Kathmandu. Current fiscal year 2082. Insurance companies have paid a total of Rs 34.91 billion in claims till the second quarter of 2018.
According to the Insurance Reflection Released by the Nepal Insurance Authority, insurance companies have paid a total of Rs 34.91 billion claim till mid-January of the current fiscal year. Out of which Rs 21.64 billion has been paid by life insurance companies. This payment is of 1,07,918 claims.
In the previous fiscal year, life insurers had paid Rs 20.97 billion for 105,612 claims. The number of claim payments of life insurers increased by 2.18 percent and the amount by 3.20 percent in the review period compared to the previous year.
Similarly, the non-life insurers have paid Rs 13.27 billion for 71,249 claims till mid-January of the current fiscal year. In the same period of the previous year, the non-life insurers had paid Rs 10.16 billion for 65,120 claims. The number of claims and amount of non-life insurers increased by 9.41 percent and 30.66 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.
Still Rs. Claim payment of Rs. 56.35 billion is due
According to the data of the current fiscal year, life and non-life insurers are yet to pay claims of Rs 56.35 billion. Life insurers have collected Rs 5.55 billion for 61,464 claims and non-life insurers have claimed Rs 50.79 billion for 113,728 claims.
