure 8 Claim Payment (Net) 4 25,524,971 11,148,786 9 Agent commisions 5 79,645,722 68,130,444 10 Medical Fees 2,495,800 2,414,702 11 Re- Insurance Commission Expenses - - 12 Service Charges (Net) 6 4,826,542 3,571,051 13 Other Direct Expenses - - 14 Management Expenses 7 27,339,248 20,793,747 15 Income Tax 8 3,407,108 1,909,205 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) 143,239,390 107,967,935 18 Surplus Transferred to Life Fund (A-B) 413,048,200 297,516,468 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

36


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_ ! 12,353,148 11,176,975 2 k'gaL{df sldzg cfo 56,921 36,351 3 nufgL, shf{ tyf cGoaf6 cfo @ 2,844,158 2,269,005 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # - - 5 cGo k|ToIf cfo 36,455 22,207 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_ 15,290,682 13,504,538 Joo 8 bfjL e'QmfgL -v'b_ $ 1,100,000 650,000 9 clestf{ sldzg % 1,176,316 1,769,598 10 :�jf:�Yo k/�LIf0f z'Ns 98,001 132,301 11 k'gaL{df sldzg vr{ - 12 ;]�jf z'Ns -v'b_ ^ 123,531 111,770 13 cGo k|ToIf vr{ - 14 Joj:�yfkg vr{ & 758,662 676,015 15 cfos/� * 240,188 168,116 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_ 3,496,698 3,507,800 18 hLjg aLdf sf]ifdf ;f/]sf] art 11,793,984 9,996,738 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

37

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of Term Policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 12,353,148 11,176,975 2 Re- Insurance Commission Income 56,921 36,351 3 Investment, Loan And Other Income 2 2,844,158 2,269,005 4 Income From Policy Loan 3 - - 5 Other Direct Income 36,455 22,207 6 Provision for outstanding claims at the begin. Of year - - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 15,290,682 13,504,538 Expenditure 8 Claim Payment (Net) 4 1,100,000 650,000 9 Agent commisions 5 1,176,316 1,769,598 10 Medical Fees 98,001 132,301 11 Re- Insurance Commission Expenses - 12 Service Charges (Net) 6 123,531 111,770 13 Other Direct Expenses - 14 Management Expenses 7 758,662 676,015 15 Income Tax 8 240,188 168,116 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) 3,496,698 3,507,800 18 Surplus Transferred to Life Fund (A-B) 11,793,984 9,996,738 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

38


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_ ! 2,704,214 2,434,939 2 k'gaL{df sldzg cfo 4,622 5,426 3 nufgL, shf{ tyf cGoaf6 cfo @ 1,033,686 892,924 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # - - 5 cGo k|ToIf cfo 48,993 39,971 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_ 3,791,515 3,373,260 Joo 8 bfjL e'QmfgL -v'b_ $ - 100,000 9 clestf{ sldzg % 226,768 244,115 10 :�jf:�Yo k/�LIf0f z'Ns 31,849 10,767 11 k'gaL{df sldzg vr{ - 12 ;]�jf z'Ns -v'b_ ^ 27,042 24,349 13 cGo k|ToIf vr{ - 14 Joj:�yfkg vr{ & 165,891 157,033 15 cfos/� * 99,945 77,662 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_ 551,495 613,926 18 hLjg aLdf sf]ifdf ;f/]sf] art 3,240,020 2,759,334 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

39

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of special term policy For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 2,704,214 2,434,939 2 Re- Insurance Commission Income 4,622 5,426 3 Investment, Loan And Other Income 2 1,033,686 892,924 4 Income From Policy Loan 3 - - 5 Other Direct Income 48,993 39,971 6 Provision for outstanding claims at the begin. Of year - 7 Provision for unexpired risk at the beginning of the year - - Total Income (A) 3,791,515 3,373,260 Expenditure 8 Claim Payment (Net) 4 - 100,000 9 Agent commisions 5 226,768 244,115 10 Medical Fees 31,849 10,767 11 Re- Insurance Commission Expenses - 12 Service Charges (Net) 6 27,042 24,349 13 Other Direct Expenses - 14 Management Expenses 7 165,891 157,033 15 Income Tax 8 99,945 77,662 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) 551,495 613,926 18 Surplus Transferred to Life Fund (A-B) 3,240,020 2,759,334 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

40


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_ ! 94,277,937 11,987,648 2 k'gaL{df sldzg cfo 159 - 3 nufgL, shf{ tyf cGoaf6 cfo @ 7,930,853 2,891,912 4 aLdfn]�vsf]� lwtf]�df shf{af6 cfo # 779,989 695,095 5 cGo k|ToIf cfo 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_ 103,650,132 15,574,655 Joo 8 bfjL e'QmfgL -v'b_ $ 11,152,175 6,507,100 9 clestf{ sldzg % 1,885,588 239,773 10 :�jf:�Yo k/�LIf0f z'Ns 77,845 12,039 11 k'gaL{df sldzg vr{ - 12 ;]�jf z'Ns -v'b_ ^ 942,778 119,875 13 cGo k|ToIf vr{ - - 14 Joj:�yfkg vr{ & 6,230,147 837,909 15 cfos/� * 195,871 216,768 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_ 20,484,404 7,933,464 18 hLjg aLdf sf]ifdf ;f/]sf] art 83,165,728 7,641,191 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ - -






ldlt M @)&#÷!!÷!*

15

41

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of other policy (Single Premium) For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 94,277,937 11,987,648 2 Re- Insurance Commission Income 159 - 3 Investment, Loan And Other Income 2 7,930,853 2,891,912 4 Income From Policy Loan 3 779,989 695,095 5 Other Direct Income 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) 103,650,132 15,574,655 Expenditure 8 Claim Payment (Net) 4 11,152,175 6,507,100 9 Agent commisions 5 1,885,588 239,773 10 Medical Fees 77,845 12,039 11 Re- Insurance Commission Expenses - 12 Service Charges (Net) 6 942,778 119,875 13 Other Direct Expenses - - 14 Management Expenses 7 6,230,147 837,909 15 Income Tax 8 195,871 216,768 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) 20,484,404 7,933,464 18 Surplus Transferred to Life Fund (A-B) 83,165,728 7,641,191 19 Surplus/ loss Transferred to Profit & Loss Account - -






Date: 01.03.2017

!%

42


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_ ! 106,581,050 71,683,289 2 k'gaL{df sldzg cfo - - 3 nufgL, shf{ tyf cGoaf6 cfo @ 9,210,428 4,844,814 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 64,693,019 15,202,136 hDdf cfo -s_ 180,484,497 91,730,239 Joo 8 bfjL e'QmfgL -v'b_ $ 11,942,601 5,720,467 9 clestf{ sldzg % 13,950,841 9,588,014 10 :�jf:�Yo k/�LIf0f z'Ns - - 11 k'gaL{df sldzg vr{ 12 ;]�jf z'Ns -v'b_ ^ 1,065,811 716,833 13 cGo k|ToIf vr{ 206 - 14 Joj:�yfkg vr{ & 11,714,688 8,772,383 15 cfos/� * - - 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 118,033,567 64,693,019 hDdf Joo -v_ 156,707,714 89,490,716 18 hLjg aLdf sf]ifdf ;f/]sf] art - - 19 gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ 23,776,783 2,239,523






ldlt M @)&#÷!!÷!*

15

43

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL) LIMITEDRevenue Account of other policy (O.E Single Premium) For the F. Y. 2072/073

S.N. Particular Schedule Current year Previous Year INCOME 1 Net Premium 1 106,581,050 71,683,289 2 Re- Insurance Commission Income - - 3 Investment, Loan And Other Income 2 9,210,428 4,844,814 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 64,693,019 15,202,136 Total Income (A) 180,484,497 91,730,239 Expenditure 8 Claim Payment (Net) 4 11,942,601 5,720,467 9 Agent commisions 5 13,950,841 9,588,014 10 Medical Fees - - 11 Re- Insurance Commission Expenses 12 Service Charges (Net) 6 1,065,811 716,833 13 Other Direct Expenses 206 - 14 Management Expenses 7 11,714,688 8,772,383 15 Income Tax 8 - - 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 118,033,567 64,693,019 Total Expenditure (B) 156,707,714 89,490,716 18 Surplus Transferred to Life Fund (A-B) - 19 Surplus/ loss Transferred to Profit & Loss Account 23,776,783 2,239,523






Date: 01.03.2017

!%

44


NffOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)&@ >fj0f ! b]lv @)&# cfiff9 d;fGt;Ddsf] gub k|jfxsf] ljj/0f

qm=;+= ljj/0f o; jif{ ut jif{

s sf/f]af/ ;+rfngaf6 gub k|jfx M aLdf z'Ns cfDbfgL 7,070,106,357 5,416,137,435 ljnDa z'Ns cfDbfgL - - k'gaL{df z'Ns cfDbfgL - - k'gaL{df sldzg cfDbfgL 13,651,753 7,305,411 cGo k|ToIf cfDbfgL 76,952,197 54,140,099 k'gaL{dsaf6 k|fKt bfjL l/�se/�L 25,653,903 25,066,505 k'gaL{df z'Ns e'QmfgL –91,583,668_ –95,130,769_ k'gaL{df sldzg e'QmfgL - - clestf{ sldzg e'QmfgL –852,065,740_ –655,716,260_ :�jf:�Yo k/�LIf0f z'Ns e'QmfgL –17,268,949_ –16,857,966_ d[To' bfjL e'QmfgL –133,414,631_ –99,129,461_ cjlw ;dfKtL bfjL e'QmfgL –148,168,441_ –130,253,761_ cf+lzs cjlw ;dfKtL bfjL e'QmfgL –131,865,999_ –130,359,493_ ;dk{0f d"No bfjL e'QmfgL –316,230,991_ –227,214,426_ cGo bfjL e'QmfgL –6,438,150_ –6,075,897_ ;]�jf z'Ns e'QmfgL –53,040,423_ –40,665,742_ cGo k|ToIf vr{ –1,173,852_ –693,965_ Joj:�yfkg vr{ e'QmfgL –452,663,468_ –361,488,744_ sd{rf/�L af]�g; e'QmfgL –24,997,696_ –19,609,229_ cfos/� e'QmfgL –215,432,275_ –174,675,079_ Rffn' ;DklQdf -j[l4_÷sdL 34,593,530 17,819,239 Rffn' bfloTjdf j[l4÷-sdL_ –67,705,485_ 175,224,050 sf/f]af/ ;+rfngaf6 v"b gub k|jfx -s_ 4,708,907,972 3,737,821,945 v nufgL ultljwLaf6 gub k|jfx l:�y/� ;DklQdf -j[l4_ sdL –9,248,651_ –6,897,578_ ;/�sf/�L /� ;/�sf/�sf]� hdfgt k|fKt ;]�So"l/�6Ldf nufgLdf -j[l4_ sdL 901,717,000 304,400,000 a}�+s tyf ljQLo ;+:�yfsf]� d'2tL lgIf]�kdf nufgLdf -j[l4_ sdL –7,105,000,000_ –2,420,000,000_ a}�+s tyf ljQLo ;+:�yfsf]� cGo lgIf]�k nufgLdf -j[l4_ sdL 691,130,881 –1,591,402,353_ OSo"6L z]�o/� nufgLdf -j[l4_ sdL –224,206,477_ –450,104,613_ cu|flwsf/� z]�o/�÷l8j]�Gr/�df nufgLdf -j[l4_ sdL 10,696,253 –138,923,253_ cGo nufgLdf -j[l4_ sdL - - aLdfn]�vsf]� lwtf]�df shf{df -j[l4_ sdL –704,255,319_ –579,489,447_ k]�ZsL tyf cGo shf{df -j[l4_ sdL –11,993,354_ –10,596,973_ e'QmfgL k|fKt Aofh cfDbfgL -nufgLdf_ 1,368,439,805 1,217,659,769 e'QmfgL k|fKt l8le8]�G8 696,637 14,778,065 ef8f cfDbfgL - - e'QmfgL k|fKt Aofh cfDbfgL -shf{df_ 187,175,102 143,348,570 cGo ck|ToIf cfDbfgL÷vr{ 3,614,960 1,950,572 nufgL laqmLdf gfkmf 206,898,766 - nufgL ultljwLaf6 v"b gub k|jfx -v_ –4,684,334,397_ –3,515,277,241_u ljQLo >f]t sf/f]af/af6 gub k|jfx z]�o/�af6 k|fKt /�sd - - ltg{ afFsL ;fk6Ldf -j[l4_÷sdL - - cNksflng C0fdf -j[l4_÷sdL - - C0f ;fk6Ldf Aofh e'QmfgL - - nfef+z e'QmfgL –11,257,401_ –10,391,447_ ljQLo >f]t sf/f]af/af6 v"b gub k|jfx -u_ –11,257,401_ –10,391,447_ o; jif{sf] ;Dk"0f{ ultljwLaf6 v"b gub k|jfx = -s_±-v_±-u_ 13,316,174 212,153,257 gub tyf a}+sdf /x]sf] z'? df}Hbft 458,043,770 245,890,513 gub tyf a}+sdf /x]sf] clGtd df}Hbft 471,359,944 458,043,770





ldlt M @)&#÷!!÷!*

15

45

th Annual Report

LIFE INSURANCE CORPORATION (NEPAL)LTD.Cash Flow Statement For The Period Of 16th July 2015 To 15th July 2016

S.N Particulars Current year Previous yearA Cash flow from operating activities: Premium Income 7,070,106,357 5,416,137,435 Late fee Income - - Re-Insurance Income - - Re-Insurance Commission Income 13,651,753 7,305,411 Other Direct Income 76,952,197 54,140,099 Claimed recevory from Re-Insurer 25,653,903 25,066,505 Re-Insurance Premium Paid (91,583,668) (95,130,769) Re-Insurance commission payment - - Agent commission payment (852,065,740) (655,716,260) Medical examination fee payment (17,268,949) (16,857,966) Death claim payment (133,414,631) (99,129,461) Maturity claim payment (148,168,441) (130,253,761) Partial-maturity claim payment (131,865,999) (130,359,493) Surrender value claim payment (316,230,991) (227,214,426) Other claim payment (6,438,150) (6,075,897) Service fee payment (53,040,423) (40,665,742) Other Direct Expenses (1,173,852) (693,965) Management expenditure payment (452,663,468) (361,488,744) Bonus Paid to Employees (24,997,696) (19,609,229) Income Tax Paid (215,432,275) (174,675,079) (Increase)/decrese in current assets 34,593,530 17,819,239 (Increase)/decrese in current liabilities (67,705,485) 175,224,050 Net Cash Flow from Operaing activities (A) 4,708,907,972 3,737,821,945 B Cash flow from Investing Activities: (Increase) Decrease in fixed assets (9,248,651) (6,897,578) (Increase) Decrease in investment in government guaranteed securities. 901,717,000 304,400,000 (Increase) Decrease in investment in fixed deposit of bank and financial institution. (7,105,000,000) (2,420,000,000) (Increase) Decrease in investment in other deposit of bank and financial institution. 691,130,881 (1,591,402,353) Increase/Decrease in Equtity Share Investments (224,206,477) (450,104,613) (Increase) Decrease in investment in preference share/debenture 10,696,253 (138,923,253) (Increase) Decrease in other investment (Premium On Investment) - - (Increase) Decrease in loans against insurance Policy (704,255,319) (579,489,447) (Increase) Decrease in other loans and advances (11,993,354) (10,596,973) Interest Income From Investment 1,368,439,805 1,217,659,769 Dividend Received 696,637 14,778,065 Rental income - - Interest On Policy Loan 187,175,102 143,348,570 Others Indirect Income 3,614,960 1,950,572 Gain on sale of Investment 206,898,766 - Net Cash Flow from Investing Activities (B) (4,684,334,397) (3,515,277,241)C Cash flow from Financing Activities Amount received from Shares - - (Increase) Decrease in o/s debt - - Increase/Decrease in short term debt - - Interest Paid on Loan and Debt - - Dividend paid (11,257,401) (10,391,447) Net cash flow from Financing Activities ( C) (11,257,401) (10,391,447) Net cash flow from overall activities of this year = (A + B + C) 13,316,174 212,153,257 Opening Balance of Cash & Bank Balance 458,043,770 245,890,513 Closing Balance of Cash & Bank Balance 471,359,944 458,043,770





Date: 01.03.2017

!%

46

cf}+ jflif{s k|ltj]bgNf

fOkm

OG:

of]/

]G; s

kf]{/]z

g -g

]kfn

_ ln

=c

f=j= @

)&

@÷)

&#

df O

So

"6Ld

f ePs

f] kl/

jt{g

;Da

GwL l

jj/0

f

ljj/

0f

z]o

/ k"Fh

L ;+l

rt g

fkmf

k|:tf

ljt

k"Fh

Lut

z]o/

lk|ld

od

ljz]i

f cG

o hu

]8f t

yf s

f]if

dxflj

kQL

s"n /

sd

÷g

f]S;f

g af

]g; z

]o/

hu]8f

sf]if

hu]8f

sf]if

-:y

ug s

/ hu

]8f_

z

'? df

}Hbft

8

55,5

62,5

00

71,

567,

395

2

13,8

90,6

25

-

6

1,15

1,80

1

-

9

26,7

17

56,

087,

418

1,2

59,1

86,4

56

;dfo

f]�hg

jif{s

f]� v'b

gf]�S;

fg

-

321,435

,018

-

-

-

-

-

- 32

1,435

,018

h

Ljg

aLdf

sf]�if

df ;

f/�]�sf]�

-

-

-

-

-

-

-

-

-

k|:�tf

ljt

nfe

f+;

- –2

79,183

,553

_ 26

5,22

4,375

-

-

-

-

- –1

3,95

9,17

8_h

f/�L e

Psf]� a

f]�g;

z]�o/�

2

13,890

,625

-

–2

13,890

,625

_

-

-

h

f/�L e

Psf]� x

sk|b

z]�o/�

-

-

-

z

]�o/� lk

|ldod

-

-

-

-

-

-

-

-

-

:�yug

s/�

hu]�8

f -

–112

,872

_ -

-

-

-

112

,872

-

-

dxflj

kQL h

u]�8f

-

–32,14

3,50

2_

-

-

-

-

- 3

2,14

3,50

2

-

clGt

d df

}Hbft

1

,069

,453

,125

8

1,56

2,48

6

265

,224

,375

-

61,

151,

801

-

1,0

39,5

89

88,

230,

920

1,

566,

662,

296

NffO

km O

G:o

f]/]G;

skf

]{/]zg

-g]kf

n_ l

n=

cf=j

= @)

&!÷

)&

@ d

f OS

o"6L

df e

Psf] k

l/jt

{g ;

DaGw

L ljj

/0f

lj

j/0f

z]o/

k"FhL

;+lrt

gfk

mf k|:

tflj

t

k"FhLu

t z]o

/ lk

|ldod

lj

z]if

cGo

hu]8f

tyf

sf]if

dx

fljkQ

L s"n

/sd

÷gf]S

;fg

af]g;

z]o/

hu

]8f s

f]if

hu

]8f s

f]if

-:yug

s/

hu]8f

_

z'?

df}Hb

ft

658

,125

,000

7

2,81

9,85

7

197

,437

,500

-

61,

151,

801

-

684

,323

3

1,18

3,20

1

1,02

1,40

1,68

2 ;d

fof]�h

g

ji

f{sf]� v

'b gf

]�S;fg

-

24

9,04

2,17

5

-

-

-

-

-

- 24

9,04

2,17

5 h

Ljg

aLdf

sf]�if

df ;

f/�]�sf]�

-

-

-

-

-

-

-

-

k|:�tf

ljt

nfe

f+;

-

–11,25

7,401

_ 2

13,890

,625

-

-

-

-

- 20

2,63

3,22

4

hf/�L

ePs

f]� af]�g

; z

]�o/�

197

,437

,500

–2

13,890

,625

_ –1

97,4

37,5

00_

–2

13,890

,625

_h

f/�L e

Psf]� x

sk|b

z]�o/�

-

-

-

z]�o/�

lk|ld

od

-

-

-

-

-

-

:�y

ug s

/� h

u]�8f

-

–24

2,39

4_

-

-

-

-

242,39

4

-

-

dxflj

kQL h

u]�8f

-

–24,904

,217

_ -

-

-

-

- 2

4,904

,217

-

cl

Gtd

df}Hb

ft

855

,562

,500

7

1,56

7,39

5

213

,890

,625

-

61,

151,

801

-

926

,717

5

6,08

7,41

8 1

,259

,186

,456

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

47

th Annual ReportL

IFE

IN

SU

RA

NC

E C

OR

PO

RA

TIO

N (

NE

PA

L)

LT

D.

Deta

ils o

f Cha

nges

in E

puity

for t

he F

.Y. 2

072/

073

Parti

cula

rs

Shar

e Ca

pita

l Re

tain

Ear

ning

Pr

opos

ed

Capi

tal R

eser

ve

Shar

e Pr

emiu

m

Spec

ial R

eser

ve

Othe

r Res

erve

Ca

tast

roph

e To

tal A

mou

nt

Bonu

s Sha

re

(D

efer

red

Rese

rve

Ta

x Res

erve

)Op

enin

g Ba

lanc

e 8

55,5

62,5

00

71,

567,

395

2

13,8

90,6

25

-

61,

151,

801

-

9

26,7

17

56,

087,

418

1,2

59,1

86,4

56

Adju

stm

ent:

Net

pro

fit F

or th

e Ye

ar

-

321

,435

,018

-

-

-

-

-

-

3

21,4

35,0

18

Tran

sfer

red

To L

ife F

und

-

-

-

-

-

-

-

-

-

Prop

osed

Div

iden

d -

(2

79,1

83,5

53)

265

,224

,375

-

-

-

-

-

(1

3,95

9,17

8)Is

sued

Bon

us S

hare

2

13,8

90,6

25

-

(213

,890

,625

)

-

-

Is

sued

Rig

ht S

hare

-

-

-

Sh

are

Prem

ium

-

-

-

-

-

-

-

-

-

D

efer

red

Tax

Res

erve

-

(1

12,8

72)

-

-

-

-

112

,872

-

-

Ca

tast

roph

e R

eser

ve

-

(32,

143,

502)

-

-

-

-

-

3

2,14

3,50

2

-

Clos

ing

Bala

nce

1,0

69,4

53,1

25

81,

562,

486

2

65,2

24,3

75

-

61,

151,

801

-

1

,039

,589

8

8,23

0,92

0 1

,566

,662

,296

LIF

E I

NS

UR

AN

CE

CO

RP

OR

AT

ION

(N

EP

AL

) L

TD

.De

tails

of C

hang

es in

Epu

ity fo

r the

F.Y

. 207

1/07

2

Parti

cula

rs

Shar

e Ca

pita

l Re

tain

Ear

ning

Pr

opos

ed

Capi

tal R

eser

ve

Shar

e Pr

emiu

m

Spec

ial R

eser

ve

Othe

r Res

erve

Ca

tast

roph

e To

tal A

mou

nt

Bonu

s Sha

re

(D

efer

red

Rese

rve

Ta

x Res

erve

)Op

enin

g Ba

lanc

e 6

58,1

25,0

00

72,

819,

857

1

97,4

37,5

00

-

61,

151,

801

-

6

84,3

23

31,

183,

201

1,0

21,4

01,6

82

Adju

stm

ent:

Net

pro

fit F

or th

e Ye

ar

-

249

,042

,175

-

-

-

-

-

-

2

49,0

42,1

75

-

-

-

-

-

-

-

-

Prop

osed

Div

iden

d -

(1

1,25

7,40

1)

213

,890

,625

-

-

-

-

-

2

02,6

33,2

24

Issu

ed B

onus

Sha

re

197

,437

,500

(2

13,8

90,6

25)

(197

,437

,500

)

(213

,890

,625

)Is

sued

Rig

ht S

hare

-

-

-

Sh

are

Prem

ium

-

-

-

-

-

-

Def

erre

d Ta

x R

eser

ve

-

(242

,394

) -

-

-

-

2

42,3

94

-

-

Cata

stro

phe

Res

erve

-

(2

4,90

4,21

7)

-

-

-

-

-

24,

904,

217

-

Cl

osin

g Ba

lanc

e 8

55,5

62,5

00

71,

567,

395

2

13,8

90,6

25

-

61,

151,

801

-

9

26,7

17

56,

087,

418

1,2

59,1

86,4

56

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

48

cf}+ jflif{s k|ltj]bg-s

_ aLd

fz'Ns

-v

'b_

cg';

"rL–

!

qm=;

+= aL

dfs

f] ls

l;d

s"n a

Ldfz

'Ns

k'gaL

{df z

'Ns e

'Qmfg

L -C

eded

_ aL

dfz

'Ns -v

"b_

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

1 ;

fjlw

s

2,812

,476,25

8 2

,008

,967

,584

8

,706

,173

6

,159,83

6 2

,803

,770,08

5 2

,002

,807

,748

2 c

lu|d

e'Qmfg

L ;fj

lws

633

,139

,697

6

07,242,00

0

656,36

0

610

,788

6

32,4

83,337

6

06,631

,212

3

?kf

Gtl/�t

;fj

lws

2

,840,19

9,34

8 2

,279,83

8,458

1

7,012

,022

1

5,4

66,134

2

,823

,187

,326

2

,264

,372,32

4

4

cfh

Ljg

4

87,244,299

3

61,809

,663

4

,590

,068

4

,704

,551

4

82,654,231

3

57,105

,112

5

Dof

bL

12,515

,889

1

1,37

1,05

1

162

,741

1

94,076

1

2,35

3,14

8

11,17

6,97

5

6 ljz

]�if Do

fbL

2,716

,722

2

,454,4

97

12,508

1

9,558

2

,704

,214

2

,434

,939

7

cGo

hLj

g aL

d -

Psn

aLd

fz'Ns

_

94,279,422

1

1,98

8,65

9

1,4

85

1,011

9

4,277,937

1

1,98

7,648

8 c

Go h

Ljg

aLdf

-a}�b]�l

zs

/�f]�h

uf/�

Psn

aLd

fz'Ns

_

18

7,5

34,722

1

32,4

65,5

23

80,95

3,67

2

60,782

,234

1

06,5

81,050

7

1,68

3,28

9

hDd

f 7

,070

,106

,357

5

,416

,137

,435

1

12,0

95,0

29

87,

938,1

88

6,9

58,0

11,3

28

5,3

28,1

99,2

47

-v_

s"n

aLd

fz'Ns

qm=;

+= aL

dfs

f] ls

l;d

k|ToI

f aL

dfz

'Ns

k|fKt

k'ga

L{df z

'Ns -

acce

pted

_ s

"n a

Ldfz

'Ns

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

1 ;

fjlw

s

2,812

,476,25

8 2

,008

,967

,584

-

-

2,81

2,476,25

8 2

,008

,967

,584

2

clu

|d e'Qmfg

L ;fj

lws

6

33,139

,697

6

07,242,00

0

-

-

6

33,139

,697

6

07,242,00

0 3

?kf

Gtl/�t

;fj

lws

2,840,19

9,34

8 2

,279,83

8,458

-

-

2,84

0,19

9,34

8 2

,279,83

8,458

4

cfh

Ljg

487

,244,299

3

61,809

,663

-

-

487

,244,299

3

61,809

,663

5

Dof

bL

12,515

,889

1

1,37

1,05

1

-

12,515

,889

1

1,37

1,05

1 6

ljz

]�if Do

fbL

2,716

,722

2

,454,4

97

-

-

2,716

,722

2

,454,4

97

7

cGo

hLj

g aL

d -

Psn

aLd

fz'Ns

_

94,279,422

1

1,98

8,65

9

-

94,279,422

1

1,98

8,65

9 8

cGo

hLj

g aL

df -

a}�b]�l

zs

/�f]�h

uf/�

Psn

aLd

fz'Ns

_

1

87,5

34,722

1

32,4

65,5

23

187

,534

,722

1

32,4

65,5

23

h

Ddf

7,0

70,1

06,3

57

5,4

16,1

37,4

35

-

-

7,

070,

106,

357

5,416

,137

,435

-u_

k|To

If a

Ldfz

'Ns

qm=;

+= aL

dfs

f] ls

l;d

k|yd a

if{sf] aL

dfz

'Ns

gjLs

/0f aL

dfz

'Ns

Psn a

Ldfz

'Ns

hDd

f k|T

oIf aL

dfz

'Ns

o; a

if{ ut

aif{

o; a

if{ ut

aif{

o; a

if{ ut

aif{

o; a

if{ ut

aif{

1 ;

fjlw

s

1,000

,924

,489

7

70,843,33

5 1

,811

,551

,769

1

,238

,124

,249

-

-

2,81

2,476

,258

2,00

8,96

7,58

4

2 c

lu|d

e'Qmfg

L ;fj

lws

57,67

4,4

36

75,

096,38

8

575

,465

,261

5

32,145,

612

-

-

6

33,139

,697

6

07,242,00

0 3

?kf

Gtl/�t

;fj

lws

7

45,

202,406

6

48,93

5,455

2

,094

,996

,942

1,63

0,90

3,00

3

-

-

2,84

0,19

9,34

8 2

,279

,838

,458

4

cfh

Ljg

1

71,890

,729

1

72,689

,062

3

15,353

,570

1

89,120

,601

-

-

487

,244,299

3

61,809

,663

5

Dof

bL

7,126

,427

6

,846,19

6

5,389

,462

4

,524

,855

-

-

1

2,51

5,88

9

11,37

1,05

1 6

ljz

]�if Do

fbL

570

,575

3

19,028

2

,146,14

7

2,135

,469

-

-

2

,716

,722

2

,454

,497

7

cGo

hLj

g aL

d -P

sn

aLd

fz'Ns

_

-

-

-

-

94,279

,422

1

1,98

8,65

9

94,279

,422

1

1,98

8,65

9 8

cGo

hLj

g aL

df -

a}�b]�lz

s /�

f]�huf

/�

P

sn

aLd

fz'Ns

_

-

-

-

-

18

7,53

4,722

13

2,465

,523

1

87,5

34,722

1

32,4

65,5

23

h

Ddf

1,9

83,3

89,0

62

1,6

74,7

29,4

64

4,8

04,9

03,1

51

3,5

96,9

53,7

89

281

,814

,144

1

44,4

54,1

82

7,0

70,1

06,3

57

5,4

16,1

37,4

35

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

49

th Annual Report

(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

1,0

00,9

24,4

89

770

,843

,335

1

,811

,551

,769

1

,238

,124

,249

-

-

2

,812

,476

,258

2

,008

,967

,584

2

Antic

ipat

ed E

ndow

men

t 5

7,67

4,43

6

75,

096,

388

5

75,4

65,2

61

532

,145

,612

-

-

6

33,1

39,6

97

607

,242

,000

3

Mod

ified

End

owm

ent

745

,202

,406

6

48,9

35,4

55

2,0

94,9

96,9

42

1,6

30,9

03,0

03

-

-

2,8

40,1

99,3

48

2,2

79,8

38,4

58

4 W

hole

Life

Pol

icy

171

,890

,729

1

72,6

89,0

62

315

,353

,570

1

89,1

20,6

01

-

-

487

,244

,299

3

61,8

09,6

63

5 Te

rm In

sura

nce

Polic

y 7

,126

,427

6

,846

,196

5

,389

,462

4

,524

,855

-

-

1

2,51

5,88

9

11,

371,

051

6 Sp

ecia

l Ter

m P

olic

y 5

70,5

75

319

,028

2

,146

,147

2

,135

,469

-

-

2

,716

,722

2

,454

,497

7

Oth

er L

ife In

sura

nce

(End

owm

ent S

ingl

e Pr

emiu

m)

-

-

-

-

94,

279,

422

1

1,98

8,65

9

94,

279,

422

1

1,98

8,65

9 8

Oth

er L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) -

-

-

-

1

87,5

34,7

22

132

,465

,523

1

87,5

34,7

22

132

,465

,523

Tota

l 1

,983

,389

,062

1

,674

,729

,464

4

,804

,903

,151

3

,596

,953

,789

2

81,8

14,1

44

144

,454

,182

7

,070

,106

,357

5

,416

,137

,435

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 2

,812

,476

,258

2

,008

,967

,584

8

,706

,173

6

,159

,836

2

,803

,770

,085

2

,002

,807

,748

2

Antic

ipat

ed E

ndow

men

t 6

33,1

39,6

97

607

,242

,000

6

56,3

60

610

,788

6

32,4

83,3

37

606

,631

,212

3

Mod

ified

End

owm

ent

2,8

40,1

99,3

48

2,2

79,8

38,4

58

17,

012,

022

1

5,46

6,13

4

2,8

23,1

87,3

26

2,2

64,3

72,3

24

4 W

hole

Life

Pol

icy

487

,244

,299

3

61,8

09,6

63

4,5

90,0

68

4,7

04,5

51

482

,654

,231

3

57,1

05,1

12

5 Te

rm In

sura

nce

Polic

y 1

2,51

5,88

9

11,

371,

051

1

62,7

41

194

,076

1

2,35

3,14

8

11,

176,

975

6 Sp

ecia

l Ter

m P

olic

y 2

,716

,722

2

,454

,497

1

2,50

8

19,

558

2

,704

,214

2

,434

,939

7

Oth

er L

ife In

sura

nce

(End

owm

ent

Si

ngle

Pre

miu

m)

94,

279,

422

1

1,98

8,65

9

1,4

85

1,0

11

94,

277,

937

1

1,98

7,64

8 8

Oth

er L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) 1

87,5

34,7

22

132

,465

,523

8

0,95

3,67

2

60,

782,

234

1

06,5

81,0

50

71,

683,

289

To

tal

7,0

70,1

06,3

57

5,4

16,1

37,4

35

112

,095

,029

8

7,93

8,18

8

6,9

58,0

11,3

28

5,3

28,1

99,2

47

(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 2

,812

,476

,258

2

,008

,967

,584

-

-

2

,812

,476

,258

2

,008

,967

,584

2

Antic

ipat

ed E

ndow

men

t 6

33,1

39,6

97

607

,242

,000

-

-

6

33,1

39,6

97

607

,242

,000

3

Mod

ified

End

owm

ent

2,8

40,1

99,3

48

2,2

79,8

38,4

58

-

-

2,8

40,1

99,3

48

2,2

79,8

38,4

58

4 W

hole

Life

Pol

icy

487

,244

,299

3

61,8

09,6

63

-

-

487

,244

,299

3

61,8

09,6

63

5 Te

rm In

sura

nce

Polic

y 1

2,51

5,88

9

11,

371,

051

-

-

1

2,51

5,88

9

11,

371,

051

6 Sp

ecia

l Ter

m P

olic

y 2

,716

,722

2

,454

,497

-

-

2

,716

,722

2

,454

,497

7

Oth

er L

ife In

sura

nce

(End

owm

ent

Si

ngle

Pre

miu

m)

94,

279,

422

1

1,98

8,65

9

-

-

94,

279,

422

1

1,98

8,65

9 8

Oth

er L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) 1

87,5

34,7

22

132

,465

,523

-

-

1

87,5

34,7

22

132

,465

,523

Tota

l 7

,070

,106

,357

5

,416

,137

,435

-

-

7

,070

,106

,357

5

,416

,137

,435

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

50


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 106,071,740 145,481,456 2 jfl0fHo a}�+ssf]� d'2tL lgIf]�kaf6 cfo 934,973,131 809,901,412 3 ljsf; a}�+ssf]� d'2tL lgIf]�kaf6 cfo 86,847,065 95,350,443 4 gful/�s nufgL of]�hgfaf6 cfo 1,280,000 1,443,800 5 ljQLo ;+:�yfsf]� d'2tL lgIf]�kaf6 cfo 48,910,238 55,754,159 6 cfjf; ljQ sDkgLsf]� ;fwf/�0f z]�o/�af6 nfef+z - - 7 cGo klAns sDkgLsf]� ;fwf/�0f z]�o/�af6 nfef+z 696,637 14,773,775 8 a}�+s tyf ljQLo ;+:�yfsf]� cu|flwsf/� z]�o/�af6 nfef+z - 4,289 9 a}�+s tyf ljQLo ;+:�yfsf]� l8j]�Gr/�af6 cfo 99,220,720 97,118,012 10 cGo af6 cfo 20,858,885 18,519,160 11 shf{af6 cfo - - 12 cGo lgIf]�kaf6 -d'2tL afx]�s_ cfo 27,904,634 14,945,580 13 nufgL laqmLdf gfkmf 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 –6,177,782_ –7,346,858_15 l:�y/� ;DkQL laqmLaf6 gfkmf - 351 Go"g l:�y/� ;DkQL laqmLaf6 gf]�S;fg –304,237_ –12,145_16 vftf ckn]�vg 17 cl3Nnf jif{;+u ;DalGwt cfo - 284,298 18 cGo cfo - z]�o/� sf/�f]�jf/�_ 15,400 36,270 19 cGo cfo - z]�o/� sf/�f]�jf/�_ 3,217,499 1,300,004 20 pkbfg sf]�ifdf Aofh 382,062 330,000 21 OG:�of]�/�]�G; k'naf6 k|fKt cfo - - hDdf 1,530,794,756 1,247,884,006 nufgL, shf{ tyf cGoaf6 cfosf] afF8kmfF8 gfkmf gf]�S;fg lx;fadf ;f/�]�sf]� 74,841,319 65,069,802 ;fjlws hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 600,195,348 488,656,302 clu|d e'QmfgL ;fjlws hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 216,338,793 197,859,030 ?kfGtl/�t ;fjlws hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 561,477,803 446,515,692 cfhLjg hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 56,922,369 38,884,527 DofbL hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 2,844,158 2,269,005 ljz]�if DofbL hLjg aLdfsf]� cfo Aoo lx;fjdf ;f/�]�sf]� 1,033,686 892,924 cGo HfLjg aLdf -Psn aLdfz'Ns_ sf]� cfo Aoo lx;fjdf ;f/�]�sf]� 7,930,853 2,891,911 cGo hLjg aLdf -a}�b]�lzs /�f]�huf/� Psn aLdfz'Ns_ sf]� cfo Aoo lx;fjdf ;f/�]�sf]� 9,210,428 4,844,814 hDdf 1,530,794,756 1,247,884,006





ldlt M @)&#÷!!÷!*

15

51

th Annual Report

Income from Investment, Loans and Other Sources Schedule -2

S.N. Particulars Current year Previous year1 Income from Government Securities & Securities Guaranteed by Govt. 106,071,740 145,481,456 2 Income from fixed deposit of Commercial Banks 934,973,131 809,901,412 3 Income from fixed deposit of Development Banks 86,847,065 95,350,443 4 Income from Investment in CIT/ Mutual Fund 1,280,000 1,443,800 5 Income from fixed deposit of Finance Company 48,910,238 55,754,159 6 Dividend income from the ordinary shares of housing finance company - - 7 Dividend income from ordinary shares of other public company 696,637 14,773,775 8 Dividend income from preference share of bank and financial institution - 4,289 9 Income from debenture of bank and financial institution 99,220,720 97,118,012 10 Income from Others (Loans& Advances) 20,858,885 18,519,160 11 Income from Loan - - 12 Income from Other Deposit (Except Fixed) 27,904,634 14,945,580 13 Profit on sale of investment 206,898,766 - Less: Loss on sale of Investment - - 14 Profit on purchase of investment - - Less: Loss on purchase of Investment (6,177,782) (7,346,858)15 Profit on sale of fixed assets - 351 Less: Loss on sale of Fixed Assets (304,237) (12,145)16 Written Off/ Amortized 17 Incomes related to Previous year's - 284,298 18 Other Income (Share Transaction) 15,400 36,270 19 Other Miscellaneous Income 3,217,499 1,300,004 20 Interest on Gratuity Fund 382,062 330,000 21 Income from Insurance Pool - - Total 1,530,794,756 1,247,884,006 Appopriation of income from investment, loan and others Transferred to profit and loss account 74,841,319 65,069,802 Transferred to Reveue Account of Endowment 600,195,348 488,656,302 Transferred to Revenue Account of Anticipated Endowment 216,338,793 197,859,030 Transferred to Revenue Account of Modified Endowment 561,477,803 446,515,692 Transferred to Revenue Account of Whole Life Policy 56,922,369 38,884,527 Transferred to Revenue Account of Term Insurance Policy 2,844,158 2,269,005 Transferred to Revenue Account of SpecialTerm Insurance Policy 1,033,686 892,924 Transferred to Revenue Account of Other Insurance Policy 7,930,853 2,891,911 Transferred to Revenue Account of Other Insurance Policy O.E 9,210,428 4,844,814 Total 1,530,794,756 1,247,884,006





Date: 01.03.2017

!%

52

cf}+ jflif{s k|ltj]bgaLd

fn]v

sf] lw

tf]d

f s

hf{ / c

fo

cg';

"rL–

#

qm=;

+= aL

dfs

f] ls

l;d

aLdfn

]vs

f] lw

tf]df s

hf{

aLdfn

]vs

f] lw

tf]df s

hf{a

f6 c

fo

o; a

if{ ut

aif{

o; a

if{ ut

aif{

1 ;

fjlw

s

1,210

,181,550

986,728,689

120,5

52,210

9

8,974,853

2

clu

|d e

'Qmfg

L ;fj

lws

3

52,770,4

28

288,192,792

34,878,4

34

27,977,4

13

3

?kf

Gtl/�t

;fj

lws

1

,339,928,862

979,860,078

125,092,609

88,193,102

4

cfh

Ljg

127,647,5

79

72,780,948

10,4

46,5

78

5,713

,439

5

Dofb

L

-

-

-

-

6

ljz

]�if Do

fbL

-

-

-

-

7

cGo

hLj

g aLd

-Ps

n a

Ldfz

'Ns_

9

,229,889

8,028,5

54

779,989

695,095

8

cGo

hLj

g aLd

f -a

}�b]�lz

s /�

f]�huf

/� Ps

n a

Ldfz

'Ns_

-

-

-

-

h

Ddf

3,0

39,7

58,3

08

2,3

35,5

91,0

61

291

,749,

820

2

21,5

53,9

03

bfj

L e

'Qmfg

L c

g';"r

L –

$

qm=;

+= aL

dfs

f] ls

l;d

d[To

' bfj

L e

'Qmfg

L cjlw

;dfKtL

bfj

L e

'Qmfg

L cf+lz

s c

jlw

;dfKtL

bfj

L e

'Qmfg

L ;dk{0

f d"No

bfj

L e

'Qmfg

L

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

1 ;

fjlw

s

47,654,081

3

2,191,249

96,858,909 1

11,813

,415

-

-

15

0,947,237

99,022,309

2

clu

|d e

'Qmfg

L ;fj

lws

4,862,606

5,388,024

11,650,778

4,220,4

47

131,866,000 1

30,359,4

94

40,386,722

31,935,095

3

?kf

Gtl/�t

;fj

lws

3

7,301,541

3

8,799,314

2

8,5

06,5

80

7,712

,800

-

-

109,711

,960

87,5

40,885

4

cfh

Ljg

1

2,639,900

2,4

32,650

-

-

-

-

15,185,071

8

,716

,136

5

Dofb

L

1,100,000

650,000

-

-

-

-

-

-

6

ljz

]�if Do

fbL

-

1

00,000

-

-

-

-

7

cGo

hLj

g aL

d -P

sn

aLd

fz'Ns

_

-

-

11,152,175

6,5

07,100

-

-

8

cGo

hLj

g aLd

f -a

}�b]�lz

s

/�

f]�huf

/� Ps

n a

Ldfz

'Ns_

2

9,856,5

04

19,5

68,222

-

-

-

-

-

-

hDd

f

133

,414

,631

9

9,12

9,459

1

48,1

68,4

42

1

30,2

53,7

62

131

,866

,000

1

30,3

59,4

94

316

,230

,991

2

27,2

14,4

26

qm=;

+= aL

dfs

f] ls

l;d

cGo

bfj

L e

'Qmfg

L s

"n b

fjL e

'Qmfg

L s

"n b

fjL e

'Qmfg

Ldf k'g

aL{ds

sf] lx

:;f

bfjL e

'Qmfg

L -v

'b_

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

1 ;

fjlw

s

2,4

03,5

27

3,207,170

297,863,754

246,234,143

1,4

37,5

00

4,325,000

296,4

26,254

241,909,143

2

clu

|d e

'Qmfg

L ;fj

lws

2,5

55,643

1,717

,618

1

91,321,749 1

73,620,678

-

2

50,000

191,321,749

173,370,678

3

?kf

Gtl/�t

;fj

lws

1,4

78,981

1

,151,11

0

176,999,062 1

35,204,109

4,002,5

00

6,643,750

172,996,5

62

128,5

60,359

4

cfh

Ljg

-

-

27,824,971

1

1,14

8,786

2,300,000

-

2

5,5

24,971

1

1,14

8,786

5

Dofb

L

-

-

1,100,000

650,000

-

-

1,100,000

650,000

6

ljz

]�if Do

fbL

-

-

-

1

00,000

-

-

-

1

00,000

7

cGo

hLj

g aL

d -

Psn

aLd

fz'Ns

_

-

-

11,152,175

6,5

07,100

-

-

11,15

2,175

6,5

07,100

8

cGo

hLj

g aLd

f -a

}�b]�lz

s

/�

f]�huf

/� Ps

n a

Ldfz

'Ns_

-

2

9,856,5

04

19,5

68,222

17,913

,903

13,847,755

11,942,601

5

,720,4

67

h

Ddf

6,4

38,1

51

6,0

75,

898

7

36,1

18,2

14

593

,033

,039

2

5,65

3,90

3

25,

066,

505

7

10,4

64,3

11

567

,966

,534

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

53

th Annual ReportPo

licy

Loan

And

Inco

me

from

Pol

icy

Loan

Sc

hedu

le -

3

S.N

. Ty

pes

of In

sura

nce

Polic

y Lo

an

Inco

me

From

Pol

icy

Loan

curr

ent y

ear

Prev

ious

yea

r cu

rren

t yea

r Pr

evio

us y

ear

1 En

dow

men

t 1

,210

,181

,550

9

86,7

28,6

89

120

,552

,210

9

8,97

4,85

3 2

Antic

ipat

ed E

ndow

men

t 3

52,7

70,4

28

288

,192

,792

3

4,87

8,43

4

27,

977,

413

3 M

odifi

ed E

ndow

men

t 1

,339

,928

,862

9

79,8

60,0

78

125

,092

,609

8

8,19

3,10

2 4

Who

le L

ife P

olic

y 1

27,6

47,5

79

72,

780,

948

1

0,44

6,57

8

5,7

13,4

39

5 Te

rm In

sura

nce

Polic

y -

-

-

-

6 Sp

ecia

l Ter

m P

olic

y -

-

-

-

7 O

ther

Life

Insu

ranc

e (E

ndow

men

t Sin

gle

Prem

ium

) 9

,229

,889

8

,028

,554

7

79,9

89

695

,095

8

Oth

er L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) -

-

-

-

To

tal

3,0

39,7

58,3

08

2,3

35,5

91,0

61

291

,749

,820

2

21,5

53,9

03

Clai

m P

aid

Sche

dule

- 4

S.N

. Ty

pes

of In

sura

nce

Dea

th c

laim

pay

men

t M

atur

ity c

laim

pai

d Pa

rtia

l M

atur

ity c

laim

pai

d Su

rren

der v

alue

cla

im p

aid

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 4

7,65

4,08

1

32,

191,

249

9

6,85

8,90

9

111

,813

,415

-

-

1

50,9

47,2

37

99,

022,

309

2 An

ticip

ated

End

owm

ent

4,8

62,6

06

5,3

88,0

24

11,

650,

778

4

,220

,447

1

31,8

66,0

00

130

,359

,494

4

0,38

6,72

2

31,

935,

095

3 M

odifi

ed E

ndow

men

t 3

7,30

1,54

1

38,

799,

314

2

8,50

6,58

0

7,7

12,8

00

-

-

109

,711

,960

8

7,54

0,88

5 4

Who

le L

ife P

olic

y 1

2,63

9,90

0

2,4

32,6

50

-

-

-

-

15,

185,

071

8

,716

,136

5

Term

Insu

ranc

e Po

licy

1,1

00,0

00

650

,000

-

-

-

-

-

-

6 Sp

ecia

l Ter

m P

olic

y -

100

,000

-

-

-

-

7 Ot

her L

ife In

sura

nce (

Endo

wmen

t Sin

gle P

rem

ium

) -

-

1

1,15

2,17

5

6,5

07,1

00

-

-

8

Othe

r Life

Insu

ranc

e (Si

ngle

Prem

ium

O.E

) 2

9,85

6,50

4

19,

568,

222

-

-

-

-

-

-

To

tal

133

,414

,631

9

9,12

9,45

9

148

,168

,442

1

30,2

53,7

62

131

,866

,000

1

30,3

59,4

94

316

,230

,991

2

27,2

14,4

26

S.N

. Ty

pes

of In

sura

nce

Oth

er c

laim

Pai

d To

tal C

laim

Pai

d To

tal R

I Sha

re in

N

et c

laim

Pai

d

D

eath

Cla

im P

aid

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

,403

,527

3

,207

,170

2

97,8

63,7

54

246

,234

,143

1

,437

,500

4

,325

,000

2

96,4

26,2

54

241

,909

,143

2

Antic

ipat

ed E

ndow

men

t 2

,555

,643

1

,717

,618

1

91,3

21,7

49

173

,620

,678

-

250

,000

1

91,3

21,7

49

173

,370

,678

3

Mod

ified

End

owm

ent

1,4

78,9

81

1,1

51,1

10

176

,999

,062

1

35,2

04,1

09

4,0

02,5

00

6,6

43,7

50

172

,996

,562

1

28,5

60,3

59

4 W

hole

Life

Pol

icy

-

-

27,

824,

971

1

1,14

8,78

6

2,3

00,0

00

-

2

5,52

4,97

1

11,

148,

786

5 Te

rm In

sura

nce

Polic

y -

-

1

,100

,000

6

50,0

00

-

-

1,1

00,0

00

650

,000

6

Spec

ial T

erm

Pol

icy

-

-

-

1

00,0

00

-

-

-

1

00,0

00

7 Ot

her L

ife In

sura

nce (

Endo

wmen

t Sin

gle P

rem

ium

) -

-

1

1,15

2,17

5

6,5

07,1

00

-

-

11,

152,

175

6

,507

,100

8

Othe

r Life

Insu

ranc

e (Si

ngle

Prem

ium

O.E

) -

2

9,85

6,50

4

19,

568,

222

1

7,91

3,90

3

13,

847,

755

1

1,94

2,60

1

5,7

20,4

67

To

tal

6,4

38,1

51

6,0

75,8

98

736

,118

,214

5

93,0

33,0

39

25,

653,

903

2

5,06

6,50

5

710

,464

,311

5

67,9

66,5

34

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

54

cf}+ jflif{s k|ltj]bgc

les

tf{ s

ldz

g

cg';

"rL–

%

qm=;+=

aL

dfsf

] lsl;

d k|y

d ai

f{sf] a

Ldfz

'Nsdf

cle

stf{ s

ldzg

gj

Ls/0

f aLd

fz'Ns

df c

lest

f{ sld

zg

Psn

aLdf

z'Nsd

f cle

stf{ s

ldzg

hD

df c

lest

f{ sld

zg

o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{1

;fj

lws

2

15,951

,896

1

78,810

,703

1

60,5

17,4

12 1

07,330

,630

-

-

37

6,469

,308

28

6,14

1,33

3 2

clu

|d e'Q

mfgL ;

fjlw

s

13,98

0,02

2

17,91

7,08

1

31,17

9,24

3

29,875

,704

-

-

45,

159,26

5 4

7,79

2,78

5 3

?kf

Gtl/�t

;fj

lws

156

,641,97

3 14

8,97

0,30

6

163,64

7,12

0

127,16

4,711

-

-

32

0,28

9,09

3 2

76,135

,017

4

cfh

Ljg

41,16

6,05

4

41,458

,926

3

8,479

,668

2

6,67

1,51

8

-

-

79,645,

722

6

8,13

0,444

5 D

ofbL

1

,014

,337

1

,625

,237

1

61,980

1

44,361

-

-

1

,176

,316

1

,769

,598

6

ljz

]�if Do

fbL

105

,413

7

9,475

1

21,354

1

64,640

-

-

2

26,768

2

44,115

7

cGo

hLj

g aL

d -

Psn

aLdf

z'Ns_

-

-

-

-

1

,885

,588

2

39,773

1

,885

,588

2

39,773

8

cGo

hLj

g aL

df -

a}�b]�lz

s

/�

f]�huf

/� Ps

n a

Ldfz

'Ns_

-

-

13

,950

,841

9

,588

,014

1

3,95

0,84

1

9,5

88,014

h

Ddf

4

28,8

59,6

95

388

,861

,727

3

94,1

06,7

78

291

,351

,564

1

5,83

6,42

9

9,8

27,7

87

838

,802

,902

6

90,0

41,0

79

;]jf

z'Ns

-v

'b_

cg';

"rL–

^

qm=;

+= aL

dfs

f] ls

l;d

s"n

;]jf z

'Ns

s"n

;]jf z

'Nsdf

k'ga

L{ds

sf] l

x:;f

;]j

f z'Ns

-v"b_

o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{1

;fj

lws

2

8,12

4,763

2

0,08

9,67

6

87,06

2

61,59

8

28,03

7,70

0

20,02

8,07

7 2

clu

|d e'Q

mfgL ;

fjlw

s

6,331

,397

6

,072

,420

6

,564

6

,108

6

,324

,833

6

,066

,312

3

?kf

Gtl/�t

;fj

lws

28,401

,993

2

2,79

8,38

5

170

,120

1

54,661

2

8,23

1,87

4

22,64

3,72

3 4

cfh

Ljg

4

,872

,443

3

,618

,097

4

5,90

1

47,04

6

4,826

,542

3

,571

,051

5

Dof

bL

125

,159

1

13,711

1

,627

1

,941

1

23,5

31

111

,770

6

ljz

]�if Do

fbL

27,16

7

24,5

45

1

25

196

2

7,04

2

24,349

7 c

Go h

Ljg

aLd

- Ps

n a

Ldfz

'Ns_

9

42,79

4

119

,887

1

5

10

9

42,77

8

119

,876

8

cGo

hLj

g aL

df -

a}�b]�lz

s /�

f]�huf

/� Ps

n a

Ldfz

'Ns _

1

,875

,347

1

,324

,655

8

09,5

37

607

,822

1

,065

,811

7

16,833

h

Ddf

7

0,70

1,06

4

54,

161,

374

1

,120

,950

8

79,3

82

69,

580,

112

5

3,28

1,99

2

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

55

th Annual ReportAg

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

15,9

51,8

96

178

,810

,703

1

60,5

17,4

12

107

,330

,630

-

-

3

76,4

69,3

08

286

,141

,333

2 An

ticip

ated

End

owm

ent

13,

980,

022

1

7,91

7,08

1

31,

179,

243

2

9,87

5,70

4

-

-

45,

159,

265

4

7,79

2,78

5

3 M

odifi

ed E

ndow

men

t 1

56,6

41,9

73

148

,970

,306

1

63,6

47,1

20

127

,164

,711

-

-

3

20,2

89,0

93

276

,135

,017

4 W

hole

Life

Pol

icy

41,

166,

054

4

1,45

8,92

6

38,

479,

668

2

6,67

1,51

8

-

-

79,

645,

722

6

8,13

0,44

4

5 Te

rm In

sura

nce

Polic

y 1

,014

,337

1

,625

,237

1

61,9

80

144

,361

-

-

1

,176

,316

1

,769

,598

6 Sp

ecia

l Ter

m P

olic

y 1

05,4

13

79,

475

1

21,3

54

164

,640

-

-

2

26,7

68

244

,115

7 Ot

her L

ife In

sura

nce

(End

owm

ent S

ingl

e Pr

emiu

m)

-

-

-

-

1,8

85,5

88

239

,773

1

,885

,588

2

39,7

73

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

)

-

-

1

3,95

0,84

1

9,5

88,0

14

13,

950,

841

9

,588

,014

To

tal

428

,859

,695

3

88,8

61,7

27

394

,106

,778

2

91,3

51,5

64

15,

836,

429

9

,827

,787

8

38,8

02,9

02

690

,041

,079

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

Gros

s Se

rvic

e Fe

e

Net S

ervi

ce F

ee

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

8,12

4,76

3

20,

089,

676

8

7,06

2

61,

598

2

8,03

7,70

0

20,

028,

077

2 An

ticip

ated

End

owm

ent

6,3

31,3

97

6,0

72,4

20

6,5

64

6,1

08

6,3

24,8

33

6,0

66,3

12

3 M

odifi

ed E

ndow

men

t 2

8,40

1,99

3

22,

798,

385

1

70,1

20

154

,661

2

8,23

1,87

4

22,

643,

723

4 W

hole

Life

Pol

icy

4,8

72,4

43

3,6

18,0

97

45,

901

4

7,04

6

4,8

26,5

42

3,5

71,0

51

5 Te

rm In

sura

nce

Polic

y 1

25,1

59

113

,711

1

,627

1

,941

1

23,5

31

111

,770

6 Sp

ecia

l Ter

m P

olic

y 2

7,16

7

24,

545

1

25

196

2

7,04

2

24,

349

7 Ot

her L

ife In

sura

nce

(End

owm

ent S

ingl

e Pr

emiu

m)

942

,794

1

19,8

87

15

1

0

942

,778

1

19,8

76

8 Ot

her L

ife In

sura

nce

(Sin

gle

Prem

ium

O.E

) 1

,875

,347

1

,324

,655

8

09,5

37

607

,822

1

,065

,811

7

16,8

33

To

tal

70,

701,

064

5

4,16

1,37

4

1,1

20,9

50

879

,382

6

9,58

0,11

2

53,

281,

992

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

56


Joj:yfkg vr{ cg';"rL– &

qm=;+= ljj/0f o; aif{ ut aif{1 sd{rf/�L vr{ -cg';"rL &=! adf]�lhd_ 94,921,994 82,231,437 2 3/� ef8f 20,638,413 15,943,225 3 lah'nL tyf kfgL 2,030,678 2,167,955 4 dd{t tyf ;Def/� -s_ ejg 3,711 83,016 -v_ ;jf/�L ;fwg 591,715 551,887 -u_ sfof{no pks/�0f 1,389,226 652,956 -3_ cGo - - 5 ;+rf/� 2,469,450 2,348,489 6 5kfO{ tyf d;nGb 8,362,140 8,252,260 7 vr{ x'g]� sfof{no ;fdfg 151,017 201,676 8 kl/�jxg 2,870,336 3,504,145 9 e|d0f vr{ -eQf ;d]�t_ -s_ cfGtl/�s 566,485 325,249 -v_ j}�b]�lzs 410,438 428,565 10 clestf{ tflnd 2,156,201 3,604,229 11 clestf{ cGo 280,072,776 209,456,698 12 aLdfz'Ns 1,284,099 1,200,057 13 ;'/�Iff vr{ 669,865 383,760 14 sfg"gL tyf k/�fdz{ z'Ns 375,292 198,833 15 kq klqsf tyf k':�ts 138,535 134,185 16 lj1fkg tyf k|rf/� k|;f/� 7,573,367 6,650,429 17 Jofkf/� k|j4{g - - 18 cltyL ;Tsf/� 312,500 300,000 19 rGbf tyf pkxf/� 519,620 1,500,000 20 ;+rfns ;ldlt ;DaGwL vr{ -s_ a}�7s eQf 165,000 169,000 -v_ cGo 2,041,729 1,647,883 21 cGo ;ldlt÷pk–;ldlt ;DaGwL vr{ - - -s_ a}�7s eQf 50,000 47,500 -v_ cGo 303,737 287,356 22 ;fwf/�0f ;ef ;DaGwL vr{ 483,818 427,780 23 -s_ aLdfÍLo ;]�jf z'Ns 638,118 1,010,353 -v_ aLdfÍLo vr{ - - 24 n]�vf k/�LIf0f ;DaGwL vr{ - - -s_ n]�vf k/�LIf0f z'Ns 226,000 197,750 -v_ s/� n]�vf k/�LIf0f z'Ns 113,000 146,900 -u_ lj:�t[t n]�vf k/�LIf0f k|ltj]�bg z'Ns 113,000 149,725 -3_ cGo z'Ns - 11,224 -ª_ cfGtl/�s n]�vf k/�LIf0f vr{ 565,000 378,550 -r_ cGo vr{ 362,545 281,272 25 Aofh - - 26 a}�s rfh{ 117,173 157,904 27 z'Ns tyf b:�t"/� 4,254,118 4,254,118 28 Xf; s§L 7,642,640 8,329,953 29 x'nfs l6s6 2,573,454 2,616,734

15

57

th Annual Report

A) Management Expenditure Schedule -7

S.N. Particulars Current year Previous year1 Employee Expenses (Anx 7.1) 94,921,994 82,231,437 2 Building Rent 20,638,413 15,943,225 3 Water & Electricity 2,030,678 2,167,955 4 Repair & Maintenance A. Building 3,711 83,016 B. Vehicle 591,715 551,887 C. Office Equipment 1,389,226 652,956 D. Others - - 5 Communication 2,469,450 2,348,489 6 Printing and Stationery 8,362,140 8,252,260 7 Non Capital Office Items 151,017 201,676 8 Transportation 2,870,336 3,504,145 9 Travelling Expenses (Including Allowance) A. Internal 566,485 325,249 B. International 410,438 428,565 10 Agent Trainning 2,156,201 3,604,229 11 Other Agents Expenses 280,072,776 209,456,698 12 Insurance premium 1,284,099 1,200,057 13 Security Expenses 669,865 383,760 14 Legal and Consultancy Fees 375,292 198,833 15 Books & Periodicals 138,535 134,185 16 Advertigement and Publicity 7,573,367 6,650,429 17 Business promotion - - 18 Entertainment Expenses 312,500 300,000 19 Donation and Awards 519,620 1,500,000 20 Board Committee Expenses A. Meeting Allowance 165,000 169,000 B. Others 2,041,729 1,647,883 21 Other Committee/ Sub Committee Expenses - - A. Meeting Allowance 50,000 47,500 B. Others 303,737 287,356 22 Expenses relating general meeting 483,818 427,780 23 A. Acturial Service Fee 638,118 1,010,353 B. Acturial Expenses - - 24 Audit Expenses - - A. Audit Fee 226,000 197,750 B. Tax Audit Fee 113,000 146,900 C. Long Form Audit Fee 113,000 149,725 D. Other Fee - 11,224 E. Internal Audit Fee 565,000 378,550 F. Others Expenses 362,545 281,272 25 Interest - - 26 Bank charges 117,173 157,904 27 Fee and charges 4,254,118 4,254,118 28 Depreciation 7,642,640 8,329,953 29 Stamps 2,573,454 2,616,734

!%

58


qm=;+= ljj/0f o; aif{ ut aif{30 cGo - - sd{rf/�L tfhuL vr{ 1,567,206 1,466,577 sfof{no ;/�–;kmfO{ vr{ 1,479,490 550,140 ;ef–;Dd]�ng vr{ - k|zf;g_ 4,274,508 1,723,383 cGo ljljw vr{ 1,715,229 1,572,889 Aof6«L vr{ 1,278,759 910,036 ;'rgf tyf k|sf;g vr{ 488,831 569,334 sfof{no :�yfGt/�0f vr{ 201,552 396,435 ;]�af /� b:�t'/� - ;af/�L ;fwg_ 492,385 430,790 Ohfhtkq gjLs/�0f z'Ns - aLdf ;ldlt_ 50,000 50,000 g]�6jls{ª vr{ 7,129,245 5,659,866 gu/�kflnsf s/� 49,102 37,760 hUuf s/� - -

afF8 kmfF8sf] nflu hDdf 465,883,496 373,600,261

gfkmf gf]�S;fg lx;fadf ;f/�]�sf]� 46,588,350 37,360,026 ;fjlws hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 163,795,802 122,438,985 clu|d e'QmfgL ;fjlws hLjg aLdfsf]�cfo Aoo lx;fadf ;f/�]�sf]� 39,647,610 39,902,143 ?kfGtl/�t ;fjlws hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 169,643,099 142,662,021 cfhLjg hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 27,339,248 20,793,747 DofbL hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 758,662 676,015 ljz]�if DofbL hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 165,891 157,033 cGo hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]�-Psn aLdfz'Ns_ 6,230,147 837,909 cGo hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� -a}�b]�lzs /�f]�huf/� Psn aLdfz'Ns_ 11,714,688 8,772,383 hDdf 465,883,496 373,600,261

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

qm=;+= ljj/0f o; aif{ ut aif{!= tna 39,163,078 33,778,749 @= eQf 27,191,563 24,545,199 #= bz}�+ vr{ 4,192,124 3,840,952 $= ;~rosf]�ifdf yk 4,074,599 2,940,886 %= tflnd vr{ - - ^= kf]�zfs - - &= cf}�ifwf]�krf/� 1,797,176 748,658 *= aLdf 422,869 379,475 (= k]�G;g tyf pkbfg vr{ tyf Joj:�yf 3,155,206 1,959,678 !)= ljbf afktsf]� vr{ tyf Joj:�yf 5,177,160 4,438,330 !!= cGo ;'ljwf afkt vr{ tyf Joj:�yf - - !@ cGo s= z}�lIfs vr{ 330,835 2,536,226 v= ahf/� clwsf/�Lx?nfO{ k|f]�T;fxg /�sd 2,619,246 2,463,977 u= gofF sd{rf/�L egf{ vr{ - - 3= sd{rf/�L ;'ljwf -ljljw_ - - ª= sd{rf/�L ;?jf vr{ 1,115,529 406,935 r= Hofnf 5,650,178 4,191,726 5= eQf (Stipened Expenses) 32,430 645 hDdf M 94,921,994 82,231,437





ldlt M @)&#÷!!÷!*

15

59

th Annual Report

Total for Distribution Transferred to profit and loss account 46,588,350 37,360,026 Transferred to Reveue Account of Endowment 163,795,802 122,438,985 Transferred to Revenue Account of Anticipated Endowment 39,647,610 39,902,143 Transferred to Revenue Account of Modified Endowment 169,643,099 142,662,021 Transferred to Revenue Account of Whole Life Policy 27,339,248 20,793,747 Transferred to Revenue Account of Term Insurance Policy 758,662 676,015 Transferred to Revenue Account of Special Term Insurance Policy 165,891 157,033 Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium) 6,230,147 837,909 Transferred to Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) 11,714,688 8,772,383 Total 465,883,496 373,600,261

Employee Expenses Schedule -7.1

S.N. Particulars Current year Previous year1 Salaries 39,163,078 33,778,749 2 Allowances 27,191,563 24,545,199 3 Dasain Expenses 4,192,124 3,840,952 4 Company Contribution Providend Fund 4,074,599 2,940,886 5 Training expenses - - 6 Dress Allowance - - 7 Medical Expenses 1,797,176 748,658 8 Insurance 422,869 379,475 9 Provision on pension and gratuity 3,155,206 1,959,678 10 Expenses & Provision For Leave Encashment 5,177,160 4,438,330 11 Provision for Other Facilities - - 12 Other A. Education Expenses 330,835 2,536,226 B. Incentive to Marketing Officials 2,619,246 2,463,977 C. Recruiting Expenses - - D. Employee Benefit Misc. - - E. Relocation Expenses 1,115,529 406,935 F. Wages 5,650,178 4,191,726 g. Stipend Expenses 32,430 645 Total 94,921,994 82,231,437

S.N. Particulars Current year Previous year30 Other - - Staff Refereshment Expenses 1,567,206 1,466,577 Office Upkeep and Cleaning Expenses 1,479,490 550,140 Conferrence Expenses (Admin) 4,274,508 1,723,383 Other Miscellaneous Expenses 1,715,229 1,572,889 Battery Expenses For Inverter 1,278,759 910,036 Information Publication Expenses 488,831 569,334 Office Shifting Expenses 201,552 396,435 Rates & Taxes (Vehicles) 492,385 430,790 Licience Renewal Fee (Beema Samiti) 50,000 50,000 Networking Expenses 7,129,245 5,659,866 Mucipality Tax 49,102 37,760 Land Tax - - Total 465,883,496 373,600,261





Date: 01.03.2017

!%

60


cfos/ cg';"rL– *

qm=;+= ljj/0f o; aif{ ut aif{!= o; aif{sf]� cfos/� 122,934,950 92,681,761 afF8kmfF8sf] nflu cfos/sf] hDdf 122,934,950 92,681,761 afF8kmfF8 gfkmf gf]�S;fg lx;fadf ;f/�]�sf]� 3,253,913 2,924,343 ;fjlws hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 50,260,424 38,648,632 clu|d e'QmfgL ;fjlws hLjg aLdfsf]�cfo Aoo lx;fadf ;f/�]�sf]� 20,349,640 16,669,931 ?kfGtl/�t ;fjlws hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 45,127,861 32,067,104 cfhLjg hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 3,407,108 1,909,205 DofbL hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 240,188 168,116 ljz]�if DofbL hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]� 99,945 77,662 cGo hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]�-Psn aLdfz'Ns_ 195,871 216,768 cGo hLjg aLdfsf]� cfo Aoo lx;fadf ;f/�]�sf]�-a}�b]�lzs /�f]�huf/� Psn aLdfz'Ns _ - - hDdf 122,934,950 92,681,761





ldlt M @)&#÷!!÷!*

15

61

th Annual Report

Income Tax Schedule - 8

S.N. Particulars Current year Previous year1 Income Tax of current year 122,934,950 92,681,761 Total Income Tax For Appropriation 122,934,950 92,681,761 Allocation Appropriation Transferred to profit and loss account 3,253,913 2,924,343 Transferred to Reveue Account of Endowment 50,260,424 38,648,632 Transferred to Revenue Account of Anticipated Endowment 20,349,640 16,669,931 Transferred to Revenue Account of Modified Endowment 45,127,861 32,067,104 Transferred to Revenue Account of Whole Life Policy 3,407,108 1,909,205 Transferred to Revenue Account of Term Insurance Policy 240,188 168,116 Transferred to Revenue Account of Special Term Insurance Policy 99,945 77,662 Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium) 195,871 216,768 Transferred to Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) - - Total 122,934,950 92,681,761





Date: 01.03.2017

!%

62


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 - - - - - - - - 5,386,274 3,869,439 2 clu|d e'QmfgL ;fjlws - - 6,131,552 4,640,029 3 ?kfGtl/�t ;fjlws - 100,000 3,091,137 1,993,561 4 cfhLjg - - - - 5 DofbL - - - - 6 ljz]�if DofbL - - - - 7 cGo hLjg aLdf -Psn aLdfz'Ns_ - - 8 cGo hLjg aLd -a}�b]�lzs /�f]�huf/� Psn aLdfz'Ns_ - - hDdf M - 100,000 - - - - - - 14,608,963 10,503,029

;[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{ - - 5,386,274 3,869,439 - - 6,194,215 4,449,855 - - 6,131,552 4,640,029 - - 7,051,285 5,336,033 - - 3,091,137 2,093,561 - - 3,554,808 2,407,595 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 14,608,963 10,603,029 - - 16,800,307 12,193,483

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 _ 23,776,783 2,239,523 hDdf 23,776,783 2,239,523





ldlt M @)&#÷!!÷!*

15

63

th Annual Report

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 - 100,000

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.)

Total - 100,000 - - - - - -

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 5,386,274 3,869,439 - - 5,386,274 3,869,439 - - 6,194,215 4,449,855

6,131,552 4,640,029 - - 6,131,552 4,640,029 - - 7,051,285 5,336,033

3,091,137 1,993,561 - - 3,091,137 2,093,561 - - 3,554,808 2,407,595

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - -

14,608,963 10,503,029 - - 14,608,963 10,603,029 - - 16,800,307 12,193,483

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

S.N. Particulars current year previous year1 Transferred to Reveue Account of Endowment - - 2 Transferred to Revenue Account of Anticipated Endowment - - 3 Transferred to Revenue Account of Modified Endowment - - 4 Transferred to Revenue Account of Whole Life Policy - - 5 Transferred to Revenue Account of Term Insurance Policy - - 6 Transferred to Revenue Account of Special Term Insurance Policy - - 7 Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium) - - 8 Transferred to Revenue Account of Other Life Insurance Policy (Sing. Premium O.E.) 23,776,783 2,239,523 Total 23,776,783 2,239,523





Date: 01.03.2017

!%

64

cf}+ jflif{s k|ltj]bgh

Ljg

aLd

f s

f]if

cg';

"rL–

!!

qm=;

+= aL

dfs

f] ls

l;d

;dfo

f]hg

cuf8

Lsf] h

Ljg

cfo

Joo lx;

faaf

6 ;

f/]s

f]

gfkm

f gf

]S;fg

h

u]8f s

f]ifa

f6

;dfo

f]hg

cuf8

Lsf] h

Ljg

aLdf s

f]if -j

if{s

f] z

'?df_

lx

;fa

af6 ;

f/]s

f] ;f/

]sf]

aLd

fsf]if -jif{s

f] cGTodf_

o; j

if{

ut j

if{

o; j

if{

ut j

if{

o; j

if{

ut j

if{

o; j

if{

ut j

if{

o; j

if{

ut j

if{

1 ;

fjlw

s

8,4

32,770

,883

6

,636

,643,62

5

2,630

,060

,070

1

,890

,200

,135

-

-

-

11,062

,830

,953

8

,526

,843,75

8 2

clu

|d e'Q

mfgL ;

fjlw

s

3,331

,276

,722

2

,793

,988

,571

5

91,293

,179

5

57,304

,109

-

-

-

3,92

2,56

9,90

1

3,351

,292

,680

3

?kf

Gtl/�t

;fj

lws

7,744,795

,353

5

,629

,174

,785

2

,805

,825

,112

2

,218

,325

,059

-

-

-

10,5

50,620

,465

7

,847,499

,845

4

cfh

Ljg

638

,313

,613

3

64,605

,641

4

13,048,20

0

297

,516

,468

-

-

-

1

,051

,361

,813

6

62,122

,109

5

Dof

bL

34,857

,438

2

4,860

,700

1

1,79

3,98

4

9,996

,738

-

-

-

4

6,65

1,422

3

4,857

,438

6

ljz

]�if Do

fbL

13,86

5,84

3

11,10

6,50

9

3,240,02

0

2,759

,334

-

-

-

1

7,10

5,86

3

13,86

5,84

3 7

cGo

hLj

g aL

df

-P

sn

aLd

fz'Ns

_

52,470

,780

4

4,829

,588

8

3,16

5,72

8

7,641,19

1

-

-

-

135

,636

,507

5

2,470

,780

8

cGo

hLj

g aL

df -

a}�b]�lz

s

/�f]�h

uf/�

Psn

aLd

fz'Ns

_

-

-

-

-

-

-

-

-

-

-

hDd

f M

20,2

48,3

50,6

32

15,5

05,2

09,4

19

6,53

8,42

6,29

4 4,

983,

743,

028

-

-

-

-

26,7

86,7

76,9

24

20,4

88,9

52,4

52

hLj

g a

Ldf s

f]ifd

f ;

dfo

f]hg

qm=;

+= aL

dfs

f] ls

l;d

;dfo

f]hg

cuf

8Ls

f] h

Ljg

gfkm

f gf

]S;fg

lx;

fadf ;f/

]sf]

aLdfn

]v c

Gtu{t

bflo

Tj

af]g;

sf] nflu

Joj

:yf

aLdf s

f]if -ji

f{sf] cGTod

f_

o; a

if{ ut

aif{

o; a

if{ ut

aif{

o; a

if{ ut

aif{

o; j

if{ ut

jif{

1 ;

fjlw

s

11,06

2,83

0,95

3 8,526

,843,75

8

121

,990

,222

9

4,072

,875

8

,930

,404

,197

7

,442,39

4,075

1,097

,911

,992

8

46,65

5,873

2

clu

|d e'Qm

fgL ;

fjlw

s

3,922

,569

,901

3

,351,29

2,68

0

23,82

0,18

2

20,01

5,957

3

,311

,891

,429

2

,757,98

7,594

2

14,381

,639

180

,143,60

9 3

?kf

Gtl/�t

;fj

lws

10,550,62

0,465

7,84

7,499

,845

124

,871

,129

102

,704

,492

9

,129

,133

,740

6

,938

,525

,834

1,123

,840,16

3

924

,340,432

4

cfh

Ljg

1,051,36

1,81

3

662

,122

,109

3

1,69

1,582

2

3,80

8,496

4

71,764

,613

3

02,617

,871

2

85,224

,241

214

,276

,469

5

Dof

bL

46,65

1,422

3

4,857,438

-

-

121

,145,052

1,331

,454

-

-

6 lj

z]�if

Dofb

L 17,10

5,863

13,86

5,843

-

-

12,32

2,83

7

14,834

,397

-

-

7 c

Go h

Ljg

aLdf

-Ps

n a

Ldfz

'Ns_

135

,636

,507

5

2,470

,780

-

-

142,455,666

5

6,511

,076

-

-

8 c

Go h

Ljg

aLdf

-a}�b

]�lzs

/�f]�h

uf/�

P

sn

aLd

fz'Ns

_

-

-

-

-

269

,733

,306

100

,337

,171

-

-

hDd

f M

26,

786,

776,

924

20,4

88,9

52,4

52

302

,373

,115

2

40,

601,

820

22

,388

,850

,840

1

7,61

4,5

39,4

72

2,7

21,3

58,0

35

2,1

65,4

16,3

83

;f]Ne

]G;L dflh

{gsf] nflu J

oj:y

f af

F8km

fF8 g

ul/

Ps

f] /s

d

jif{s

f] cGTodf h

Ljg

aLdf s

f]if

o; a

if{

ut a

if{

o; a

if{

ut a

if{

o; a

if{

ut a

if{

-

-

8

77,755,778

131,722,838

10,940,840,732

8,4

32,770,883

-

-

3

62,4

88,693

388,5

60,781

3

,898,749,719

3

,331,276,723

-

-

1

30,272,045

–12

9,022,779_

10,4

25,749,336

7,744,795,353

-

-

2

56,730,773

120,911

,489

1,019

,670,231

6

38,313

,613

-

-

–75,009,721_

3

3,5

14,327

46,651,422

34,857,4

38

-

-

4

,700,371

–

992,5

06_

17,105,863

13,865,843

-

-

–

7,328,073_

–4,126,875_

135,636,5

07

52,4

70,780

-

-

–

270,371,832_

–10

0,4

68,185_

-

-

-

-

1

,279,238,034

440,099,090

26,4

84,4

03,810

2

0,248,350,632

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

65

th Annual ReportLI

FE IN

SU

RA

NC

E FU

ND

S

ched

ule-

11

S.N

. Ty

pes

of In

sura

nce

Life

Insu

ranc

e Fu

nd

Tran

sfer

red

From

Tr

ansf

erre

d Fr

om

Tran

sfer

red

From

Li

fe In

sura

nce

Fund

Bef

ore

Adj

ustm

ent

Rev

enue

Acc

ount

pr

ofit&

Los

s A

/C

Res

erve

& s

urpl

us

Bef

ore

Adj

ustm

ent

(Beg

inni

ng O

f the

Yea

r)

(E

nd O

f the

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

curr

ent y

ear

prev

ious

yea

r cu

rren

t yea

r pr

evio

us y

ear

1 En

dow

men

t 8

,432

,770

,883

6

,636

,643

,625

2

,630

,060

,070

1

,890

,200

,135

-

-

-

11,

062,

830,

953

8,5

26,8

43,7

58

2 A

ntic

ipat

ed E

ndow

men

t 3

,331

,276

,722

2

,793

,988

,571

5

91,2

93,1

79

557

,304

,109

-

-

-

3,

922,

569,

901

3,

351,

292,

680

3 M

odifi

ed E

ndow

men

t 7

,744

,795

,353

5

,629

,174

,785

2

,805

,825

,112

2

,218

,325

,059

-

-

-

10,

550,

620,

465

7,8

47,4

99,8

45

4 W

hole

Life

Pol

icy

638

,313

,613

3

64,6

05,6

41

413

,048

,200

2

97,5

16,4

68

-

-

-

1,05

1,36

1,81

3

662

,122

,109

5 Te

rm In

sura

nce

Pol

icy

34,

857,

438

2

4,86

0,70

0

11,

793,

984

9

,996

,738

-

-

-

4

6,65

1,42

2

34,

857,

438

6 S

peci

al T

erm

Pol

icy

13,

865,

843

1

1,10

6,50

9

3,2

40,0

20

2,7

59,3

34

-

-

-

17,

105,

863

1

3,86

5,84

3

7 O

ther

Life

Insu

ranc

e (E

ndow

men

t

S

ingl

e P

rem

ium

) 5

2,47

0,78

0

44,

829,

588

8

3,16

5,72

8

7,6

41,1

91

-

-

-

135

,636

,507

5

2,47

0,78

0

8 O

ther

Life

Insu

ranc

e (S

ingl

e

P

rem

ium

O.E

.)

-

-

-

-

-

-

-

-

-

-

To

tal

20,

248,

350,

632

1

5,50

5,20

9,41

9

6,5

38,4

26,2

94

4,9

83,7

43,0

28

-

-

-

-

26,

786,

776,

924

2

0,48

8,95

2,45

2

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

877

,755

,778

1

31,7

22,8

38

10,

940,

840,

732

8

,432

,770

,883

2 A

ntic

ipat

ed E

ndow

men

t 3

62,4

88,6

93

388

,560

,781

3

,898

,749

,719

3

,331

,276

,723

3 M

odifi

ed E

ndow

men

t 1

30,2

72,0

45

(12

9,02

2,77

9)

10,

425,

749,

336

7

,744

,795

,353

4 W

hole

Life

Pol

icy

256

,730

,773

1

20,9

11,4

89

1,0

19,6

70,2

31

638

,313

,613

5 Te

rm I

nsur

ance

Pol

icy

(75

,009

,721

) 3

3,51

4,32

7

46,

651,

422

3

4,85

7,43

8

6 S

peci

al T

erm

Pol

icy

4,7

00,3

71

(99

2,50

6)

17,

105,

863

1

3,86

5,84

3

7 O

ther

Life

Ins

uran

ce (

Endo

wm

ent

Sin

gle

Pre

miu

m)

(7,

328,

073)

(

4,12

6,87

5)

135

,636

,507

5

2,47

0,78

0

8 O

ther

Life

Ins

uran

ce (

Sin

gle

Pre

miu

m O

.E.)

(

270,

371,

832)

(

100,

468,

185)

-

-

To

tal

1,2

79,2

38,0

34

440

,099

,090

2

6,48

4,40

3,81

0

20,

248,

350,

632

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

1,06

2,83

0,95

3 8

,526

,843

,758

1

21,9

90,2

22

94,

072,

875

8,9

30,4

04,1

97

7,44

2,39

4,07

5 1

,097

,911

,992

8

46,6

55,8

73

.

-

2 A

ntic

ipat

ed E

ndow

men

t 3

,922

,569

,901

3,

351,

292,

680

2

3,82

0,18

2

20,

015,

957

3,3

11,8

91,4

29

2,75

7,98

7,59

4

214

,381

,639

1

80,1

43,6

09

3 M

odifi

ed E

ndow

men

t 1

0,55

0,62

0,46

5 7

,847

,499

,845

1

24,8

71,1

29

102

,704

,492

9,

129,

133,

740

6,9

38,5

25,8

34

1,12

3,84

0,16

3

924

,340

,432

4 W

hole

Life

Pol

icy

1,0

51,3

61,8

13

662

,122

,109

3

1,69

1,58

2

23,

808,

496

4

71,7

64,6

13

302

,617

,871

2

85,2

24,2

41

214

,276

,469

5 Te

rm I

nsur

ance

Pol

icy

46,

651,

422

3

4,85

7,43

8

-

-

121,

145,

052

1

,331

,454

-

-

6 S

peci

al T

erm

Pol

icy

17,

105,

863

1

3,86

5,84

3

-

-

12,

322,

837

1

4,83

4,39

7

-

-

7 O

ther

Life

Ins

uran

ce

(E

ndow

men

t S

ingl

e P

rem

ium

) 1

35,6

36,5

07

52,

470,

780

-

-

14

2,45

5,66

6

56,

511,

076

-

-

8 O

ther

Life

Ins

uran

ce (

Sin

gle

P

rem

ium

O.E

.)

-

-

-

-

269,

733,

306

1

00,3

37,1

71

-

-

-

-

To

tal

26,

786,

776,

924

2

0,48

8,95

2,45

2

302

,373

,115

2

40,6

01,8

20

22,

388,

850,

840

1

7,61

4,53

9,47

2

2,7

21,3

58,0

35

2,1

65,4

16,3

83

-

-

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

66


Joj:yf lkmtf{ cg';"rL–!@

qm=;+= ljj/0f o; aif{ ut aif{!= nufgLdf gf]�S;fgLsf]� nflu Joj:�yf lkmtf{ 4,063,846 788,360 @= shf{df gf]�S;fgLsf]� nflu Joj:�yf lkmtf{ - - #= z+sf:�kb cf;fdL Joj:�yf lkmtf{ - - $ cGo Joj:�yf lkmtf{ - 6,316,568 hDdf 4,063,846 7,104,928

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{ 88,072 40,446 6 ckn]�vg ul/�Psf]� cf;fdL - - 7 cGo ckn]�vg - - hDdf 88,072 40,446

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

qm=;+= ljj/0f o; jif{ ut jif{1 z]�o/� lgZsf;g vr{ - 25,611 2 z]�o/� /�lhi6«]�;g vr{ 66,000 75,400 3 z]�o/� ;"lrs/�0f vr{ 1,107,646 592,954 4 nfef+z ljt/�0f vr{ - - 5 z]�o/� ;DaGwL cGo vr{ - - hDdf 1,173,646 693,965

cGo vr{x? cg';"rL–!$

qm=;+= ljj/0f o; aif{ ut aif{1 b08 hl/�jfgf - - 2 ljnDa z'Ns hl/�jfgf 171,330 25,100 3 cGo - - hDdf 171,330 25,100





ldlt M @)&#÷!!÷!*

15

67

th Annual Report

Provision Witten Back Schedule -12

S.N. Particulars Current year Previous year1 Provision For Loss On Investment Written Back 4,063,846 788,360 2 Provision For Loss on Loan WrittenBack - - 3 Provision For Doubtful Debt Written Back - - 4 Other Provision Written Back - 6,316,568 TOTAL 4,063,846 7,104,928

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 88,072 40,446 6 Debtors Written Off - - 7 Other Written Off - - Total 88,072 40,446

Expenses Related to Shares Schedule - 13 A

S.N. Particulars Current year Previous year1 Share Issuing Expenses - 25,611 2 Share Registration Expenses 66,000 75,400 3 Share Listing Expenses 1,107,646 592,954 4 Dividend Distribution Expenses - - 5 Other Expenses (Share Related) - - Total 1,173,646 693,965

Other expenditures Schedule - 14

S.N. Particulars Current year Previous year1 Fine & Penalties - - 2 Late Fee & Fine 171,330 25,100 3 Other - - Total 171,330 25,100





Date: 01.03.2017

!%

68


gf]S;fgLsf] nflu Joj:yf cg';"rL–!%

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

-s_ z]o/ k"FhL cg';"rL–!^

qm=;+= ljj/0f o; aif{ ut aif{!= clws[t k"FhL s_ ? !)) b/�sf]� !)^($%#!=@% yfg ;fwf/�0f z]�o/� 1,069,453,125 855,562,500 v_ ?============b/�sf]� ====yfg ckl/�jt{gLo cu|flwsf/� z]�o/� - - u_ ?========== b/�sf]� ====== yfg kl/�jt{gLo cu|flwsf/� z]�o/� - - @= hf/�L k"FhL 1,069,453,125 855,562,500 s_ ? !)) b/�sf]� !)^($%#!=@% 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/� 1,069,453,125 855,562,500 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 1,069,453,125 855,562,500

-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? 267,363,281 @% k|ltzt 213,890,625 @% k|ltzt g]�kfnL gful/�s - – - – ljb]�zL 588,199,219 %% k|ltzt 470,559,375 %% k|ltzt hDdf 855,562,500 *) k|ltzt 684,450,000 *) k|ltzt;j{;fwf/0f 171,112,500 @) k|ltzt 131,625,000 @) k|ltzt

cGo s"n 1,069,453,125 !)) k|ltzt 855,562,500 !)) 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 588,199,219 %% k|ltzt 470,559,375 @= ljzfn u|'k @% k|ltzt 267,363,281 @% k|ltzt 213,890,625





ldlt M @)&#÷!!÷!*

15

69

th Annual Report

Provision For Losses Schedule -15

S.N. Particulars Current year Previous year1 Provision For loss on Investment - -

2 Provision For loss on loan - -

3 Provision For Doubtful Debt - -

4 Other Provision - -

Total - -

A. Share Capital Schedule - 16

S.N. Particulars Current year Previous year1 Authorised capital

A. 10694531.25 Equity Shares worth Rs. 100/- Each 1,069,453,125 855,562,500

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

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

2 Issued Capital



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

3 Paid up capital


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


C…………. Reedeemable Preferred worth Rs. …. Each - - Total 1,069,453,125 855,562,500

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% 588,199,219 55% 470,559,375

2 Vishal Group ( Nepal) 25% 267,363,281 25% 213,890,625

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 267,363,281 25% 213,890,625 25%

Nepalese citizen - - - -

Foreigner 588,199,219 55% 470,559,375 55%

Total 855,562,500 80% 684,450,000 80%

General public 213,890,625 20% 171,112,500 20%

Other

Total 1,069,453,125 100% 855,562,500 100%





Date: 01.03.2017

!%

70


hu]8f tyf sf]if cg';"rL–!&

qm=;+= ljj/0f o; aif{ ut aif{1 :�yug s/� hu]�8f 1,039,589 926,717 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/� 265,224,375 213,890,625 7 k"hLs[t x'g afFsL af]�g; z]�o/� - - 8 Gffkmf gf]�S;fg lx;faaf6 ;f/�]�sf]� gfkmf 81,562,486 71,567,395 hDdf 408,978,251 347,536,538

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{ 56,087,418 31,183,201 32,143,502 24,904,217 88,230,920 56,087,418 - - - - - - - - - - - - 56,087,418 31,183,201 32,143,502 24,904,217 88,230,920 56,087,418

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 @)&#÷!!÷!*

15

71

th Annual Report

Reserve and Surplus Schedule -17

S.N. Particulars current year previous year1 Deferred Tax Reserve 1,039,589 926,717

2 Capital reserve - -

3 Special reserve - -

4 Other reserve ( Details) - -

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

6 Proposed Bonus Share 265,224,375 213,890,625

7 Uncapitalized Bonus Share - -

8 Profit transferred from profit and loss a/c 81,562,486 71,567,395

Total 408,978,251 347,536,538

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 56,087,418 31,183,201 32,143,502 24,904,217 88,230,920 56,087,418

56,087,418 31,183,201 32,143,502 24,904,217 88,230,920 56,087,418

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 - -





Date: 01.03.2017

!%

72

cf}+ jflif{s k|ltj]bgl:

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

h

ldg

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

,136

,600

1

59,040

4

8,87

8

-

2

07,918

9

28,682

9

77,5

60

kmlg

{r/�

tyf l

kmS;

\r;{

12,59

2,97

9 1

,472

,649

2

92,5

12

13,77

3,11

6

7,174

,740

1

,453

,075

2

72,5

91

8,355

,224

5

,417

,892

5

,418

,239

s

fof{n

o ;f

dfg

3,5

31,4

63

1,913

,821

1

90,937

5

,254

,347

2

,233

,090

5

21,950

1

82,637

2

,572

,403

2

,681

,944

1,298

,373

s

DKo"6

/� ty

f ;"r

gf k

|ljwL

pks

/�0f

16,303

,500

5

,116

,805

2

,136

,316

1

9,28

3,98

9

9,065

,207

1

,981

,793

1

,946,65

0

9,100

,350

1

0,18

3,63

9

7,238

,293

c

b[Zo

;Dkl

Q

7

10,874

-

-

7

10,874

4

80,327

5

7,63

7

-

5

37,964

1

72,910

2

30,5

46

;jf/�L

;fw

g 2

9,89

3,54

7

-

-

29,893

,547

16,428

,748

2

,692

,960

-

19,121

,708

1

0,77

1,83

9 13

,464

,799

ln

h x

f]�N8

;Dkl

Q 8

,095

,182

6

69,5

01

1,906

,201

6

,858

,482

6

,126

,363

5

34,106

1

,628

,805

5

,031

,664

1

,826

,818

1

,968

,819

c

Go

-k|s

[lt v

'nfp

g]�_

4,262

,285

1

43,78

1

864

,536

3

,541,53

0

2,882

,558

3

52,242

7

49,17

6

2,4

85,624

1

,055

,906

1

,379

,727

h

Ddf

260

,218

,825

9

,316

,557

5

,390

,502

26

4,14

4,88

0

44,

550,

073

7

,642

,641

4

,779

,859

4

7,41

2,85

5

216

,732

,025

2

15,6

68,7

51

lgdf

{0fflw

g k"Fh

Lut

vr

{ 3

,342,77

6

238

,500

-

3

,581

,276

-

-

-

-

3

,581

,276

3

,342,77

6 s

"n

263

,561

,601

9

,555

,057

5

,390

,502

2

67,7

26,1

56

44,

550,

073

7

,642

,641

4

,779

,859

4

7,41

2,85

5

220

,313

,301

2

19,0

11,5

27

ut j

if{ 2

57,7

53,2

35

7,1

80,1

66

1,3

71,8

00

263

,561

,601

3

7,29

7,53

8

8,3

29,9

53

1,0

77,4

18

44,

550,

073

2

19,0

11,5

27

220

,455

,696

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

73

th Annual ReportFi

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

,136

,600

1

59,0

40

48,

878

-

2

07,9

18

928

,682

9

77,5

60

Furn

iture

and

Fix

ture

1

2,59

2,97

9

1,4

72,6

49

292

,512

1

3,77

3,11

6

7,1

74,7

40

1,4

53,0

75

272

,591

8

,355

,224

5

,417

,892

5

,418

,239

Offi

ce E

quip

men

t 3

,531

,463

1

,913

,821

1

90,9

37

5,2

54,3

47

2,2

33,0

90

521

,950

1

82,6

37

2,5

72,4

03

2,6

81,9

44

1,2

98,3

73

Com

pute

r and

ED

P 1

6,30

3,50

0

5,1

16,8

05

2,1

36,3

16

19,

283,

989

9

,065

,207

1

,981

,793

1

,946

,650

9

,100

,350

1

0,18

3,63

9

7,2

38,2

93

Inta

ngib

le A

sset

s 7

10,8

74

-

-

710

,874

4

80,3

27

57,

637

-

5

37,9

64

172

,910

2

30,5

46

Vehi

cle

29,

893,

547

-

-

2

9,89

3,54

7

16,

428,

748

2

,692

,960

-

1

9,12

1,70

8

10,

771,

839

1

3,46

4,79

9

Leas

e H

old

Asse

ts

8,0

95,1

82

669

,501

1

,906

,201

6

,858

,482

6

,126

,363

5

34,1

06

1,6

28,8

05

5,0

31,6

64

1,8

26,8

18

1,9

68,8

19

Oth

er(N

atur

e m

entio

ned)

4

,262

,285

1

43,7

81

864

,536

3

,541

,530

2

,882

,558

3

52,2

42

749

,176

2

,485

,624

1

,055

,906

1

,379

,727

Tota

l 2

60,2

18,8

25

9,3

16,5

57

5,3

90,5

02

264

,144

,880

4

4,55

0,07

3

7,6

42,6

41

4,7

79,8

59

47,

412,

855

2

16,7

32,0

25

215

,668

,751

Ca

pita

l Exp

endi

ture

- W

IP

3,3

42,7

76

238

,500

-

3

,581

,276

-

-

-

-

3

,581

,276

3

,342

,776

Tota

l 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

Pr

evio

us Y

ear

257

,753

,235

7

,180

,166

1

,371

,800

2

63,5

61,6

01

37,

297,

538

8

,329

,953

1

,077

,418

4

4,55

0,07

3

219

,011

,527

2

20,4

55,6

96

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

74

cf}+ jflif{s k|ltj]bgn

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

1,830,00

0,00

0

2,010

,000

,000

#

ljs

f; a

}�+ss

f]� d'2

tL lgI

f]�k

480

,000

,000

1

40,00

0,00

0 $

gf

ul/�s

nuf

gL o

f]�hgf

5

9,370,22

0

21,397

,540

%

ljQLo

;+:�y

fsf]� d'2

tL lgI

f]�k

180

,000

,000

1

55,000

,000

^

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_

1,286

,633,279

1

,062

,426

,802

*

a}�+s

tyf lj

QLo

;+:�y

fsf]� c

u|flw

sf/� z

]�o/�÷

l8j]�Gr

/� 1,037,894

,000

1

,038,590

,253

( c

Go

-

-

hDd

f M s

5

,489,

322,

499

5

,042,

839

,595

-v

_ cNk

sfln

g nuf

gL M

!

;/�s

f/�L /�

;/�s

f/�s

f]� h

dfgt

k|fKt

;]�So

"l/�6L

-

9

01,717

,000

@

jfl0

fHo

a}�+s

sf]� d'2

tL lgI

f]�k

16,26

5,000

,000

8

,980

,000

,000

#

ljs

f; a

}�+ss

f]� d'2

tL lgI

f]�k

960

,000

,000

1

,380

,000

,000

$

gf

ul/�s

nuf

gL o

f]�hgf

-

-

%

ljQLo

;+:�y

fsf]� d'2

tL lgI

f]�k

410

,000

,000

3

70,00

0,00

0 ^

a}�+s

tyf lj

QLo

;+:�y

fsf]� c

u|flw

sf/� z

]�o/�÷

l8j]�Gr

/� -

1

0,00

0,00

0 &

jfl0

fHo

a}�+s

sf]� Ao

fh k

|fKt x

'g]� c

Go lgI

f]�k

535,028

,098

1

,249,13

1,65

8 *

ljs

f; a

}�+ss

f]� Ao

fh k

|fKt x

'g]�]� c

Go lgI

f]�k

-

-

( lj

QLo

;+:�y

fsf]� Ao

fh k

|fKt x

'g]� c

Go lgI

f]�k

-

-

!)

c

Go A

ofh

k|fKt

x'g]�

nuf

gL

-

-

hDd

f M v

1

8,1

70,0

28,0

98

12,

890

,848,6

58

h

Ddf M s

±v

2

3,65

9,35

0,59

7

17,

933,

688,2

53

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

75

th Annual ReportIn

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

1,8

30,0

00,0

00

2,0

10,0

00,0

00

3 Fi

xed

Dep

osit

at D

evel

opm

ent B

ank

480

,000

,000

1

40,0

00,0

00

4 Pl

ans

of c

itize

n in

vest

men

t Tru

st/ M

utua

l Fun

d 5

9,37

0,22

0

21,

397,

540

5 Fi

xed

Dip

osit

at F

inan

cial

Inst

itutu

ion

180

,000

,000

1

55,0

00,0

00

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

1,2

86,6

33,2

79

1,0

62,4

26,8

02

8 Pr

efer

ence

Sha

re/D

eben

ture

of B

ank

and

Fina

ncia

l Ins

titut

ion

1,0

37,8

94,0

00

1,0

38,5

90,2

53

9 O

ther

-

-

To

tal (

A)

5,4

89,3

22,4

99

5,0

42,8

39,5

95

(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

-

901

,717

,000

2 In

tere

st B

earin

g D

epos

it a

t Com

mer

cial

Ban

k 1

6,26

5,00

0,00

0

8,9

80,0

00,0

00

3 In

tere

st B

earin

g D

epos

it at

Dev

elop

men

t Ban

k 9

60,0

00,0

00

1,3

80,0

00,0

00

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

iana

ncia

l Ins

titut

ion

410

,000

,000

3

70,0

00,0

00

6 Pr

efer

ence

Sha

re/D

eben

ture

of B

ank

and

Fina

ncia

l Ins

titut

ion

-

10,

000,

000

7 O

ther

Inte

rest

Bea

ring

Dep

osit

at C

omm

erci

al B

ank

535

,028

,098

1

,249

,131

,658

8 O

ther

Inte

rest

Bea

ring

Dep

osit

at D

evel

opm

ent B

ank

-

-

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)

18,

170,

028,

098

1

2,89

0,84

8,65

8

Tota

l (A+

B)

23,

659,

350,

597

1

7,93

3,68

8,25

3

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

76


z]��o/�df nufgL cg';"rL–@!=!

qm=;+= sDkgL v'b /sd c+lst d"No k/n d"No ahf/ d"No1 lrlnd]� xfO8«f]� kfj/� sDkgLsf]� #%%@ yfg ;fwf/�0f z]�o/� 463,136 355,200 463,136 4,841,376 2 s'df/�L a}�+s ln= sf]� &@^!& yfg z]�o/� -!((@& lsQf af]�g; z]�o/� ;lxt_ 9,711,301 7,261,700 9,711,301 27,957,545 3 s'df/�L a}�+s ln= sf]� !$&!$) yfg z]�o/� - ;+:�yfks z]�o/�_ -%(&!! lsQf af]�g; z]�o/� ;lxt_ 8,742,900 1,471,400 8,742,900 28,250,880 4 l;¢fy{ a}�+s ln sf]� @%#*) yfg ;fwf/�0f z]�o/� - !)*^^ Af]�fg; z]�o/� ;lxt_ 4,375,360 253,800 4,375,360 32,867,100 5 ;flgdf a}�+s ln= sf]� #^*%% yfg ;fwf/�0f z]�o/� -*^^! lsQf af]�g; z]�o/� ;lxt_ 4,296,225 3,685,500 4,296,225 29,373,435 6 g]�kfn P;= la= cfO= a}�+s ln= sf]� $&$#% yfg ;fwf/�0f z]�o/� -#!)(! af]�g; z]�o/� ;lxt_ 20,519,935 4,743,500 20,519,935 89,130,365 7 a}�+s ckm sf7dfG8f}� ln sf]� !$%)% yfg ;fwf/�0f z]�o/� -(^%! lsQf af]�g; z]�o/� ;lxt_ 4,275,376 1,450,500 4,275,376 8,485,425 8 g]�kfn Oge]�i6d]�G6 a}�+s ln= sf]� &))* yfg ;fwf/�0f z]�o/� 2,057,183 700,800 2,057,183 7,428,480 9 g]�kfn Oge]�i6d]�G6 a}�+s ln= sf]� &*((#( yfg - ;+:�yfks z]�o/�_ - @#@@^( af]�g; z]�o/� ;lxt_ 255,598,580 78,993,900 255,598,580 706,995,405 10 glan a}�+s ln=sf]� #*^^#! yfg ;fwf/�0f z]�o/� - ;+:�yfks z]�o/�_ -af]�g; z]�o/� !%(%$@ lsQf_ 280,603,571 38,663,100 280,603,571 666,165,213 11 glan a}�+s ln=sf]� !@(#^ yfg ;fwf/�0f z]�o/� -af]�g; z]�o/� !!)@$ lsQf_ 11,442,307 1,293,600 11,442,307 30,127,944 12 Pe/�]�i6 a}�+s ln= sf]� $%%$$ yfg ;fwf/�0f z]�o/� -!*!@( af]�g; z]�o/� ;lxt_ 87,971,303 4,554,400 87,971,303 148,018,000 13 Pe/�]�i6 a}�+s ln= sf]� ^$% yfg c3|flwsf/� z]�o/� 696,253 64,500 696,253 1,113,270 14 a'6jn kfj/� sDkgL ln= sf]� @!$# yfg ;fwf/�0f z]�o/� -!@^ af]�g; z]�o/� ;lxt_ 1,470,100 214,300 1,470,100 1,975,846 15 lxdfnog a}�+s ln= sf]� @(*)$ yfg z]�o/� -!#&@( lsQf af]�g; z]�o/� ;lxt_ 16,287,028 2,980,400 16,287,028 45,659,651 16 n'lDjgL a}�+s ln= sf]� *@!& yfg ;fwf/�0f z]�o/�-@)(! af]�g; z]�o/� ;lxt_ 1,462,128 821,700 1,462,128 3,295,017 17 df5fk'R5«]� a}�+s ln= sf]� #!*^yfg ;fwf/�0f z]�o/� - !)&& af]�g; z]�o/�_ 1,142,438 318,600 1,142,438 2,724,030 18 u}�|08 a}�+s ln= sf]� @!(* yfg ;fwf/�0f z]�o/� - #&! af]�g; z]�o/�_ 404,432 219,800 808,125 404,432 19 u}�|08 a}�+s ln= sf]� @))))) yfg ;fwf/�0f z]�o/� - ;+:�yfks z]�o/�_ 22,398,920 20,000,000 22,398,920 24,000,000 20 PgPdla a}�+s ln= sf]� !&#$@ yfg ;fwf/�0f z]�o/� -$$!$ lsQf af]�g; z]�o/� ;lxt_ 5,043,338 1,734,200 5,043,338 14,341,834 21 :�6|of088{ rf6{8 a}�+s ln= sf]� $#$(^ yfg ;fwf/�0f z]�o/�-#!#@% lsQf af]�g; z]�o/�_ 65,568,587 4,349,600 65,568,587 154,280,312 22 o'lglnj/� g]�kfn ln= sf]� #&* yfg ;fwf/�0f z]�o/� 3,348,880 37,800 3,348,880 12,523,140 23 g]�kfn z]�o/� dfs]�{6 ln= sf]� ^%(# lsQf ;fwf/�0f z]�o/� -!!@ lsQf af]�g; z]�o/�_ - 659,300 3,077,900 - 24 l;¢fy{ ljsf; a}�+s ln sf]� !)((* yfg ;fwf/�0f z]�o/� -!)()lsQf af]�g; z]�o/�_ 3,112,400 1,099,800 3,831,100 3,112,400 25 cfO{PnPkm;L ln= sf]� !)@#) lsQf ;fwf/�0f z]�o/� 2,035,770 1,023,000 2,920,500 2,035,770 26 hgtf a}�+s ln sf]� @$$!( yfg ;fwf/�0f z]�o/� -*!# lsQf af]�g; z]�o/�_ 2,360,600 2,441,900 2,360,600 12,526,947 27 l;len a}�+s ln sf]� ##&(@ yfg ;fwf/�0f z]�o/�-!##)( lsQf af]�g; z]�o/�_ 2,048,300 3,379,200 2,048,300 8,616,960 28 Unf]�]�an cfO=Pd=O=a}�+s ln sf]� !@^$(& yfg ;fwf/�0f z]�o/� -#^((( lsQf af]�g; z]�o/�_ 52,428,052 12,649,700 52,428,052 68,561,314 29 nlId a}�+s ln sf]� (!$( yfg ;fwf/�0f z]�o/� -!(#* lsQf af]�g; z]�o/�_ 1,802,300 914,900 1,802,300 8,142,610 30 g]�kfn a}�+s ln *(#^^@ yfg ;fwf/�0f z]�o/� 123,334,894 89,366,200 123,334,894 501,344,382 31 ;f]�lN6 xf]�6n ln=*))@$ yfg ;fwf/�0f z]�o/� -%!%)$ lsQf af]�g; z]�o/�_ 8,165,720 8,002,400 8,165,720 33,370,008 32 af]�6n;{ g]�kfn t/�fO ln !@*) yfg ;fwf/�0f z]�o/� 1,355,520 128,000 1,355,520 8,961,280 33 gf/�fo0fL g]�zgn kmfOgfG; ln= (%@) yfg ;fwf/�0f z]�o/� -!*#^ lsQf af]�g; z]�o/�_ 261,256 952,000 261,256 1,256,672 34 u'8ljn kmfOgfG; ln #^@& yfg ;fwf/�0f z]�o/� -%@% lsQf af]�g; z]�o/�_ 353,628 362,700 353,628 1,715,429 35 Pg Pn hL OG:�of]�]�]�]�/�]�G; sDkgL ln @*%% yfg ;fwf/�0f z]�o/�-$!& lsQf af]�g; z]�o/�_ 216,982 285,500 216,982 5,684,587 36 g]�kfn OG:�of]�]�]�]�/�]�G; sDkgL ln !%%& yfg ;fwf/�0f z]�o/�-!@( lsQf af]�g; z]�o/�_ 325,584 155,700 325,584 1,828,911 37 oltlasf; a}�+s ln #) yfg ;fwf/�0f z]�o/� 2,070 3,000 2,070 11,250 38 pBd lasf; a}�+s ln @@ yfg ;fwf/�0f z]�o/� 220 2,200 220 1,870 39 /�f/�f lasf; a}�+s ln #@ yfg ;fwf/�0f z]�o/� 2,336 3,200 2,336 2,624 40 g]�kfn cfjf; ljsf; #%^ yfg ;fwf/�0f z]�o/� -@) lsQf af]�g; z]�o/�_ 31,248 35,600 31,248 45,212 41 g]�kfn No'j cfon ln #)) yfg ;fwf/�0f z]�o/� 63,900 30,000 64,500 63,900 42 g]�kfn lkmNd 8]�enkd]�G6 ln !%$ yfg ;fwf/�0f z]�o/� 1,540 15,400 1,540 5,290 43 ?/�n dfO{qmf]� kmfO{gfG; 8]�enkd]�G6 ;]�G6/� ln=^)%yfg ;fwf/�0f z]�o/� -!)% lsQf af]�g; z]�o/�_ 90,000 60,500 90,000 677,600 44 d]�3f a}�+s ln ())$ yfg ;fwf/�0f z]�o/� -!^(% lsQf af]�g; z]�o/�_ 730,900 900,400 730,900 4,574,032 45 s[lif ljsf; a}�+s ln= !*#)) yfg ;fwf/�0f z]�o/� -#$@* lsQf af]�g; z]�o/�_ 7,293,204 18,300 7,293,204 18,208,500 46 ;]�Gr'/�L sd{l;on a}�+s ln=$$^@! yfg ;fwf/�0f z]�o/� -%%#& lsQf af]�g; z]�o/�_ 3,908,400 4,462,100 3,908,400 19,499,377 47 k|fOd sd{l;on a}�+s ln !%(&$@ yfg ;+:�yfks z]�o/� -@%%)% lsQf af]�g; z]�o/�_ 35,265,600 15,974,200 35,265,600 44,727,760 48 k|fOd sd{l;on a}�+s ln ^)^^% yfg ;fwf/�0f z]�o/� -(^*^ lsQf af]�g; z]�o/�_ 836,763 6,066,500 836,763 40,706,215 49 cfO=;L=Pkm;L=lalQo ;+:�wf lnld6]�8 #@% yfg ;fwf/�0f z]�o/� 68,612 32,500 68,612 130,650 50 g]�kfn b'/� ;+rf/� sDkgL ln=^!%^% yfg ;fwf/�0f z]�o/� 41,741,070 6,156,500 43,370,866 41,741,070 51 c]�/�]�G6n xf]�6n ln=!*!@) yfg ;fwf/�0f z]�o/� 6,484,478 1,812,000 6,484,478 9,603,600 52 l;v/� O{G;'/�]�G; sDkgL ln ^@!( yfg ;fwf/�0f z]�o/� 3,260,400 621,900 3,260,400 20,864,745 53 gfu/�Ls nufgL sf]�if !(*%) yfg ;fwf/�0f z]�o/� 68,323,922 1,985,000 68,323,922 97,820,800 54 ;g/�fO{h a}�+s ln &(%!$ yfg ;fwf/�0f z]�o/� 44,170,027 7,951,400 44,170,027 65,996,620 55 hn ljw't nufgL tyf ljsf; sDkgL ln= @*(^$ yfg ;fwf/�0f z]�o/� 2,896,400 2,896,400 2,896,400 2,896,400 56 g]�kfn l/� O{G;'/�]�G; sDkgL ln= %)!^^^=^& yfg z]�o/� 50,166,667 50,166,667 50,166,667 - 57 O{gf]�e]�l6e ljsf; a}�+s ln= @)^)) yfg ;fwf/�0f z]�o/� 8,899,818 2,060,000 8,899,818 - hDdf 1,279,917,860 396,842,367 1,286,633,279 3,064,693,486

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 .





ldlt M @)&#÷!!÷!*

15

77

th Annual Report

Investment in shares Schedule -21.1

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

1 Chilime Hydro Power Co. Ltd.3552 Unit Of Share 463,136 355,200 463,136 4,841,376 -

2 Kumari Bank Ltd. 72617 Unit of Share (Including 19927 Unit Of Bonus Share) 9,711,301 7,261,700 9,711,301 27,957,545 -

3 Kumari Bank Ltd. 147140 Unit of Share (Promotor) (Including 59711 Unit Of Bonus Share) 8,742,900 1,471,400 8,742,900 28,250,880 -

4 Siddhartha Bank Ltd.25380 Unit of Share (Including 10866 Unit Of Bonus Share) 4,375,360 253,800 4,375,360 32,867,100 -

5 Sanima Bank Ltd. 36855 Unit Of Share( Including 8661 Unit Of Bonus Share) 4,296,225 3,685,500 4,296,225 29,373,435 -

6 Nepal SBI Bank Ltd. 47435 Unit of Share (Including 31091 Unit Of Bonus Share) 20,519,935 4,743,500 20,519,935 89,130,365 -

7 Bank Of Kathmanu Ltd.14505 Unit of Share( Including 9651 Unit Of Bonus Share) 4,275,376 1,450,500 4,275,376 8,485,425 -

8 Nepal Investment Bank Ltd.7008 Unit Of Share 2,057,183 700,800 2,057,183 7,428,480 -

9 Nepal Investment Bank Ltd.789939 Unit Of Promoter Share (Including 232269 Unit Of Bonus Share) 255,598,580 78,993,900 255,598,580 706,995,405 -

10 Nabil Bank Ltd. 386631 Unit Of Share (Promoter) (Including 159542 Unit of Bonus Share) 280,603,571 38,663,100 280,603,571 666,165,213 -

11 Nabil Bank Ltd.12936 Unit Of Share (Including 11024 Unit Of Bonus Share) 11,442,307 1,293,600 11,442,307 30,127,944 -

12 Everest Bank Ltd.45544 Unit Of Share (Including 18129 unit of Bonus Share) 87,971,303 4,554,400 87,971,303 148,018,000 -

13 Everest Bank Ltd.645 Unit Of Preference Share CP 696,253 64,500 696,253 1,113,270 -

14 Butwal Power Co. Ltd.2143 Unit Of Share (Including 126 Unit of Bonus Share) 1,470,100 214,300 1,470,100 1,975,846 -

15 Himalayan Bank Ltd.29804 Unit Of Share(Including 13729 unit Of Bonus Share) 16,287,028 2,980,400 16,287,028 45,659,651 -

16 Lumbini Bank Ltd.8217 Unit Of Share (Incl.2091 units of Bonus Share) 1,462,128 821,700 1,462,128 3,295,017 -

17 Machchapuchre Bank Ltd.3186 Unit Of Share( Including 1077 unit Of Bonus Share) 1,142,438 318,600 1,142,438 2,724,030 -

18 GRAND Bank Ltd.2198 Unit Of Share (Including 371 Unit of Bonus Share) 404,432 219,800 808,125 404,432 403,693

19 GRAND Bank Ltd.200000 Unit Of Share (PROMOTER) 22,398,920 20,000,000 22,398,920 24,000,000 -

20 NMB Bank Ltd.17342 Unit Of Share ( Including 4414 unit Of Bonus Share) 5,043,338 1,734,200 5,043,338 14,341,834 -

21 Standard Chartered Bank Nepal Ltd. 43496 Unit Of Share (incl. 31325 Unit of Bonus share) 65,568,587 4,349,600 65,568,587 154,280,312 -

22 Unilever Nepl Ltd.378 Unit Of Share 3,348,880 37,800 3,348,880 12,523,140 -

23 Nepal Share Market Ltd. 6593 Unit Of Share (Including 112 Unit of Bonus Share) - 659,300 3,077,900 - 3,077,900

24 Siddhartha Devlepment Bank Ltd. 10998 Unit of Share (Including 1090 Unit of Bonus Share) 3,112,400 1,099,800 3,831,100 3,112,400 718,700

25 ILFC Ltd. 10230 Unit Of share 2,035,770 1,023,000 2,920,500 2,035,770 884,730

26 JANTA BANK LTD 24419 Units of share (incl. 813 Unit of Bonus share) 2,360,600 2,441,900 2,360,600 12,526,947 -

27 CIVIL BANK LTD 33792 units of share (incl. 13309 Unit of Bonus share) 2,048,300 3,379,200 2,048,300 8,616,960 -

28 Global IME Bank Limited 126497 units of share (incl. 36999 Unit of Bonus share) 52,428,052 12,649,700 52,428,052 68,561,314 -

29 LAXMI BANK LTD 9149 units of share (incl. 1938 Unit of Bonus share) 1,802,300 914,900 1,802,300 8,142,610 -

30 Nepal Bank Ltd 893662 units of share 123,334,894 89,366,200 123,334,894 501,344,382 -

31 Soaltee Hotel Ltd.80024 units of share (incl. 51504 Unit of Bonus share) 8,165,720 8,002,400 8,165,720 33,370,008 -

32 Bottlers Nepal Terrai ltd 1280 units of share 1,355,520 128,000 1,355,520 8,961,280 -

33 Narayani National Finance Pro. 9520 units of share (incl. 1836 Unit of Bonus share) 261,256 952,000 261,256 1,256,672 -

34 Goodwil Finance Limited 3627 units of share (incl. 525 Unit of Bonus share) 353,628 362,700 353,628 1,715,429 -

35 NLG Insurance Co. Ltd. 2855 units of share (incl. 417 Unit of Bonus share) 216,982 285,500 216,982 5,684,587 -

36 Nepal Insurance co. Ltd. 1557 units of share (incl. 129 Unit of Bonus share) 325,584 155,700 325,584 1,828,911 -

37 Yeti Dev Bank Ltd. 30 units of share 2,070 3,000 2,070 11,250 -

38 Uddham Bikash Bank Ltd. 22 units of share 220 2,200 220 1,870 -

39 Rara Dev Bank Ltd. 32 units of share 2,336 3,200 2,336 2,624 -

40 Nepal Awas Bikash 356 units of share (incl. 20 Unit of Bonus share) 31,248 35,600 31,248 45,212 -

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

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

43 Rural Micro Development Centre Ltd. 605 units of share (incl. 105 Unit of Bonus share) 90,000 60,500 90,000 677,600 -

44 Mega Bank Limited 9004 units of share (incl. 1695 Unit of Bonus share) 730,900 900,400 730,900 4,574,032 -

45 Agriculture Development Bank Ltd 18300 units of share (incl. 3428 Unit of Bonus share) 7,293,204 18,300 7,293,204 18,208,500 -

46 Century Coomercial Bank Limited 44621 units of share (incl. 5537 Unit of Bonus share) 3,908,400 4,462,100 3,908,400 19,499,377 -

47 Prime Commercial Bank Limited 159742 units of Promoter Share (incl. 25505 Unit of Bonus share) 35,265,600 15,974,200 35,265,600 44,727,760 -

48 Prime Commercial Bank Limited 60665 units of Share (incl. 9686 Unit of Bonus share) 836,763 6,066,500 836,763 40,706,215 -

49 ICFC Finance Limited 325 units of share 68,612 32,500 68,612 130,650 -

50 Nepal Doorsanchar Comapany Limited 61565 units of shares 41,741,070 6,156,500 43,370,866 41,741,070 1,629,796

51 Oriental Hotels Limited 18120 units of shares 6,484,478 1,812,000 6,484,478 9,603,600 -

52 Shikhar Insurance Co. Ltd. 6219 units of shares 3,260,400 621,900 3,260,400 20,864,745 -

53 Citizen Investment Trust 19850 units of shares 68,323,922 1,985,000 68,323,922 97,820,800 -

54 Sunrise Bank Limited 79514 units of shares 44,170,027 7,951,400 44,170,027 65,996,620 -

55 Hydropower Investment and Development Co.LTD. 28964 units of shares 2,896,400 2,896,400 2,896,400 2,896,400 -

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

57 Innovative Development Bank LTD. 20600 units of shares 8,899,818 2,060,000 8,899,818

Total 1,279,917,860 396,842,367 1,286,633,279 3,064,693,486 6,715,419

Note: 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.





Date: 01.03.2017

!%

78


gub tyf a}+s df}Hbft cg';"rL–@@

qm=;+= ljj/0f o; aif{ ut aif{! gub df}�Hbft 114,801,913 140,928,118 hDdf 114,801,913 140,928,118 @ a}�+s df}�Hbft jfl0fHo a}�+sx?sf]� df}�Hbft 352,212,900 317,115,652 ljsf; a}�+sx?sf]� df}�Hbft 4,345,131 - ljQLo ;+:�yfx?sf]� df}�Hbft - - cGo -ljj/�0f v'nfpg]�_ - - hDdf 356,558,031 317,115,652 s"n 471,359,944 458,043,770

cGo shf{ cg';"rL–@#

qm=;+= ljj/0f o; aif{ ut aif{-s_ bL3{sflng shf{ != clestf{nfO{ shf{ - - @= sd{rf/�LnfO{ shf{ 30,806,874 27,237,215 #= cGo -ljj/�0f v'nfpg]�_ - - hDdf -s_ 30,806,874 27,237,215 -v_ cNksflng shf{ != clestf{nfO{ shf{ 228,149,831 219,726,136 @= sd{rf/�LnfO{ shf{ - - #= cGo - - hDdf -v_ 228,149,831 219,726,136 hDdf -s±v_ 258,956,705 246,963,351





ldlt M @)&#÷!!÷!*

15

79

th Annual Report

Cash and Bank Balances Schedule -22

S.N. Particular Current Year Previous Year1 Cash Balance 114,801,913 140,928,118

Total (A) 114,801,913 140,928,118 2 Bank Balance

Deposit In Commercial Banks 352,212,900 317,115,652

Deposit In Development Banks 4,345,131 -

Deposit of Financial Institutions - -

Other - -

Total (B) 356,558,031 317,115,652 Total (A+B) 471,359,944 458,043,770

Other loans Schedule -23

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

2 Loans To Employees 30,806,874 27,237,215

3 Other - -

Total (A) 30,806,874 27,237,215 (B) Short Term Loan 1 Loans To Agents 228,149,831 219,726,136

2 Loans To Employees

3 Other - -

Total (B) 228,149,831 219,726,136 Total (A+B) 258,956,705 246,963,351





Date: 01.03.2017

!%

80


cGo ;DklQ cg';"rL–@$

qm=;+= ljj/0f o; aif{ ut aif{1 nufgLaf6 k|fKt x'g afFsL cfo 137,318,727 179,454,439 2 aLdfn]�vsf]� lwtf]�df shf{af6 k|fKt x'g afFsL Aofh 351,079,443 246,504,725 3 cGo -aLdfn]�vsf]� lwtf]�df afx]�s_ shf{af6 k|fKt x'g afFsL Aofh 334,307 571,987 4 cGo aLdsaf6 k|fKt x'g afFsL - - 5 k'gaL{dsaf6 k|fKt x'g afFsL - - 6 ljljw cf;fdL 203,992 829,433 7 clu|d s/� 945,363,377 729,931,102 8 sd{rf/�L k]�ZsL 40,345 47,870 9 cGo k]�ZsL 108,392,962 80,209,073 10 w/�f}�6L 251,000 251,000 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? 5,867,180 10,896,563 u= z]�o/�÷l8j]�Gr/� lgj]�bg - 50,166,667 3= pkbfg sf]�if gful/�s nufgL sf]�ifdf 12,468,251 7,683,366 ª a}�sdf r]�s hdf ePsf]� t/� s]�|l86 k|Kt gePsf]� 52,105,584 63,838,874 r= :�yug s/� 1,039,589 926,717

hDdf 1,614,464,757 1,371,311,815

rfn' bfloTj cg';"rL–@%

qm=;+= ljj/0f o; aif{ ut aif{1 clestf{nfO{ lbg afFsL 59,036,397 72,299,234 2 cGo aLdsnfO{ lbg afFsL - - 3 k'gaL{dsnfO{ lbg afFsL 30,366,917 9,855,556 4 cNksflng shf{ - - 5 aLdfz'Ns w/�f}�6L 30,585,637 28,998,145 6 k"0f{ ljj/�0f gv'n]�sf]� aLdfz'Ns 19,145,686 20,701,464 7 ljljw ;fx" 45,578,507 39,332,840 8 ;xfos÷xf]�lN8Ë sDkgLnfO{ lbg afFsL - - 9 >f]�tdf s§f ul/�Psf]� s/� ltg{ afFsL 139,160 6,266,127 10 d"No clea[l4 s/� ltg{ afFsL - - 11 cfos/� ltg{ afFsL 488,304,849 365,369,899 12 ;]�jf z'Ns ltg{ afFsL 70,701,064 54,161,374 13 ;+rfnsnfO{ lbg afFsL - - 14 cGo M - - :�yug s/� - - r]�s hf/�L ePsf]� t/� e'QmfgL gePsf]� /�sd 266,997,466 335,121,901 e'QmfgL gePsf]� d]�l8sn z'Ns 2,321,826 1,246,402 tna tyf eQf vr{ Joj:�yf 2,713,587 2,445,051 hDdf 1,015,891,096 935,797,994





ldlt M @)&#÷!!÷!*

15

81

th Annual Report

Other Assets Schedule -24

S.N. Particular current year previous year1 Interest Receivable Against Investments 137,318,727 179,454,439

2 Interest Receivable Against Policy Loans 351,079,443 246,504,725

3 Other Interest Receivable against loan(except of Policy Loan) 334,307 571,987

4 Receivable From Other Insurer (Insurance Pool) - -

5 Due from re-Insurer - -

6 Miscellaneous Debtors 203,992 829,433

7 Advance Tax 945,363,377 729,931,102

8 Staff advances 40,345 47,870

9 Other advances 108,392,962 80,209,073

10 Security Deposits 251,000 251,000

11 Outstanding insurance premuim - -

12 Less: outstanding insurance premium suspense - -

13 Others - -

a) Prepaid S.B. Claims - -

b) Prepaid Expenses 5,867,180 10,896,563

c) Debenture/ Share Application - 50,166,667

d) Gratuity Fund at CIT 12,468,251 7,683,366

e) Cheque deposited but not credited by Banks 52,105,584 63,838,874

f) Defferred Tax Assets 1,039,589 926,717 Total: 1,614,464,757 1,371,311,815

Current Liability Schedule - 25

S.N. Particular current year previous year1 Due to Agents 59,036,397 72,299,234

2 Due to other Insurer - -

3 Due to re-insurer 30,366,917 9,855,556

4 Short term loans - -

5 Deposit premium 30,585,637 28,998,145

6 Unidentified Premium 19,145,686 20,701,464

7 Miscellaneous creditors 45,578,507 39,332,840

8 Due to Associate/Holding company - -

9 TDS Payable 139,160 6,266,127

10 VAT Payable - -

11 Income Tax Payable 488,304,849 365,369,899

12 Service Charges Payable to Beema Samiti 70,701,064 54,161,374

13 Payable To Directors - -

14 Others - -

Defferred Tax - -

Cheque issued But Not Encashed 266,997,466 335,121,901

Medical Fee Payable 2,321,826 1,246,402

Salary Payable 2,713,587 2,445,051

Total 1,015,891,096 935,797,994





Date: 01.03.2017

!%

82

cf}+ jflif{s k|ltj]bgc

;d

fKt

hf]lv

d J

oj:

yf

c

g';"r

L–@^

qm=;

+= lj

j/0f

o;

aif{

ut

aif{

! a}�b

]�lzs

/�f]�h

uf/�

Psn

aLd

fz'Ns

aLd

fsf]� c

;df

Kt h

f]�lvd

hu]�8

f 118

,033

,567

6

4,693

,019

@

====

====

===a

Ldfs

f]� c;df

Kt h

f]�lvd

hu]�8

f –

–#

====

====

===a

Ldfs

f]� c;df

Kt h

f]�lvd

hu]�8

f –

–

–

–

hDd

f 1

18,0

33,5

67

64,6

93,0

19

cGo

Ao

j:y

f

cg';

"rL @

^s

qm=;

+= lj

j/0f

ai

f{sf] z

'?df A

oj:y

f rf

n' cf

=a=d

f rf

n' cf

=a=d

f rf

n' cf

=a=d

f ai

f{sf] c

Gtdf

yk u

l/Ps

f] Aoj

:yf

ckn]v

g÷e'Q

mfgL

ul/P

sf] Ao

j:yf

lk

mtf{ u

l/Ps

f] Aoj

:yf

sfo

d /x

]sf] A

oj:y

f

o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{ o;

jif{

ut j

if{!

nfe

f+z -

l8le

8]�08_

sf]� n

flu A

oj:�y

f 11

,257

,401

10,39

1,44

7 13

,959

,178

11

,257

,401

11

,257

,401

10,39

1,44

7

-

-

3,95

9,17

8 11

,257

,401

@

cfo

s/� A

oj:�y

f 10,77

9,26

5 11

,567

,625

-

-

-

-

4,06

3,84

6 78

8,36

0 6,71

5,41

9 10

,779

,265

#

nuf

gLdf

gf]�S

;fgL

sf]� n

flu A

oj:�y

f -

-

-

-

-

-

-

-

-

-

$ s

hf{d

f gf]�S

;fgL

sf]� n

flu A

oj:�y

f -

-

-

-

-

-

-

-

-

-

% z

+sfZk

b c

f;fd

Lsf]� n

flu A

oj:�y

f -

-

-

-

-

-

-

-

-

-

^ c

Go g

f]�S;f

gLs

f]� nflu

Aoj

:�yf

-

-

-

-

-

-

-

-

-

-

& s

d{rf/�L

;Da

GwL A

oj:�y

f 9

,028

,747

7,14

0,56

7 3

,155

,206

1

,959

,680

-

71,50

0

-

- 12

,183

,953

9,02

8,74

7

-s_

k]�G;g

tyf

pkb

fg A

oj:�y

f 8

,613

,857

6

,695

,371

5

,177

,160

4

,438

,330

2

,583

,648

2

,519

,844

-

- 11

,207

,369

8

,613

,857

-v_

ljbf

jfk

t Ao

j:�yf

-

-

-

-

-

-

-

-

-

-

-u

_ c

fjf;

tyf

cGo

;'lj

wf A

oj:�y

f 2

5,55

9,59

7 19

,996

,414

32,45

7,60

6 25

,172

,412

24,

997,69

2 1

9,60

9,22

9

-

- 33

,019

,511

25

,559

,597

-3_

sd{r

f/�L a

f]�g;

Aoj:�

yf

-

-

-

-

-

-

-

-

-

-

-ª

_ c

Go

-

-

-

-

-

-

-

-

-

-

* c

Go A

oj:�y

f -lj

j/�0f

v'n

fpg]�_

-

-

-

-

-

-

-

-

hD

df

65,

238,

868

55,7

91,4

24 5

4,74

9,15

0 42

,827

,824

38,

838,

742

32

,592

,020

4,

063,

846

7

88,3

60

77,0

85,4

30 6

5,23

8,86

8

ckn

]vg

÷;d

fof]h

g x

'g a

fFsL l

jljw

vr{x?

cg';

"rL–

@&

qm=;

+= lj

j/0f

o;

aif{

ut

aif{

1

c

kn]�v

g ug

{ afFs

L k|f/�lDes

vr

{ -

-

2

ckn

]�vg

ug{ a

fFsL k

"j{ ;+r

fng

vr

{ -

-

3 c

kn]�v

g ug

{ afFs

L nuf

gL lk

|ldod

4

ckn

]�vg

ug{ a

fFsL :�

yug

ul/�P

sf v

r{

14,672

,894

2

0,85

0,67

5

5

cGo

-lj

j/�0f

v'n

fpg]�_

-

-

h

Ddf

14,6

72,8

94

20,

850,

675

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

83

th Annual ReportPr

ovis

ion

for U

nexp

ired

risk

Sche

dule

-26

S.N.

Pa

rticu

lar

curr

ent y

ear

prev

ious

yea

r1

Unxp

ired

risk

prov

isio

n of

(O.E

Sin

gle

Prem

ium

) ins

uran

ce

118

,033

,567

6

4,69

3,01

9

2 Un

xpire

d ris

k pr

ovis

ion

of …

……

……

…in

sura

nce

-

-

3 Un

xpire

d ris

k pr

ovis

ion

of …

……

……

…in

sura

nce

-

-

-

-

To

tal

118

,033

,567

6

4,69

3,01

9

Othe

r Pr

ovis

ion

Sche

dule

-26

(A)

S.N.

Pa

rticu

lars

Pr

ovis

ion

at

Prov

isio

n fo

r the

Yea

r Am

ortiz

ed/ P

aym

ent

Writ

ten

Back

Pr

ovis

ion

at

Be

igni

ng o

f the

Yea

r

for t

he Y

ear

for t

he Y

ear

the

End

of th

e Ye

ar

cu

rrent

year

pr

evio

us ye

ar

curre

nt ye

ar

prev

ious

year

cu

rrent

year

pr

evio

us ye

ar

curre

nt ye

ar

prev

ious

year

cu

rrent

year

pr

evio

us ye

ar1

Priv

isio

n Fo

r Div

iden

d 1

1,25

7,40

1

10,

391,

447

1

3,95

9,17

8

11,

257,

401

1

1,25

7,40

1

10,

391,

447

-

-

1

3,95

9,17

8

11,

257,

401

2 Pr

ovis

ion

for l

oss

on In

vest

men

t 1

0,77

9,26

5

11,

567,

625

-

-

-

-

4

,063

,846

7

88,3

60

6,7

15,4

19

10,

779,

265

3 Pr

ovis

ion

for l

oss

on L

oan

-

-

-

-

-

-

-

-

-

-

4 Pr

ovis

ion

For b

ad D

ebts

-

-

-

-

-

-

-

-

-

-

5 Pr

ovis

ion

for o

ther

Los

s -

-

-

-

-

-

-

-

-

-

6 Pr

ovis

ion

For E

mpl

oyee

s -

-

-

-

-

-

-

-

-

-

a)

Pen

sion

and

Gra

tuity

9

,028

,747

7

,140

,567

3

,155

,206

1

,959

,680

-

7

1,50

0

-

-

12,

183,

953

9

,028

,747

b)

Lea

ve E

ncas

hmen

t 8

,613

,857

6

,695

,371

5

,177

,160

4

,438

,330

2

,583

,648

2

,519

,844

-

-

1

1,20

7,36

9

8,6

13,8

57

c)

Hou

sing

and

Oth

er B

enefi

t -

-

-

-

-

-

-

-

-

-

d)

Bon

us

25,

559,

597

1

9,99

6,41

4

32,

457,

606

2

5,17

2,41

2

24,

997,

692

1

9,60

9,22

9

-

-

33,

019,

511

2

5,55

9,59

7

e)

Oth

ers

-

-

-

-

-

-

-

-

-

-

7 Ot

her P

rovi

sion

-

-

-

-

-

-

-

-

-

-

To

tal

65,

238,

868

55

,791

,424

5

4,74

9,15

0

42,8

27,8

24

38,

838,

742

3

2,59

2,02

0

4,0

63,8

46

788

,360

7

7,08

5,43

0

65,

238,

868

Mis

cella

neou

s ex

pens

es (T

o th

e ex

tent

not

adj

uste

d /a

mor

tized

) Sc

hedu

le -2

7

S.N.

Parti

cula

r cu

rren

t yea

r pr

evio

us y

ear

1 Pr

elim

inar

y ex

pend

iture

(To

the

exte

nt n

ot w

ritte

n of

f) -

-

2 Pr

e- o

pera

tion

expe

nditu

re (T

o th

e ex

tent

not

writ

ten

off)

-

-

3 De

ferr

ed e

xpen

ses(

Prem

ium

on

inve

stm

ent t

o th

e ex

tent

not

writ

ten

off)

14,

672,

894

2

0,85

0,67

5

4 Ot

her(

To th

e ex

tent

not

writ

ten

off)

-

-

To

tal

14,

672,

894

2

0,85

0,67

5

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

84


cg';"rL – @*

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8

ljQLo ljj/�0f;+u ;DalGwt k|d'v n]�vf gLltx¿

!= ;fdfGo hfgsf/�L M

!=! sDkgLsf]� kl/�ro M

nfOkm OG:�of]�/�]�G; skf]�{/�]�zg -g]�kfn_ ln= g]�kfnl:�yt Ps

l;ldt bfloTj ePsf]� sDkgL xf]� . of]� sDkgL sDkgLP]�g

cGtu{t ldlt lj=;= !!÷)(÷@)%& -O{=;=@^ l8;]�Dj/�,

@)))_ df :�yfkgf ul/�Psf]� xf]� . o; sDkgLsf]� /�lhi68{

sfof{no eujtL jxfn, gS;fn, sf7df08f}�+, g]�kfn df /�x]�sf]�

5 . o; sDkgLsf]� z]�o/� g]�kfn lwtf]�kq ljlgdo ahf/� ln=df

;"lrs[t /�x]�sf]� 5 .

!=@ Aoj;fosf]� k|s[lt M

sDkgLn]� hLjg aLdf ;DjGwL sf/�f]�af/� ug{ aLdf ;ldltaf6

ldlt lj=;= !^÷)%÷@)%* -O{=;=! ;]�K6]�Dj/�, @))!_ df

cg'dlt k|fKt u/�L hLjg aLdf Aoj;fo ub}�{ cfO/�x]�sf]� 5 .

!=# ;+:�yfks Pj+ ;fwf/�0f z]�o/�wgLx¿ M

sDkgLsf]� d"Vo ;+:�yfksx¿df ef/�tLo hLjg aLdf lgud

-%% k|ltzt_ /� lazfn u|'k, g]�kfn -@% k|ltzt_ /�x]�sf 5g\ .

;j{;fwf/�0f z]�o/�wgLx¿sf]� @) k|ltzt lx:�;f /�x]�sf]� 5 .

!=$ ljlQo ljj/�0f hf/�L ug{ k|fKt :�jLs[lt M

ljlQo ljj/�0f hf/�L ug{ sDkgLsf]� ;~rfns ;ldltsf]�

*%cf}�+ a}�7s af6 ldlt @)&#.!!.!* df /� aLdf ;ldltaf6

ldlt @)&#.!@.)( df :�jLs[lt k|fKt ePsf]� 5 .

@= k|d'v n]�vf gLltsf]� ;+lIfKt ljj/�0f M

ljlQo ljj/�0fx¿ lgdf{0f ubf{ cjnDjg ul/�Psf k|d'v n]�vf

gLlt lgDg lnlvt /�x]�sf 5g . cGoyf pNn]�v ePsf]�df

afx]�s oL gLltx¿ lg/�Gt/� ?kdf nfu' /�x]�sf 5g\ .

@=! tof/�Lsf cfwf/�x¿ M

ljlQo ljj/�0fx¿ aLdf ;ldltåf/�f hf/�L ul/�Psf]� ljQLo

lgb]�{lzsf @)^% cg';f/�sf]� 9fFrfdf tof/� ul/�Psf]�5 . aLdf

;ldlt aLdf P]�g cg';f/� ljQLo ljj/�0fsf]� 9fFrf tof/� ug]�{

clwsf/� k|fKt lgsfo xf]� . pQm lgb]�{lzsfdf pNn]�v

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 were authorized for issue by the Board of Directors on 85th Board Meeting dated 01.03.2017 and by the Insurance Board on 22.03.2017

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:

Financial statements have been prepared in accordance with formats prescribed by Financial

15

85

th Annual Report

gePsf ljifo a:�t'nfO{ g]�kfn n]�vfdfgdf Aoj:�yf eP

cg';f/� ul/�Psf]� 5 .

ljQLo ljj/�0fx¿ g]�kfnL ?k}�+ofdf k|:�t't ul/�Psf 5g\ . gub

k|jfx jfx]�ssf ljQLo ljj/�0fx¿ P]�ltxfl;s nfut l;¢fGt

tyf cGoyf pNn]�v ul/�Psf]� cj:�yfdf afx]�s k|f]�befjL

(Accrual) l;¢fGt cg'?k tof/� ul/�Psf]� 5 .

@=@ g]�kfn n]�vfdfg;+usf k|d'v leGgtfx¿ M

s= aLdfz'Ns /� cGo cfDbfgLx¿ -aLdfz'Ns df Aofh_

nfO{ aLdf ;ldltsf]� lgb]�{zg adf]�lhd gub cfwf/�df

hgfOPsf]� tyf n]�vfÍg ul/�Psf]� 5 h'g g]�kfn n]�vfdfg

df lgb]�{lzt ul/�Psf]� Aoj:�yf cg'?k 5}�g . g]�kfn

n]�vfdfg cg':�ff/� k|fKt ePsf]� /� k|fKtx'g afFsL /�sd

;d]�t cfDbfgLdf n]�vfÍg ul/�g' kb{5 .

v= kl5 e'QmfgL ug'{kg]�{ sd{rf/�L ;'ljwfx¿ ljj/�0f tof/�

ubf{sf]� ldltnfO{ cjsf; ldlt dfgL ;f]� ldltdf sfod

x'g cfpg]� /�sdsf]� cfwf/�df u0fgf ul/�Psf]� 5 h'g g]�kfn

n]�vfdfg cg';f/� 5}�g . g]�kfn n]�vfdfg cg';f/� sDf{rf/�L

;]�jf afktsf]� bfloTjsf]� nfutsf]� jt{dfg d"Nodf u0fgf

ul/� n]�vfÍg ug'{ kb{5 .

#= a}�b]�lzs d'b|f M

ljb]�zL d'b|fdf ul/�Psf]� sf/�f]�jf/�nfO{ sf/�]�fjf/� ePsf]� ldltdf

sfod ljlgdo b/�cg'?k g]�kfnL d'b|fdf ?kfGt/�

ul/�Psf]� 5 . sDkgLsf]� s'g}�klg ;DklQ tyf bfloTj ljb]�zL

d'b|fdf /�x]�sf]� 5}�g .

$= l:�y/� ;DklQ M

:�jfldTjdf ePsf]� ;DklQ M

l:�y/� ;DklQ nfO{ nfut d"Nodf x|f; s§L /� Iflt gf]�S;fg

36fO{ b]�vfOPsf]� 5 . nfut d"Nodf vl/�b d"No /�

To;nfO{ ck]�lIft pkof]�u x'g]�ul/� sfo{ ug{ ;Sg]� cj:�yfdf

Nofpg nfu]�sf]� cGo ;j}� vr{x¿ ;dfj]�z 5g\ .

x|f; s§L M

s= l:�y/� ;DklQsf]� x|f; s§L 36\bf]� Xf; k|0ffnLsf]� b/�n]�

-cg'dflgt cfo'sf]� cfwf/�df_ ul/�Psf]� 5 . ljljw

;DklQ zLif{sx¿ cGtu{t lgDgfg';f/�sf]� Xf; s§L b/�

ckgfOPsf]� 5 .

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

!%

86


assets. The depreciation rates applied for various assets categories are as follows.

Types of Property Depreciation rate

Furniture & 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.

;DklQsf]� k|sf/� Xf; s§L b/�

kmlg{r/� /� lkmS;/�x¿ @%Ü

sfof{no ;fdu|L @%Ü

sDKo'6/� /� O=l8=lk= @%Ü

cb[Zo ;DklQ @%Ü

lnhdf lnOPsf]� ;DklQ @%Ü

;jf/�L ;fwgx¿ @)Ü

cGo ;DklQx¿ @%Ü

v= l:�y/� ;DklQ vl/�b u/�]�sf]� csf]�{ dlxgfb]�lv Xf; s§L ul/�

vr{ n]�Vg]� Aoj:�yf ul/�Psf]� 5 . ljqmL tyf ckn]�vg

ul/�Psf]� l:�y/� ;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 .

15

87

th Annual Report

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 .

Shares of public Companies:

The investments made in ordinary shares of public companies are accounted on cost price.

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. No such provisions are made for other insurance.

!%

88


*= 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= AofFh /� 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 M

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

k/�fdz{ tyf cg';Gwfg vr{ /� bfloTj :�jLsf/� u/�]�afktsf]�

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

15

89

th Annual Report

cGo k|ToIf 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{ afls 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 .

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 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. B.B.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 :

Shorttermemployeebenefits:

Short term benefits to employees are recognized on accrual basis.

Short term compensated absences:

Salary in lieu of leave is recognized on accrual basis.

RetirementBenefits:

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.

!%

90


!$= 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.

Gffkmf 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{ ljZjzlgo /�sdsf]� th'{df ug{ ;lsG5

eg]� sDkgLn]� cfjZos k|fjwfgsf]� Joj:�yf u5{ .

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 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.

AllocationbetweenProfitandLossAccountandRevenue 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.

15

91

th Annual Report

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 .

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 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 @)&#÷!!÷!*

!%

92


cg';"rL — @(

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8

ljQLo ljj/�0f;+u ;DalGwt n]�vf ;DalGw l6Kk0fLx¿

!= ;Defljt bfloTjx¿ M

s_ 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 /�sd ? @,)#,@%,@#&=!# xhf/�nfO{ 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 M

s_ 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 M

s_ 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/�÷Psf° 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. 228.07 lakh.

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

In the last valuation (till 15.07.2016), the gross Premium method of valuation was adopted. Next valuation will be done on the basis of financial statement of 15.07.2017, 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 2072/73(2015/16) amounting to Rs.2,03,25,237.13 thousand 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 Amount

A. Government Securities & Bond - B. Deposit in Commercial Banks 10,890,000,000/- C. Deposit in Development Banks 690,000,000/- D. Deposit in Finance Companies 170,000,000/- E. Shares / Units&Mutual Fund /

Debenture of Various Companies 425,720,449/- Total (A) 12,175,720,449/-

15

93

th Annual Report

v_ o; aif{ cjlw kl/�kSj eO{ laqmL ul/�Psf nufgL ljj/�0fx¿ M

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

u_ g]�kfn k'gaL{df sDkgL lnld6]�8af6 af8kmf8df k/�]�sf]� ?=%,)!,^^,^^&÷— j/�fj/�sf]� ;]�o/� /� Pg=Pd=aL= Soflk6n lnld6]�8 dfkm{t lnnfdL jf]�nsjf]�ndf k|fKt Ogf]�e]�l6e 8]�enkd]�G6 a}�+s lnld6]�8sf]� ?=**,((,*!*÷— j/�fj/�sf]� ;]�o/� @)&#=)#=#! ;Dd 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_ 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 .

-v_ ;+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 ? %),)))÷—;+rfnsx¿nfO{ e|d0f eQf ? @#,$%,$^^÷—>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_ ?= !@,##,!@* ÷—

Details of matured and sold Investments during the financial year:

Particulars Amount

A. Government Securities & Bond -B. Deposit in Commercial Banks 4,590,000,000/-C. Deposit in Development Banks 20,000,000/-D. Deposit in Finance Companies 50,000,000/-E. Shares / Units&Mutual Fund / Debenture of Various Companies 1,075,954,362/-Total (A) 5,735,954,362/-

B. Disclosure of Share Investment:

Nepal Re-insurance Company Ltd. has allotted share to us for sum of Rs. 50,166,667/- and Innovated Development bank Ltd has also allotted share to for sum of Rs. 88,99,818/- through auction by NMB Capital Ltd, which were not credited to our DMAT account till 15.07.2016.

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 Party

Vishal Group of Nepal holds 25% of shares of the Company and is entitled to nominate a director in the Company. Hence Bishal Group of Nepal is a related party.

C. Payments to Holding Company

A 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:

!%

94


>L clelht 3f]�if bl:�tbf/� -sf=d'= k|d'v sfo{sf/�L clws[t _ ?= $#,(*,)^#÷—>L /�fh]�z s'df/� rf}�w/�L - e'=k"=;xfos dxfk|aGws_ ?= #$,^!,#)(÷—>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]� cf=a= @)&!÷&@ ;Ddsf]� cfo ljj/�0f bflvnf ul/� ;s]�sf]� 5 . cf=a= @)^%÷^^ ;Ddsf]� s/� bfloTj jfkt s'g}� cltl/�Qm /�sd dfu gePsf]�n]� cf= a= @)^$÷^% /� @)^%÷^^ sf]� cfos/� Joj:�yf ?= $@,()^=$! xhf/� clu|d cfos/�df ;dfof]�hg ul/�Psf]� 5 . 7"nf s/�bftf sfof{non]� 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]�

ldltcfo s/� dfu -?=_

clu|d cfo s/� dfu -?=_

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

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¿df

jif{ cjlw %—!( @)—@$ @% jf ;f]� eGbf al9

af]�g; b/� ^!=)) ^%=)) &%=))

wglkmtf{ aLdf

aif{ cjlw !% @) @%

af]�g; b/� ^!=)) ^@=)) ^#=))

hLjg t/�+u aLdf

aif{ cjlw !) !% @)

af]�g; b/� ^!=)) ^#=)) &@=))

af]�g;b/� k|ltxhf/�df nfu" x'g]�5 .

Meeting Fees Paid to Board Members Rs. 1, 65,000.00

Meeting Fees paid to Audit Committee Members Rs. 50,000.00

Travelling & Board meeting Expenses Rs. 23,45,466.00

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. 96,31,601.00 Mr. S.C. Pattnayak (Ex- Designated CEO) Rs. 12,33,128.00 Mr. Rajesh Kumar Choudhary (Ex-Asst. G.M.) Rs. 34,61,309.00 Mr. Abhijit Ghosh Dastidar (DGM) Rs. 43,98,063.00 Mr. Sudhir Sagar (Manager IT) Rs. 66,14,502.00

In addition to above, furnished house is provided to all of them.

12. The company has filed tax returns up to F.Y. 2071-72. 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 and F.Y. 2068/69 and demanded the following 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.3,42,170.50

2067/68 2072.05.01 Rs.3,14,93,029.39 Rs.1,79,691.63

2068/69 2073.04.10 Rs.4,97,56,377.36 Rs.76,252.80

The Company is not satisfied with the assessment and has applied for administrative review against the above assessments made by the Large Taxpayer’s Office. Tax payable and advance tax for after F/Y 2066/67 to F/Y 2070/71 is separately shown as payable and receivable respectively.

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

14. The company has declared Vested Bonus up to 2072/073 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 75.00

MONEY BACK POLICIES:

TERM YEAR 15 20 25 BONUS RATE 61.00 62.00 63.00

JEEVAN TARANG POLICIES:

TERM YEAR 10 15 20 BONUS RATE 61.00 63.00 72.00

Bonus rates are applicable for per thousand.

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

15

95

th Annual Report

!%_ 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 C0fkqsf]� vl/�bdf e'StfgL ul/�Psf]� lk|ldod /�sdnfO

;f]� C0fkqsf]� e'Stfgcjlw leq ckn]�vg ul/�g]� gLlt /�x]�sf]�

5 . of]� /�sdnfO cg';'rL @& df b]�vfOPsf]� 5 .

!&_ cGo Joj:�yf lkmtf{ ljj/�0f M

z]�o/�df nufgL lzif{s cGtu{t ePsf]� gf]�S;fgL dWo]� o;

cf=a=df ?= $),^#,*$%=^@ tyf ut cf=a=df sd{rf/�L vr{

cGt{ut ?=@#,$^,$^(÷— a9L vr{ n]�vf+sg ePsf]�df ;f]�

/�sd c;'n u/�LPsf]� 5 h;nfO{ cg';'lr @ sf]� j'bf g= !(

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 .

@!_ ut aif{;Ddsf]� c:�jLs[t d[To' bfaLx¿dWo]� ? @@)=%# nfv

a/�fa/�sf]� d'To' bfaL dWo]� pRr cbfnt kf6gdf Pp6f d'2f

larf/�fwLg /�x]�sf]�df pRr cbfnt kf6gsf]� lg0f{o adf]�lhd

cf=a= @)&@÷&# df ? ! nfv e'QmfgL ul/�Psf]�]� 5 .

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.

16. Details of expenses not 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.

17. Details of Other provision written off/Back:

Loss on investment of shares has been written back amounting Rs. 40,63,845/62 is shown in Annexure 12 and expenses excess booked/ paid in previous year against education expenses now being recovered amounting Rs. 23,46,469/-is shown in Annexure 2 sl. No. 19.

18. Change in share capital during the year is as bellow:

Share capital in the beginning of the year 855,562.50 thousand.Issue of Bonus share 213,890.625 thousand.Total Share Capital 1,069,453.125 thousand

There 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. Out of Repudiated Death claim amounting to Rs. 220.53 lakhs till 15.07.2016, claim amounting to one lakh was under disputed till last fiscal year (2071/72) and as per decision of High Court, Patan The company has paid Rs. 100000/- during the year 2072/73.

22. TAX

22.1 Deferred Tax:

The Company has recognized deferred tax assets amounting to Rs 10,39,589/- which resulted from the timing differences between the Book Profit and Tax Profit, up to current year ended Ashad 31,2073( July 15,2016 ) in Profit & Loss Account, the details of which is as under:

ParticularsBalance as

on Shrawan 1, 2072

Arising during the

year

Balance as at Ashad 31, 2073

Deferred Tax Assets (Liabilities)On account of timing difference in:

a) Fixed assets (3,66,470) (55,668) (4,22,138)

!%

96


@@_ s/� M

@@=! :�yug s/� M

o; 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;fa

s_ l:�y/� ;DklQ -#,^^,$&)_ -%%,^^*_ -$,@@,!#*_

v_ :�yug vr{ -!),@#,#^*_ @,(@,@&) -&,#!,)(*_

u_ nufgL 18,36,933 -@,(@,$*&_ 15,44,446

3_ pkbfg÷ljbf afktsf]� /�sd

4,79,622 1,68,757 6,48,379

v'b - bfloTj_ 9,26,717 1,12,872 10,39,589

@@=@ lalto gfkmf /� s/� of]�Uo gfkmf larsf]� lx;fa ldnfg

ljj/�0f /�sd - ?=_ /�sd - ?=_

cfo Joo lx;fjsf]� art 65,38,426,292

hDdf:� cfos/� Joj:�yf 11,96,81,037 6,65,81,07,328

gfkmf gf]�S;fg lx;fasf]� gfkmf 32,14,35,018

:�yug s/� 31,41,041 32,45,76,059

s/� clwsf]� gfkmf 6,98,26,83,387

ljlTfo gfkmfdf cfos/� 1,74,56,70,847

cfos/� s/� adf]�lhdsf]� km/�s

hLjg ladf sf]�ifaf6 ;f/�]�sf]� gfkmf –7,55,93,279_

z]�o/� nfef+; –1,74,159_

x|f; –2,02,877_

gf]�S;fgLdf Joj:�yf –10,15,961_

c;dfKt hf]�lvd Joj:�yf 1,33,35,137

nufgL vl/�bdf g]�S;fg 15,44,446

bfloTj lg;u{af6 gf]�S;fgL 76,059

s§L ug{ gkfpg]� vr{ 7,13,228

rGbf 1,29,905

:�yug nufgL lk|ldod –8,13,347_

ljdf z'Ns cfDbfgL 6,95,80,11,329

jfFsL bfjL Joj:�yfdf kl/�jt{g –46,06,824_

bfjL km5f}�{6 e'QmfgL –71,04,64,311_

v'b cfDbfgL 6,24,29,40,195

cfos/� ad]�lhd 5'6 - -

6,24,29,40,195 –1,56,07,35,049_

cfos/� ad]�lhd km/�s - –1,62,27,35,897_

cfos/� ad]�lhd v'b s/� - 12,29,34,950

b) Deferred Expenditure (10,23,368) 2,92,270 (7,31,098)

c) Investment 18,36,933 (2,92,487) 15,44,446

d) Gratuity/ Leave Encashment 4,79,622 1,68,757 6,48,379

Net (Assets) 9,26,717 1,12,872 10,39,589

22.2 Reconciliation between Financial profit and taxable profit:

Particulars Amount Amount

Surplus as per Revenue Account

6,538,426,292

Add: Provision for Income Tax

119,681,037

6,658,107,328

Profit as per Profit and Loss Account 321,435,018

Adjusted Tax (Deferred Tax+Tax) 3,141,041

324,576,059

Surplus/Profit before Tax 6,982,683,387

Income Tax as per Financial Surplus/Profit

1,745,670,847

Tax differences as per Income Tax Profit recognized from Life Fund (75,593,279)

Dividend from shares (174,159)

Depreciation (202,877)

Repairs and Maintenance -

Provision for Loss (1,015,961)

Amortization -

Profit /Loss transferred from Revenue A/c -

Provision for unexpired risk 13,335,137

Loss on purchase of investment 1,544,446

Loss from Disposal of Assets 76,059

Expenses Disallowed 713,228

Donation 129,905

Deferred Premium (813,347)

Premium Income 6,958,011,329

Change in provision for outstanding claim (4,606,824)

Claims Paid (710,464,311)

Net Income 6,242,940,195

Allowed as per Income tax act -

15

97

th Annual Report

@#_ sd{rf/�L cfjf; sf]�if M

sDkgLn]� sd{rf/�Lx¿nfO{ cfjf; shf{ pknAw u/�fpg z'?

u/�]�klg k|rlnt >d P]�g cg';f/� sd{rf/�L af;:�yfg sf]�if v8f

ul/�Psf]� 5}�g .

@$_ sd{rf/�L af]�g; Joj:�yf M sd{rf/�Lx¿sf]� nfuL s/� clwsf]�

gfkmfaf6 @ !)Ü af]�g;sf]� Aoj:�yf ul/�Psf]� 5 .

@%_ dxf–ljklQ hu]�8f M

aLdf ;ldltsf]� lgb]�{zg adf]�lhd o; aif{sf]� gfkmf af6

afF8kmfF8sf]� nfuL pknAw /�sdsf]� !)Ü 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 M k|lt z]�o/� cfDbfgLsf]� u0fgf ?=#)

ul/�Psf]� 5, ut aif{ k|lt z]�o/� cfDbfgL ?= @( /�x]�sf]� lyof]� .

@*_ 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 .

6,242,940,195 (1,560,735,049)

Tax differences as per Income Tax - (1,622,735,897)

Net Tax as per Income Tax - 122,934,950

23. Staff Housing Fund:

Since the Company has been extending housing loan to its employees, provision for staff housing fund as required by the labour Act 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.88230.92 thousand.

26. Capital Commitment: There is no capital commitment.

27. Earnings Per share:

The Basic earnings per share have been calculated as Rs.30 and previous year Rs. 29.

28. 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.





Date: 01.03.2017





ldlt M @)&#÷!!÷!*

!%

98

cf}+ jflif{s k|ltj]bgk|d

'v ;

"rs

f°x?

cg';

"rL #

)

qm=;

+= lj

j/0f

;"r

sfÍ

cf

=a=

207

2-07

3

207

1-07

2

207

0-07

1

206

9-07

0

206

8-06

9 !

g]�6 j

y{ ?=

1,5

66,662

,296

1

,259

,186

,456

9

89,5

34,159

6

73,877

,306

4

08,5

76,178

@

z]�o/�

;+Vo

f ;+V

of

10,69

4,5

31

8,5

55,625

6

,581

,250

4

,050

,000

2

,500

,000

#

k|lt

z]�o/�

lstf

jL d

"No

?=

146

1

41

1

50

166

1

67

$

v"b

gfkm

f ?=

3

21,4

35,018

2

49,04

2,17

5

194

,829

,700

2

77,346,21

6

171

,774

,428

%

k|lt

z]�o/�

cfo

(EPS

) ?=

3

0

29

3

0

68

6

9 ^

k|lt

z]�o/�

nfe

f+z (D

PS)

?=

-

26.

32

31.58

6

5.79

6

5.26

&

k|lt

z]�o/�

ah

f/� d"N

o (M

PPS)

?=

3

,580

2

,799

4

,095

1

,320

8

70

* d"N

o c

fDbfg

L cg'k

ft (P

E Ra

tio)

cg'k

ft

119

9

6

138

1

9

13

( k|y

d ai

f{sf]� a

Ldfz

'Ns

?=

2,265

,203

,206

1

,819

,183

,646

1

,283

,507

,493

9

18,944,352

8

44,236

,401

!)

s

'n a

Ldfz

'Ns

?=

7,070

,106

,357

5

,416

,137

,435

4

,154

,512

,503

3

,168

,604

,126

2

,537

,646,93

8 !!

v

"b aL

dfz

'Ns÷s

'n a

Ldfz

'Ns

k|ltz

t 9

8

98

9

9

99

1

00

!@

v"b

gfkm

f÷s

'n a

Ldfz

'Ns

k|ltz

t 5

5

5

9

7

!#

s

'n a

Ldfz

'Ns÷s

'n ;

DklQ

k|l

tzt

24

24

24

24

26

!$

nuf

gL /�

sh

f{af6

cfo

÷s'n

nuf

gL /�

sh

f{ k|l

tzt

6.8

3

7.2

5

8.2

2

8.6

6

8.6

6 !%

s

'n n

ufgL

/� s

hf{÷

hLj

g aL

dfs

f]�if

k|ltz

t 1

01

100

9

9

102

1

00

!^

k'gaL

{df s

ldz

g c

fo÷s

'n k

'gaL{d

fz'Ns

k|l

tzt

12

8

1

0

24

19

!&

Joj:�

yfkg

vr

{÷s

'n a

Ldfz

'Ns

k|ltz

t 6

.59

6

.90

7

.13

7

.00

9

.79

!*

aLdf

cle

stf

{ ;Da

lGw v

r{÷

s'n

aLd

fz'Ns

k|l

tzt

11.86

1

2.74

1

2.78

1

2.00

1

2.81

!(

aL

df c

les

tf{ ;

+Vof

;+Vof

3

5,94

3

32,97

2

29,438

2

6,441

2

5,14

2 @)

s

d{rf/�L

;+Vo

f ;+V

of

136

1

33

128

1

10

97

@!

sfo

f{nos

f]� ;+Vo

f ;+V

of

34

32

3

1

27

1

5 @@

s

d{rf/�L

vr

{÷Jo

j:�yf

kg v

r{

k|ltz

t 2

0.37

2

2.01

2

7.21

2

0.00

1

4.6

6 @#

s

d{rf/�L

vr

{÷s

d{rf/�L

;+Vo

f ?

= 6

97,956

6

18,281

6

30,179

3

79,808

3

75,4

71

@$

e'Qmfg

L x'g

aFfs

L bfj

L /�s

d÷e'Q

mfgL e

Psf]� b

fjL /�

sd

k|ltz

t 2

.36

2

.15

1

.47

1

.93

1

.93

@%

s'n

sfo

d /�x

]�sf]� a

Ldfn

]�vs

f]� ;+Vo

f ;+V

ofdf

6

27,266

5

18,5

46

4

05,817

3

21,683

3

44,5

53

@^

o; j

if{ gj

Ls/�0

f ePs

f]� aLd

fn]�v

sf]� ;

+Vof÷

ut j

if{ s

fod

/�x]�s

f]� aLd

fn]�v

sf]� ;

+Vof

k|ltz

t 8

8.71

9

3.25

9

3.25

9

3.00

9

0.25

@&

bf

jL k

/�]�sf]� a

Ldfn

]�vs

f]� ;+Vo

f÷s

'n s

fod

/�x]�s

f]� aLd

fn]�v

sf]� ;

+Vof

k|ltz

t 0

.01

0

.01

0

.01

0

.01

0

.01

@*

;f]�Ne

]�G;L d

flh{g

k|ltz

t 3

.81

2

.04

4.3

8

2.8

1

2.0

5 @(

3f

]�lift

af]�g;

b/�

?= k

|ltxh

f/� 6

1-75

6

1-75

6

1-75

6

1-75

5

5-71

#)

c

Gtl/�d

af]�g

; b/�

?=

k|lt

xhf/�

61-

75

61-

75

61-

75

61-

75

55-

71

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

99

th Annual ReportM

ain

Indi

cato

r Sc

hedu

le -3

0

SN.

Parti

cula

rs

Indi

cato

r Fi

scal

Yea

r Fi

scal

Yea

r Fi

scal

Yea

r Fi

scal

Yea

r Fi

scal

Yea

r

2072

-073

20

71-0

72

2070

-071

20

69-0

70

2068

-089

(2

015/

16)

(201

4/15

) (2

013/

14)

(201

2/13

) (2

011/

12)

1 Ne

t wor

th

Rs.

1,5

66,6

62,2

96

1,2

59,1

86,4

56

989

,534

,159

6

73,8

77,3

06

408

,576

,178

2 No

. of S

hare

s Nu

mbe

r 1

0,69

4,53

1

8,5

55,6

25

6,5

81,2

50

4,0

50,0

00

2,5

00,0

00

3 Bo

ok v

alue

per

sha

re

Rs

146

1

41

150

1

66

167

4 Ne

t pro

fit

Rs

321

,435

,018

2

49,0

42,1

75

194

,829

,700

2

77,3

46,2

16

171

,774

,428

5 Ea

rnin

g pe

r sha

re(E

PS)

Rs

30

2

9

30

6

8

69

6 Di

vide

nd p

er s

hare

(DPS

) Inc

ludi

ng B

onus

sha

re

Rs

-

26.

32

31.

58

65.

79

65.

26

7 M

arke

t pric

e pe

r sha

re (M

PPS)

Rs

3

,580

2

,799

4

,095

1

,320

8

70

8 Pr

ice

Earn

ing

Ratio

(PE

Ratio

) Ra

tio

119

9

6

138

1

9

13

9 Fi

rst Y

ear P

rem

ium

Rs

2

,265

,203

,206

1

,819

,183

,646

1

,283

,507

,493

9

18,9

44,3

52

844

,236

,401

10

Tota

l Pre

miu

m

Rs

7,0

70,1

06,3

57

5,4

16,1

37,4

35

4,1

54,5

12,5

03

3,1

68,6

04,1

26

2,5

37,6

46,9

38

11

Net P

rem

ium

/ To

tal P

rem

ium

%

9

8

98

9

9

99

1

00

12

Net P

rofit

/ To

tal P

rem

ium

%

5

5

5

9

7

13

Tota

l Pre

miu

m /

Tota

l Ass

ets

%

24

2

4

24

2

4

26

14

Inco

me

from

loan

, inv

estm

ent/T

otal

Loa

n, in

vest

men

t %

6

.83

7

.25

8

.22

8

.66

8

.66

15

Tota

l Inv

estm

ent,

loan

/ Li

fe fu

nd

%

101

1

00

99

1

02

100

16

Re-in

sura

nce C

omm

ission

inco

me /

Tot

al re

-insu

ranc

e pre

mium

%

1

2

8

10

2

4

19

17

Man

agem

ent e

xpen

ses

/ Tot

al p

rem

ium

%

6

.59

6

.90

7

.13

7

.00

9

.79

18

Agen

ts E

xpen

ses

/ Tot

al p

rem

ium

%

1

1.86

1

2.74

1

2.78

1

2.00

1

2.81

19

No. o

f Age

nts

Num

ber

35,

943

3

2,97

2

29,

438

2

6,44

1

25,

142

20

No. o

f Sta

ffs

Num

ber

136

1

33

128

1

10

97

21

No. o

f Bra

nche

s Nu

mbe

r 3

4

32

3

1

27

1

5

22

Empl

oyee

exp

ense

s / M

anag

emen

t Exp

ense

s %

2

0.37

2

2.01

2

7.21

2

0.00

1

4.66

23

Empl

oyee

exp

ense

s / N

o. o

f sta

ff Rs

6

97,9

56

618

,281

6

30,1

79

379

,808

3

75,4

71

24

O/s

clai

m a

mou

nt/ P

aid

clai

m

%

2.3

6

2.1

5

1.4

7

1.9

3

1.9

3

25

No. o

f tot

al p

olic

ies

Num

ber

627

,266

5

18,5

46

405

,817

3

21,6

83

344

,553

26

Curr

ent y

ear's

rene

wed

pol

icie

s \ l

ast y

ear's

tota

l pol

icie

s %

8

8.71

9

3.25

9

3.25

9

3.00

9

0.25

27

No. o

f pol

icie

s of

cla

ims/

Tot

al p

olic

ies

%

0.0

1

0.0

1

0.0

1

0.0

1

0.0

1

28

Solv

ency

Mar

gin

%

3.8

1

2.0

4

4.3

8

2.8

1

2.0

5

29

Vest

ed B

onus

Rat

e Rs

. per

thou

sand

6

1-75

6

1-75

6

1-75

6

1-75

5

5-71

30

Inte

rim B

onus

Rat

e Rs

. per

thou

sand

6

1-75

6

1-75

6

1-75

6

1-75

5

5-71

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

100

cf}+ jflif{s k|ltj]bgaL

df°

sf] l

jj/0

f

c

g';"r

L –#!

qm=;

+= aL

dfsf

] lsl;

d sf

od /

x]sf]

sfod

/x]s

f] aLd

fn]v

;d o

f6 l/

:s (S

um a

t Ris

k)

k'gaL

{dsnf

O{ x:

tfGt

/0f

aLds

n] wf

/0f u

/]sf]

aLdf

n]vsf

] ;+Vo

f cG

tu{t

hDdf

aLd

fÍ

ul

/Psf

] ;d

of6

l/:s

(Sum

at R

isk)

;d

of6

l/:s

(Sum

at R

isk)

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

o; j

if{ ut

jif{

1 ;

fjlw

s

281

,159

2

28,4

17

59,033

,912,7

50 37

,501

,451

,000

48

,068

,195,08

0 3

0,53

5,44

9,515

12

,621,1

30,349

8

,611,3

56,526

35

,447

,064

,731

21

,924,

092,9

89

2 c

lu|d

e'Qmfg

L ;fj

lws

5

9,679

5

9,568

11

,953,71

3,35

0

9,072

,206,3

50

8,541

,164,

556

6,4

82,27

0,82

7

1,050

,321

,406

1

,210,17

8,404

7

,490

,843,15

0 5,27

2,092

,423

3

?kfGt

l/�t ;

fjlw

s

116

,206

1

12,036

48

,173,71

8,000

33

,680,54

1,000

39

,495

,164,

160

27,61

2,950

,609

20,14

4,01

1,603

18

,899,0

26,4

83

19,351

,152,5

57

8,713

,924,

126

4 c

fhLj

g

11,5

55

10,31

0 1

1,342

,420

,000

7

,281,1

40,000

11

,159,7

93,731

7

,163,90

5,10

4 6,2

44,28

7,14

9 6

,764

,663,62

3

4,91

5,50

6,582

3

99,24

1,481

5

DofbL

3

2,682

2

9,681

7

,872,6

12,000

3

,217,60

0,00

0

7,26

1,717

,489

2

,967,92

2,488

1

38,303

,843

1

83,026

,511

7

,123,41

3,64

6 2,7

84,89

5,97

7 6

ljz]�i

f Dof

bL

878

8

59

313

,300

,000

1

74,500

,000

2

73,079

,851

1

52,098

,417

1

6,091

,665

2

6,130

,531

2

56,98

8,186

1

25,96

7,88

6 7

Psn

aLd

fz'Ns

8

60

478

1

40,67

7,50

0

46,2

17,500

1

41,012

,320

4

6,327

,500

-

-

141

,012

,320

4

6,327

,500

8

a}�b]�lz

s /�f]�h

uf/� P

sn a

Ldfz

'Ns

124

,247

7

7,19

7 4

1,600

,500

,000

38

,598

,500

,000

30

,975,79

3,62

5 2

8,740

,500

,000

24

,996,6

00,000

20

,118,3

50,000

5

,979,1

93,62

5

8,622

,150,00

0

hDdf

627

,266

5

18,546

18

0,430

,853,6

00 12

9,572

,155,85

0 1

45,91

5,92

0,812

10

3,701

,424

,460

65

,210,7

46,01

5 5

5,81

2,732

,078

80,7

05,17

4,79

7 47

,888,6

92,38

2

l;P=

la=s

]�� cu

|jfn

Dofg

]�lhË

kf6{g

/�lg= la=s

]� cu|j

fn P

08 s

DkgL

rf6{8

Psfp

06]�G6

;\

ljlk

g s

'df/�

nfn

c

lelh

t 3f

]��if bl

:�tbf

/� s

'df/�

s]��z

/� lj

i6

piff

;f+u

jfg

;xfos

k|aG

ws -ljQ=_

sf=d

'= k|d

'v s

fo{sf/�L

lgb]�{z

s

lgb]�{z

s

clws[t÷

lgb]�{z

s

le=s

]�� s's

\/�]��hf

cz

f]��s c

u|jf

n

jL= s

]��= zd

f{ lgb]�{z

s

lgb]�{z

s

cWo

If

;+nUg

k|lt

j]�bgs

f]� cfw

f/�df

ldlt

M @

)&#÷

!!÷!*

15

101

th Annual Report

Actu

ary

Repo

rt Sc

hedu

le -

31

S.No

. Ty

pes o

f Ins

uran

ce

In-fo

rce

No. O

f Pol

icies

To

tal S

um A

ssur

ed

Sum

at R

isk

Sum

at R

isk

Sum

at R

isk b

orne

by i

nsur

er

trans

ferre

d to

re-in

sure

r

Cu

rrent

Yea

r Pr

evio

us Y

ear

Curre

nt Y

ear

Prev

ious

Yea

r Cu

rrent

Yea

r Pr

evio

us Y

ear

Curre

nt Y

ear

Prev

ious

Yea

r Cu

rrent

Yea

r Pr

evio

us Y

ear

1 En

dowm

ent

281

,159

2

28,4

17

59,

033,

912,

750

37

,501

,451

,000

48

,068

,195

,080

3

0,53

5,44

9,51

5

12,6

21,1

30,3

49

8,6

11,3

56,5

26

35,

447,

064,

731

21,

924,

092,

989

2 An

ticip

ated

End

owm

ent

59,

679

5

9,56

8

11,9

53,7

13,3

50

9,0

72,2

06,3

50

8,5

41,1

64,5

56

6,4

82,2

70,8

27

1,0

50,3

21,4

06

1,2

10,1

78,4

04

7,4

90,8

43,1

50

5,2

72,0

92,4

23

3 M

odifi

ed E

ndow

men

t 1

16,2

06

112

,036

4

8,17

3,71

8,00

0

33,6

80,5

41,0

00

39,4

95,1

64,1

60

27,

612,

950,

609

20

,144

,011

,603

18

,899

,026

,483

1

9,35

1,15

2,55

7

8,7

13,9

24,1

26

4 W

hole

Life

Pol

icy

11,

555

1

0,31

0

11,3

42,4

20,0

00

7,2

81,1

40,0

00

11,1

59,7

93,7

31

7,1

63,9

05,1

04

6,2

44,2

87,1

49

6,7

64,6

63,6

23

4,9

15,5

06,5

82

399

,241

,481

5 Te

rm In

sura

nce P

olicy

3

2,68

2

29,

681

7

,872

,612

,000

3

,217

,600

,000

7

,261

,717

,489

2

,967

,922

,488

1

38,3

03,8

43

183

,026

,511

7

,123

,413

,646

2

,784

,895

,977

6 Sp

ecial

Ter

m P

olicy

8

78

859

3

13,3

00,0

00

174

,500

,000

2

73,0

79,8

51

152

,098

,417

1

6,09

1,66

5

26,

130,

531

2

56,9

88,1

86

125

,967

,886

7 Ot

her L

ife In

sura

nce

860

4

78

140

,677

,500

4

6,21

7,50

0

141

,012

,320

4

6,32

7,50

0

-

-

141

,012

,320

4

6,32

7,50

0

(E

ndow

men

t Sin

gle P

rem

ium

)

8 Ot

her L

ife In

sura

nce

124

,247

7

7,19

7

41,6

00,5

00,0

00

38,

598,

500,

000

30,

975,

793,

625

28

,740

,500

,000

2

4,99

6,60

0,00

0 2

0,11

8,35

0,00

0

5,9

79,1

93,6

25

8,6

22,1

50,0

00

(O

vers

eas E

mpl

oym

ent S

.P.)

To

tal

627,

266

518,

546

180,

430,

853,

600

129,

572,

155,

850

145,

915,

920,

812

103,

701,

424,

460

65,2

10,7

46,0

15

55,8

12,7

32,0

78

80,7

05,1

74,7

97

47,8

88,6

92,3

82

Bipi

n Ku

mar

Lal

Ab

hijit

Gho

sh D

astid

ar

Kum

ar K

esha

r Bis

ta

Usha

San

gwan

Asst

. Man

ager

(F&A

) Ac

ting

CEO/

Dire

ctor

Di

rect

or

Dire

ctor

V. K

. Kuk

reja

As

hok A

graw

al

V.K

. Sha

rma

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

: 01.

03.2

017

!%

102


15

103

th Annual Report

!%

104


15 th Annual Report

105


106

15 th Annual Report

107

��

��

��

��

��

��

� ��

��

��

��

� ��

��

��

��

��

�� ¡�� ¢�� £�� ¢�� ¤��

��¢��¡�� ¢��£�� ¡�� ¢�� ¥��¦��§��¦��¤�� ¡�� ¨��


108

15 th Annual Report

109

's Jeevan TaranghLjg t/·

's Money Back Planwg lkmtf{ of]hgf

Loyalty

bz


110

aLdf° /sd ?= !) nfvpd]/ ;d'x / ;f] cg';f/ nfUg] aLdfz'Ns /sd's Foreign Employment Plan

a}b]lzs /f]huf/ of]hgf

's Jeevan SaralhLjg ;/n

aLdf cjlwpd]/ ;d"x

3fts /f]u jfktsf]

aLdf° ?= kf“r

nfvsf] aLdf z'Ns

-;a} pd]/ ;d"xsf]

nflu_

!*–#%jif{ #^–%) jif{ %!–^$ jif{ ^$ jif{eGbf dflysf]� aLdfz'Ns aLdsn]�

lgwf{/�0f u/�]� adf]�lhd x'g]� . t/� ;:�tf]� yk aLdfz'Ns %! b]�lv ^$ aif{;Ddsf]� pd]�/� ;d"xsf]� aLdfz'Nssf]� %) k|ltzt eGbf a9L x'g]� 5}�g .

?= $))

@ jif{ ?= @,^$^ ?= @,^@% ?= &,@%)

# jif{ ?= #,%@$ ?= $,(#) ?=(,%&)

$ jif{ ?= $,$@# ?=^,)() ?=!@,)#%

% jif{ ?= %,!$* ?= &,!)% ?= !$,%))

^ jif{ ?= %,&@* ?= *,$!! ?=!^,*@)

15 th Annual Report

111

's Jeevan AsthahLjg cf:yf

's Child Endowment Planafn ;fjlws of]hgf

SinglePremium

shf{ /;dk{0f ;'ljwf

lgDg z'Nsdfhf]lvd axg

pRr hf]lvdaxg

;'lglrtyk nfe

bz


112

15

113

th Annual Report

gf]6 Note

!%

114


gf]6 Note

Chabahil Branch Chabahil, Kathmandu Phone: 01 - 4481686

Kathmandu Branch First Floor, Bhim Plaza Naxal, Kathmandu Ph. No. 01-4415951

Banepa Branch Banepa, Kavre Ph No: 011-663549

Rajbiraj Branch Rajbiraj - 3, Neta Chowk Phone: 031 - 523818

Corporate Office PO Box No: 21905 Bhagawati Bahal, Naxal Kathmandu, Nepal Ph No: 01-4443616, 4443617 Fax: 01-4437601

;kmntf – lg/Gt/tf

Pn= cfO{= ;L= g]kfn ;uf}/a k|:t't ub{5 .

af]g; af]g;o; sDkgLsf] d'gfkmfdf ;l/s x'g] -af]g; cfh{g x'g]_ u/L hf/L ul/Psf hLjg aLdfn]vx? cGtu{t cf=j= @)&@÷)&# sf nflu k|lt xhf/ k|lt jif{ lgDg adf]lhd af]g; b/ sfod ul/Psf] Joxf]/f ;–uf}/a hfgsf/L u/fp“b5f} .

aLdf of]hgf aLdf cjlw af]g; b/

@% jif{ jf ;f]eGbf dfly ?= &%

;fjlws hLjg aLdf @)–@$ jif{;Dd ?= ^%

%–!( jif{;Dd ?= ^!

@% jif{ ?= ^#

@) jif{ ?= ^@

!% jif{ ?= ^!

@) jif{ ?= &@

!% jif{ ?= ^#

!) jif{ ?= ^!

clu|d e'QmfgL ;fjlwshLjg aLdf

hLjg t/· hLjg aLdf

o; sDkgLsf] aLdf Joj;fosf] cfufdL aLdf°Lo d"Nof°g geP;Ddsf nflu cGtl/d af]g; b/ pk/f]Qm adf]lhd sfod /xg]5 . g]kfnsf] hLjg aLdf pBf]udf o; sDkgLsf] af]g; b/ pRrtd Pj+ P]ltxfl;s /x]sf] ;xif{ hfgsf/L u/fp“b} o; ;kmntfsf] nflu xfdL xfd|f ;Dk"0f{ aLldt, sd{rf/L, clestf{, Ph]G;L Dofg]h/, z]o/wgL, aLdf ;ldlt, ;/f]sf/jfnf lgsfo / z'e]R5'sx?df xflb{s s[t1tf JoQm ub{5f}+ .

skf]{/]6 sfof{no, gS;fn, eujtLaxfn, sf7df08f}+kmf]gM )!–$$$#^!^, j]e;fO6M www.licnepal.com.np

-hLjg cfgGb ;lxt_

?=?=@% aif]{ hLjg cfgGb tyf ;fjlws aLdf of]hgfdf

pRrtd af]g; b/pRrtd af]g; b/

fi6« lgdf{0fdf of]ubfg===

Documents