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आधिकारिक सूचनाOfficial AnnouncementFinancial Analysis
13 Aug, 2026
सानिमा रिलायन्स लाइफ इन्स्योरेन्सको चौथो त्रैमासिक वित्तीय विवरण

सानिमा रिलायन्स लाइफ इन्स्योरेन्सको चौथो त्रैमासिक वित्तीय विवरणSanima Reliance Life Insurance Fourth Quarter Financial Results

वर्ग:Category:
Financial Analysis
प्रकाशित मिति:Published:
Published on August 13, 2026

SANIMA RELIANCE LIFE INSURANCE LIMITED

Quarterly Financial Results for Fourth Quarter, F.Y. 2082/83

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Fig in NPR.

Particulars Unaudited At the end of this Quarter Audited At the end ofImmediatePrevious Year
Goodwill & Intangible Assets36,834,75836,639,039
Property and Equipment348,468,231421,721,235
Investment Properties--
Deferred Tax Assets7,830,13015,432,624
Investment in Subsidiaries--
Investment in Associates--
Investments27,775,264,62521,255,552,938
Loans1,983,318,1851,627,236,021
Reinsurance Assets5,107,6336,161,453
Current Tax Assets730,551,256605,562,033
Insurance Receivables-216,208,438
Other Assets40,101,730537,555,037
Other Financial Assets258,305,457380,036,959
Cash and Cash Equivalent1,082,878,6731,471,215,979
Total Assets32,268,660,67826,573,321,755
Equity:
Share Capital5,014,924,0565,014,924,056
Share Application Money Pending Allotment--
Share Premium--
Catastrophe Reserves185,925,003147,896,621
Retained Earnings359,883,814532,770,188
Other Equity86,898,88678,294,812
Total Equity5,647,631,7585,773,885,677
Liabilities:
Provisions38,291,00938,291,009
Gross Insurance Contract Liabilities25,555,987,85919,628,671,251
Deferred Tax Liabilities--
Insurance Payables20,024,22257,603
Current Tax Liabilities--
Borrowings--
Other Liabilities543,556,140678,615,896
Other Financial Liabilities463,169,689453,800,319
Total Liabilities26,621,028,92020,799,436,078
Total Equity and Liabilities32,268,660,67826,573,321,755

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Fig in NPR.

Particulars Current Year This Quarter Current Year Up to this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Up to this Quarter (YTD)

Income:
Gross Earned Premiums2,594,364,2568,090,603,9082,206,854,0177,005,368,371
Premiums Ceded(57,905,863)(236,535,359)(97,847,069)(244,723,555)
Net Earned Premiums2,536,458,3937,854,068,5492,109,006,9486,760,644,816
Commission Income----
Other Direct Income6,656,74923,578,8994,776,63017,433,736
Interest Income on Loan to Policyholders29,272,916115,535,54426,918,416121,895,663
Income from Investments and Loans370,105,2941,506,501,927389,126,0711,576,851,807

Note:Detailed interim report has been published in company website.

* The figures has been restated/regrouped as per the requirement

* Foreign Employment premium may subject to change based on allocation from Foreign Employment Pool Manager.

Disclosure as per Section 84(3) of Insurance Act, 2079

  1. Solvency Ratio related disclosure: The compay has maintained solvency ratio of 1.57 ( Regulatory requirement:1.3) as per its latest approved Actuarial Valuation Report of FY 2081.82.
  2. Reinsurance related disclosure: The company has entered into reinsurance agreement with Domestic Reinsurers as per the NIA Directive to minimize its overall risks which is adequate based on companies risk exposure.
  3. Details regarding legal proceeding: There are no legal proceedings against the company arising from activities other than those from normal business operations.
  4. Corporate Governance: The company has complied with the Corporate governance Directive issued by Nepal Insurance Authority.
  5. Regulatory limit on expenses ratio: The expenses of company is below the expense ratio as stipulated by Nepal Insurance Authority.

6. The company had started Joint Operation as merged company from 2079/12/09. The company has complied with all the applicable laws ,directives and circulars issued by regulatory authorities.

धितोपत्र दर्ता तथा निष्काशन नियमावली२०७३२६(१)
१. वित्तीय विवरण :
(क) त्रैमासिक अवधिको वासलात, नाफा नोक्सान सम्बन्धी विवरण : यस कम्पनीको आ.व. २०८२/८३ को चौथो त्रैमासिकको वासलात, नाफा नोक्सान सम्बन्धी वित्तीय विवरण यसैसाथ प्रकाशित गरिएको छ । कम्पनीले आ.व. २०८२/८३ को चौथो त्रैमासमा रु.३८.३८१.७
कम्पनीले आ.व. २०८२/८३ को चौथो त्रैमास सम्ममा रु.१५७२७.७८२१.२६३०.६

(ख) सम्बन्धित पक्ष (Related Party) बीच भएको कारोबार सम्बन्धी विवरण : समीक्षा अवधिमा प्रचलित नियम कानूनको अधिनमा रही संचालकसंग सम्बन्धित संस्थामा कार्यरत कर्मचारी तथा संचालकसंग सम्बन्धित व्यक्तिको बीमा सम्बन्धी कारोबारको विवरण निम्नअनुसार छ : सो नभएको ।

(ग) प्रमुख वित्तीय अनुपातहरू :

बीमाकीय मूल्याङ्कन पश्चात प्राप्त हुने मुनाफा जोड्दा वित्तीय अनुपातहरू फरक पर्न सक्छ ।

प्रति शेयर आम्दानी (वार्षिकरण)* मूल्य आम्दानी अनुपात प्रति शेयर नेटवर्थ प्रति शेयर कुल सम्पत्तिको मूल्य

रु. ७.६५ ४९.४९ ११२.६२ ६४३.४५

* प्रति शेयर आम्दानी गणना गर्दा अन्तिम शेयर संख्या लिइएको छ ।

Net Realised Gains/(Losses)33,330,415103,264,63238,148,219211,724,766
Other Income(215,524)222,718204,1983,101,880
Total Income2,975,608,2429,603,172,2692,568,180,4828,691,652,668
Expenses:
Gross Benefits and Claims Paid411,330,9281,570,563,268474,301,5411,771,177,255
Claims Ceded(70,056,086)(251,243,460)(101,733,775)(362,703,383)
Gross Change in Contract Liabilities1,864,883,7905,897,120,6371,463,321,3825,130,810,613
Change in Contract Liabilities Ceded to Reinsurers10,669,7811,053,8199,615,9623,489,076
Net Benefits and Claims Paid2,216,828,4147,217,494,2641,845,505,1096,542,773,561
Commission Expenses279,585,905820,648,818249,849,384718,678,721
Service Fees19,023,52958,905,60516,186,78751,074,071
Other Direct expenses2,171,6342,171,634--
Employee Benefits Expenses124,667,878494,961,89299,493,506441,706,131
Depreciation and Amortization Expenses18,767,03378,794,28222,352,06388,314,776
Impairment Losses--(1,478,268)(1,478,268)
Other Operating Expenses261,064,988514,146,862287,597,510443,874,177
Finance Cost11,687,65735,765,09711,068,15233,546,852
Total Expenses2,933,797,0389,222,888,4532,530,574,2438,318,490,021
Net Profit/(Loss) For The Year Before Share of Net Profits of Associates Accounted for Using Equity Method and Tax41,811,204380,283,81537,606,238373,162,648
Share of Net Profit of Associates accounted using Equity Method----
Profit Before Tax41,811,204380,283,81537,606,238373,162,648
Income Tax Expenses(1,195,234)(3,581,200)(2,229,881)(4,331,010)
Net Profit/(Loss) For The Year43,006,438383,865,01539,836,120377,493,658
Earning Per Share
Basic EPS3.437.653.187.53
Diluted EPS3.437.653.187.53

CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME Fig in NPR.

Particulars Current Year This Quarter Current Year Upto this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Upto this Quarter (YTD)
Net Profit/(Loss) For The Year43,006,438383,865,01539,836,120377,493,658
Other Comprehensive Income65,952,62433,551,08034,393,573(19,899,197)
Total Comprehensive Income108,959,063417,416,09474,229,693357,594,461

OTHER INDICATORS

ParticularsCurrent Year Upto this Quarter (YTD)Previous Year Upto this Quarter (YTD)
1. Total inforce Policy count529,212664,629
2. No. of Policies Issued During the Year282,884491,348
3. First Year Premium (Including Single Premium)2,446,162,0032,122,113,868
4. Single Premium747,338,038422,097,340
5. Renewal Premium5,644,441,9054,883,254,503
6. Total Benefits and Claims Paid in Count12,28114,365
7. Outstanding Benefits and Claims in Count5,6665,607
8. Gross Claim Outstanding Amount435,977,116416,430,466

9. Declared Bonus rate (FY 2080/81) Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand

10. Interim bonus rate Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand

11. Long Term Investments (Amount)14,819,886,08512,679,820,566
12. Short Term Investments (Amount)12,707,601,4568,388,916,634
13. Policyholders Loan1,926,709,8341,562,285,088
14. Investment in Cost Value27,527,487,54121,068,737,200
15. Life Insurance Fund (Amount)25,120,010,74319,298,110,641
16. Unearned premium reserves for term policies (Amount)182,020,595422,686,030

17. Solvency Margin Ratio (FY 2080.81) 1.57 1.46

२. व्यवस्थापकीय विश्लेषण :

(क) कम्पनीको आ.व. २०८०/८१ को चौथो त्रैमासिकसम्म अवधिमा कुल बीमाशुल्क रू. ८ अर्ब ९ करोड रहेको छ जुन गत आ.व. को सोही अवधिमा प्राप्त कुल बीमा शुल्क रु. ७ अर्ब तुलनामा १५ प्रतिशतले वृद्धि हो। त्यसैगरी संकलित प्रिमियम तथा जगेडा कोषहरूमा रहेको रकमलाई दीर्घकालीन / अल्पकालीन मुद्रा बजारका उपकरणहरूमा लगानी गरी व्याज आर्जन गर्न सफल भएको छ।

(ख) बीमा शिक्षा, बीमा सचेतना, बीमा विस्तार लगायतका काममा अग्रसर रही बजारको माग अनुरूप नयाँ बीमा योजनाहरू प्रस्तुत गरी समग्रमा बीमितहरूको हितलाई केन्द्रविन्दुमा राखी बीमा बजार विस्तार गर्दै सेवाग्राहीहरूलाई व्यावसायिक बीमा सेवा उपलब्ध गराउने कार्य जारी छ।

३. कानूनी कारवाही सम्बन्धी विवरण : सो नभएको ।

४. संगठित संस्थाको शेयर कारोबार सम्बन्धी विश्लेषण :

(क) शेयरको मूल्य बजारमा हुने कारोबारले निर्धारण गर्दछ।

(ख) त्रैमासिक अवधिको शेयर कारोबारको विवरण :

अधिकतम मूल्य न्यूनतम मूल्य अन्तिम मूल्य कारोबार संख्या कारोबार दिन

रु. ४१० रु. ३६७ रु. ३७८.८ ११,९७,०८९ कित्ता ६४

५. समस्या तथा चुनौती : जीवन बीमाक्षेत्रका मुख्य समस्या तथा चुनौतीहरू निम्नानुसार रहेका छन् :

• नेपालका सम्पूर्ण भूभागमा जीवन बीमा सम्बन्धी सचेतना फैलाउने कार्य भइरहेको भएतापनि देशको विकटतम भौगोलिक स्थितिका कारण धेरै स्थानमा जीवन बीमा सम्बन्धी सचेतना कार्यक्रम, बीमा शिक्षाका कार्यक्रमहरू नियमित रुपले सञ्चालन गर्न अनुकूल नभएको कारण अझ पनि जनमानसमा जीवन बीमा बारे जनचेतनाको कमी रहनु ।

• सीमित लगानीका क्षेत्रहरू ।

• अधिक तरलता र आर्थिक मन्दीले अर्थतन्त्रमा पारेको प्रतिकूल असरहरू ।

• नयाँ योजनाहरू जारी गर्न अनुसन्धान तथा विकासको लागि पर्याप्त र अद्यावधिक तथ्याङ्कको अभाव ।

• जीवन बीमा व्यवसायमा व्यावसायिक अवधारणाको विकास द्रुत गतिमा हुन नसकेको ।

६. संस्थागत सुशासन :

विद्यमान ऐन कानून तथा नियमन निकायबाट जारी गरिएका निर्देशनको पालना गर्नुका साथै कम्पनीको सञ्चालक समितिले समय समयमा निर्णय गरी लागू गरे का विभिन्न नीति नियमहरू बमोजिम व्यावसायिक सुशासन तथा पारदर्शिताका आधारमा आफ्नो कार्यसम्पादन गरिएकोछ । साथै कम्पनीका सञ्चालक एवं व्यवस्थापन तहका पदाधिकारीहरू रहने गरी लेखापरीक्षण समिति, आर्थिक समिति, लगानी समिति, मानव संसाधन समिति, जोखिम व्यवस्थापन समिति, दावी भुक्तानी समिति, वित्तीय सल्भेन्सी र पुनर्बीमा समिति, कर्मचारी सम्बन्धी समिति र आवश्यकता अनुसार सञ्चालक र व्यवस्थापनका पदाधिकारीहरूको संलग्नतामा समेत विभिन्न समिति / उपसमितिहरू मार्फत सामूहिक रूपमा निर्णयहरू गरी जोखिमलाई कम गर्ने, उच्चस्तरीय तथा आधुनिक सूचना प्रविधिको उपयोग गरी स्वतन्त्र रूपमा नियमित आन्तरिक लेखापरीक्षण गरी आन्तरिक नियन्त्रण प्रणालीलाई चुस्त बनाई संस्थागत सुशासनको पालना उच्च रूपमा गरिएकोछ।

७. सत्य, तथ्यता सम्बन्धमा कार्यकारी प्रमुखको उद्घोषण :

आजका मितिसम्म यस प्रतिवेदनमा उल्लेखित जानकारी तथा विवरणहरूको शुद्धता सम्बन्धमा म व्यक्तिगत रुपमा उत्तरदायित्व लिन्छु । साथै म यो उद्घोषण गर्दछु कि मैले जाने बुझेसम्म यस प्रतिवेदनमा उल्लेखित विवरणहरू सत्य, तथ्य र पूर्ण छन् र लगानीकर्ताहरूलाई सुसूचित निर्णय लिन आवश्यक कुनै विवरण, सूचना तथा जानकारीहरू लुकाइएको छैन ।

SANIMA RELIANCE LIFE INSURANCE LIMITED

Quarterly Financial Results for Fourth Quarter, F.Y. 2082/83

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Fig in NPR.

Particulars Unaudited At the end of this Quarter Audited At the end ofImmediatePrevious Year
Goodwill & Intangible Assets36,834,75836,639,039
Property and Equipment348,468,231421,721,235
Investment Properties--
Deferred Tax Assets7,830,13015,432,624
Investment in Subsidiaries--
Investment in Associates--
Investments27,775,264,62521,255,552,938
Loans1,983,318,1851,627,236,021
Reinsurance Assets5,107,6336,161,453
Current Tax Assets730,551,256605,562,033
Insurance Receivables-216,208,438
Other Assets40,101,730537,555,037
Other Financial Assets258,305,457380,036,959
Cash and Cash Equivalent1,082,878,6731,471,215,979
Total Assets32,268,660,67826,573,321,755
Equity:
Share Capital5,014,924,0565,014,924,056
Share Application Money Pending Allotment--
Share Premium--
Catastrophe Reserves185,925,003147,896,621
Retained Earnings359,883,814532,770,188
Other Equity86,898,88678,294,812
Total Equity5,647,631,7585,773,885,677
Liabilities:
Provisions38,291,00938,291,009
Gross Insurance Contract Liabilities25,555,987,85919,628,671,251
Deferred Tax Liabilities--
Insurance Payables20,024,22257,603
Current Tax Liabilities--
Borrowings--
Other Liabilities543,556,140678,615,896
Other Financial Liabilities463,169,689453,800,319
Total Liabilities26,621,028,92020,799,436,078
Total Equity and Liabilities32,268,660,67826,573,321,755

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Fig in NPR.

Particulars Current Year This Quarter Current Year Up to this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Up to this Quarter (YTD)

Income:
Gross Earned Premiums2,594,364,2568,090,603,9082,206,854,0177,005,368,371
Premiums Ceded(57,905,863)(236,535,359)(97,847,069)(244,723,555)
Net Earned Premiums2,536,458,3937,854,068,5492,109,006,9486,760,644,816
Commission Income----
Other Direct Income6,656,74923,578,8994,776,63017,433,736
Interest Income on Loan to Policyholders29,272,916115,535,54426,918,416121,895,663
Income from Investments and Loans370,105,2941,506,501,927389,126,0711,576,851,807

Note:Detailed interim report has been published in company website.

* The figures has been restated/regrouped as per the requirement

* Foreign Employment premium may subject to change based on allocation from Foreign Employment Pool Manager.

Disclosure as per Section 84(3) of Insurance Act, 2079

  1. Solvency Ratio related disclosure: The compay has maintained solvency ratio of 1.57 ( Regulatory requirement:1.3) as per its latest approved Actuarial Valuation Report of FY 2081.82.
  2. Reinsurance related disclosure: The company has entered into reinsurance agreement with Domestic Reinsurers as per the NIA Directive to minimize its overall risks which is adequate based on companies risk exposure.
  3. Details regarding legal proceeding: There are no legal proceedings against the company arising from activities other than those from normal business operations.
  4. Corporate Governance: The company has complied with the Corporate governance Directive issued by Nepal Insurance Authority.
  5. Regulatory limit on expenses ratio: The expenses of company is below the expense ratio as stipulated by Nepal Insurance Authority.

6. The company had started Joint Operation as merged company from 2079/12/09. The company has complied with all the applicable laws ,directives and circulars issued by regulatory authorities.

For the purpose of Sub-rule(1)262073
1. Financial Statements:
(a) Balance Sheet and Profit and Loss Details of the Quarterly Period: The financial statements related to the balance sheet and profit & loss of the fourth quarter of FY 2082/83 of this company are published herewith. The company has succeeded in earning a net profit of Rs.38.381.7
The company has settled total claim payments of Rs.15727.7830.621.26

(b) Details regarding Related Party Transactions: Under the prevailing laws and regulations during the review period, details regarding insurance-related transactions of directors with affiliated entities and employees/persons related to directors are as follows: None.

(c) Major Financial Ratios:

Financial ratios may vary after adding profit obtained from actuarial valuation.

Earnings Per Share (Annualized)* Price Earnings Ratio Net Worth Per Share Total Assets Value Per Share

Rs. 7.65 49.49 112.62 643.45

* The closing number of shares has been taken for calculating Earnings Per Share.

Net Realised Gains/(Losses)33,330,415103,264,63238,148,219211,724,766
Other Income(215,524)222,718204,1983,101,880
Total Income2,975,608,2429,603,172,2692,568,180,4828,691,652,668
Expenses:
Gross Benefits and Claims Paid411,330,9281,570,563,268474,301,5411,771,177,255
Claims Ceded(70,056,086)(251,243,460)(101,733,775)(362,703,383)
Gross Change in Contract Liabilities1,864,883,7905,897,120,6371,463,321,3825,130,810,613
Change in Contract Liabilities Ceded to Reinsurers10,669,7811,053,8199,615,9623,489,076
Net Benefits and Claims Paid2,216,828,4147,217,494,2641,845,505,1096,542,773,561
Commission Expenses279,585,905820,648,818249,849,384718,678,721
Service Fees19,023,52958,905,60516,186,78751,074,071
Other Direct expenses2,171,6342,171,634--
Employee Benefits Expenses124,667,878494,961,89299,493,506441,706,131
Depreciation and Amortization Expenses18,767,03378,794,28222,352,06388,314,776
Impairment Losses--(1,478,268)(1,478,268)
Other Operating Expenses261,064,988514,146,862287,597,510443,874,177
Finance Cost11,687,65735,765,09711,068,15233,546,852
Total Expenses2,933,797,0389,222,888,4532,530,574,2438,318,490,021
Net Profit/(Loss) For The Year Before Share of Net Profits of Associates Accounted for Using Equity Method and Tax41,811,204380,283,81537,606,238373,162,648
Share of Net Profit of Associates accounted using Equity Method----
Profit Before Tax41,811,204380,283,81537,606,238373,162,648
Income Tax Expenses(1,195,234)(3,581,200)(2,229,881)(4,331,010)
Net Profit/(Loss) For The Year43,006,438383,865,01539,836,120377,493,658
Earning Per Share
Basic EPS3.437.653.187.53
Diluted EPS3.437.653.187.53

CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME Fig in NPR.

Particulars Current Year This Quarter Current Year Upto this Quarter (YTD) Corresponding Previous Year This Quarter Corresponding Previous Year Upto this Quarter (YTD)
Net Profit/(Loss) For The Year43,006,438383,865,01539,836,120377,493,658
Other Comprehensive Income65,952,62433,551,08034,393,573(19,899,197)
Total Comprehensive Income108,959,063417,416,09474,229,693357,594,461

OTHER INDICATORS

ParticularsCurrent Year Upto this Quarter (YTD)Previous Year Upto this Quarter (YTD)
1. Total inforce Policy count529,212664,629
2. No. of Policies Issued During the Year282,884491,348
3. First Year Premium (Including Single Premium)2,446,162,0032,122,113,868
4. Single Premium747,338,038422,097,340
5. Renewal Premium5,644,441,9054,883,254,503
6. Total Benefits and Claims Paid in Count12,28114,365
7. Outstanding Benefits and Claims in Count5,6665,607
8. Gross Claim Outstanding Amount435,977,116416,430,466

9. Declared Bonus rate (FY 2080/81) Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand

10. Interim bonus rate Rs. 19-75 Per Thousand Rs. 19-75 Per Thousand

11. Long Term Investments (Amount)14,819,886,08512,679,820,566
12. Short Term Investments (Amount)12,707,601,4568,388,916,634
13. Policyholders Loan1,926,709,8341,562,285,088
14. Investment in Cost Value27,527,487,54121,068,737,200
15. Life Insurance Fund (Amount)25,120,010,74319,298,110,641
16. Unearned premium reserves for term policies (Amount)182,020,595422,686,030

17. Solvency Margin Ratio (FY 2080.81) 1.57 1.46

2. Management Analysis:

(a) Up to the fourth quarter of F.Y. 2080/81, total insurance premium stands at Rs. 8 Arba 9 Crore, which is an increase of 15 percent compared to total insurance premium of Rs. 7 Arba received in the corresponding period of last F.Y. Similarly, the company has been successful in earning interest by investing the funds available in collected premium and reserve funds into long-term / short-term money market instruments.

(b) By taking initiative in insurance education, insurance awareness, insurance expansion, etc., presenting new insurance plans according to market demand, keeping the interest of policyholders at the center, expanding the insurance market, the work of providing commercial insurance services to service seekers is ongoing.

3. Details Regarding Legal Actions: None.

4. Analysis Regarding Share Trading of the Corporate Body:

(a) Share prices are determined by trading in the market.

(b) Details of share trading for the quarterly period:

Maximum Price Minimum Price Closing Price Trading Volume Trading Days

Rs. 410 Rs. 367 Rs. 378.8 11,97,089 units 64

5. Problems and Challenges: The main problems and challenges of the life insurance sector are as follows:

• Although awareness regarding life insurance is being spread across all regions of Nepal, due to the remote geographical conditions of the country, life insurance awareness programs and insurance education programs cannot be conducted regularly in many places, resulting in a persistent lack of public awareness regarding life insurance.

• Limited investment areas.

• Adverse effects on the economy caused by excessive liquidity and economic slowdown.

• Lack of sufficient and updated data for research and development to launch new schemes.

• The development of commercial concepts in life insurance business has not progressed at a rapid pace.

6. Corporate Governance:

In addition to complying with instructions issued by prevailing laws and regulatory bodies, performance is carried out on the basis of corporate governance and transparency according to various policies and rules framed and implemented from time to time by the company's Board of Directors. Furthermore, through various committees / sub-committees comprising directors and executive level officers such as Audit Committee, Financial Committee, Investment Committee, Human Resource Committee, Risk Management Committee, Claim Settlement Committee, Financial Solvency and Reinsurance Committee, Employee-related Committee, and involving directors and management officers as necessary, decisions are made collectively to mitigate risks. By utilizing high-level and modern information technology, independent regular internal audits are conducted, maintaining a robust internal control system, thereby ensuring a high standard of compliance with corporate governance.

7. Executive Chief's Declaration Regarding Truth and Correctness:

As of today, I personally take responsibility for the correctness of the information and details mentioned in this report. I also declare that to the best of my knowledge and belief, the details mentioned in this report are true, factual, and complete, and no details, notices, or information necessary for investors to make informed decisions have been concealed.

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