Kathmandu. Current fiscal year 2082. Insurance companies have paid more claims of Rs 51.59 billion in the first nine months of the current fiscal year.
According to the Insurance Reflection released by the Insurance Authority of Nepal, insurance companies have paid a total of Rs 51.59 billion in claims till mid-April of the current fiscal year. In the same period of the previous year, insurance companies had paid Rs 62.22 billion. Compared to the previous year, the insurance claim payment decreased by 16.79 percent.
Life insurance companies have paid Rs 31.10 billion till mid-April of the current fiscal year. This payment is for 1,44,306 claims.
In the same period of the previous year, life insurers had paid Rs 45.37 billion for 2,82,810 claims. Compared to the previous year, the number of claim payments of life insurers decreased by 28.14 percent and the amount decreased by 31.45 percent.
Similarly, till mid-April of the current fiscal year, the non-life insurers have paid Rs 20.48 billion for 111,707 claims. In the same period of the previous year, the non-life insurers had paid Rs 16.62 billion for 101,713 claims.
The number of claims and amount of non-life insurers increased by 9.83 percent and 22.24 percent respectively in the review period as 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 till mid-April of the current fiscal year, life and non-life insurers are yet to pay claims worth Rs 52.73 billion. Out of this, life insurers have filed 61,516 claims and non-life insurers have claimed 113,947 claims amounting to Rs 47.16 billion.
