Kathmandu. Last fiscal year 2081. More than Rs 91 billion has been paid from life and non-life insurance companies.
According to the insurance report published by the Nepal Insurance Authority, a total of Rs 91.06 billion has been paid from 14 life insurance companies, three micro-life insurance, 14 non-life insurance companies and four small non-life insurance companies in the review year. In the previous fiscal year, claims worth Rs 65.99 billion were paid by the insurers. The amount of claim payment has increased by 38 percent in the review period compared to the previous year.
According to nea’s statistics, the claim payment amount of both life and non-life insurers has increased in the review year compared to the previous year. According to the data, life insurers have paid Rs 65.80 billion to the insured in the review year. This amount has been paid by the companies to 391,135 claims.
In the previous fiscal year, life insurers had paid Rs 48.04 billion for 274,366 claims. Compared to the previous year, the number of claim payments of life insurers increased by 42.56 percent and the amount by 36.98 percent in the review year.
In the last fiscal year, life insurers are yet to pay Rs 7.48 billion for 88,981 claims. In the previous year, life insurers were yet to pay Rs 7.87 billion for 93,797 claims. Compared to the previous year, the number of claims and amount pending for life insurers decreased by 5.13 percent and 4.94 percent respectively in the review year.
Similarly, in the last fiscal year, non-life insurers paid Rs 25.25 billion to the insured. This amount has been paid by the companies to 150,639 claims.
In the previous fiscal year, non-life insurers had paid Rs 17.95 billion for 153,090 claims. Compared to the previous year, the number of non-life insurers’ claim payments decreased by 1.60 percent, while the payment amount increased by 40.72 percent.
In the review year, non-life insurers are yet to pay Rs 25.07 billion for 96,381 claims. Last year, non-life insurers had to pay Rs 19.20 billion for 77,611 claims. Compared to the previous year, the number and amount of claims pending for non-life insurers increased by 24.18 percent and 30.59 percent respectively during the review period.
