Kathmandu. Last fiscal year 2082. Insurance companies have paid claims of more than Rs 100 billion in 83 years.
According to the Insurance Reflection released by the Nepal Insurance Authority, insurance companies have paid a total of Rs 101.36 billion in claims in the last fiscal year. Previous fiscal year 2081. Insurance companies had paid claims of Rs 91.06 billion in 2018-19. Compared to the previous year, the insurance claim payment has increased by 11.30 percent.
In the last fiscal year, the life insurance companies paid Rs 69.64 billion. This payment is 4,19,136 claims.
In the previous fiscal year, life insurers had paid Rs 65.80 billion for 3,91,135 claims. In the review year, the number of claim payments of life insurers increased by 7.16 percent and the amount by 5.83 percent.
Similarly, in the last fiscal year, the non-life insurers paid Rs 31.71 billion for 164,101 claims. In the previous year, the non-life insurers had paid Rs 25.25 billion for 150,639 claims. The number of claims and amount of non-life insurers has increased by 8.94 percent and 25.57 percent respectively compared to the previous year.
The claim payment amount of non-life insurers has increased due to the huge loss caused by the Jenji agitation in August and the floods and landslides of September.
According to the data of the last fiscal year, life and non-life insurers are yet to pay claims of Rs 52.08 billion. Out of this, life insurers have filed 1,44,144 claims and non-life insurers have filed 1,06,237 claims of Rs 41.03 billion.
