Kathmandu. Current fiscal year 2082. Insurance companies have paid claims of about Rs 41 billion in the first seven months of 2018-19.
According to the Insurance Reflection made public by the Nepal Insurance Authority, insurance companies have paid a total of Rs 40.70 billion claims till mid-January of the current fiscal year. Out of which Rs 24.88 billion has been paid by life insurance companies. This payment is for 1,23,092 claims.
In the previous year, life insurers had paid Rs 24.59 billion for 124,710 claims. In the review period compared to the previous year, the claim payment amount of life insurers decreased by 1.31 percent while the claim payment amount increased by 1.21 percent.
Similarly, the non-life insurers have paid Rs 15.82 billion to 83,819 claims till mid-February of the current fiscal year. In the same period of the previous year, the non-life insurers had paid Rs 11.95 billion for 76,937 claims. The number and amount of claims of non-life insurers increased by 8.94 percent and 32.30 percent respectively in the review period 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.
Still Rs. Claim payment of 56.35 billion is due{
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According to the data till mid-January of the current fiscal year, life and non-life insurers are yet to pay claims of Rs 55.60 billion. Out of this, life insurers have collected Rs 5.45 billion for 60,451 claims and non-life insurers have claimed Rs 50.14 billion for claims of Rs 116,4218.
