Kathmandu. Current fiscal year 2081. Around Rs 73 billion has been paid from life and non-life insurance companies till May 11.
A total of Rs 72.94 billion has been claimed from 14 life insurance companies, three micro-life insurance, 14 non-life insurance companies and four micro-life insurance companies in the 11 months of the current fiscal year. In the same period last year, claims worth Rs 69.97 billion were paid by the insurers. Compared to the previous year, the amount of claim payment has increased by only 4.23 percent.
According to nea’s statistics, the claim payment amount of life insurers has decreased compared to the previous year while the amount of non-life insurers has increased. It seems that the claim payment of non-life insurers may have increased due to the damage caused by floods and landslides across the country in September last year.
According to the data, life insurers have paid Rs 52.64 billion to the insured till May of the current fiscal year. This amount has been paid by the companies to 2,38,608 claims.
Till May last year, life insurers had paid Rs 53.96 billion for 268,677 claims. Compared to the previous year, the number of claim payments of life insurers decreased by 11.19 percent and the amount decreased by 2.45 percent in the review period.
According to nea data, life insurers are yet to pay Rs 4.57 billion for 54,422 claims till May of the current fiscal year. As of May last year, life insurers were yet to pay Rs 2.86 billion for 39,2987 claims. Compared to the previous year, the number of claims and amount pending to be paid to life insurers increased by 38.49 percent and 59.61 percent, respectively.
Similarly, according to the insurance report, the non-life insurers have paid rs 20.30 billion to the insured till May of the current fiscal year. This amount has been paid by the companies to 1,27,282 claims.
Till May last year, non-life insurers had paid Rs 16.17 billion for 134,534 claims. During the review period, the number of non-life insurers’ claim payments decreased by 5.39 percent compared to the previous year, but the payment amount increased by 26.74 percent.
According to the NRA data, non-life insurers are yet to pay Rs 30.46 billion for 106,757 claims till May of the current fiscal year. As of May last year, non-life insurers were yet to pay Rs 20.25 billion for 102,251 claims. Compared to the previous year, the number and amount of claims pending for non-life insurers increased by 4.41 percent and 50.38 percent respectively during the review period.
