National Life Insurance Approves Eight-Year Financial Reports Amid Governance Reforms

National Life Insurance Company, Nepal's sole state-owned life insurer, has approved its long-pending financial reports dating back eight years following the completion of recent General Assemblies. These assemblies covered fiscal years from 2069 to 2078, during which the annual financial statements, including profit and loss accounts and auditor reports, were ratified. The company also passed resolutions to increase paid-up capital and authorized amendments to its management policies to improve governance.

Additionally, the Board of Directors appointed external auditors Subash Poudel and Bijay Singh Parajuli with cabinet approval, aiming to enhance institutional transparency. These actions mark a significant step towards addressing past governance issues and aligning the insurer's financial oversight with regulatory standards.