Kathmandu. The investment of non-life insurers has shrunk as they have to pay a large amount of claim for damage to insured property and vehicles caused by floods and landslides.
The amount of claim payment increased by 39.63 percent, while the investment of the non-life insurer increased in the previous fiscal year 2080. Compared to 81 in the last fiscal year, 2081. It has shrunk by 13.18 percent in 1982.
According to the Nepal Insurance Authority, the non-life insurance company had paid Rs 18.09 billion claim in the last fiscal year. In the last fiscal year, the claim payment had increased to Rs 25.26 billion.
During this period, the shareholders of the non-life insurer invested more amount as paid-up capital, but the size of the investment of the non-life insurer decreased after the claim payment was much more than the additional amount.
The investment of non-life insurers has decreased by 13.18 percent in the last fiscal year compared to the previous financial year. The non-life insurance company had a total investment of Rs 69.74 billion in the last fiscal year. It has also had a negative impact on the returns to shareholders.
Despite the increase in claim payment, the total number of claims under the non-life insurance category decreased by 0.82 percent in the last fiscal year.
Similarly, in the life insurance category, there was an increase of 20.63 percent compared to the last fiscal year. In the last fiscal year, the insured has received Rs 78.98 billion claim payment from life insurance companies. Life insurance has increased by 17.03 percent to Rs 766 million on the back of positive growth in insurance premium, paid-up capital and life insurance fund.
In the last fiscal year, a total of Rs 829.4 billion was invested in the life and non-life insurance sector in the country’s economy.
