Insurance Claims from Gen-Z Movement Reach Rs 23.23 Billion

Kathmandu – The total insurance claims filed following the Gen-Z movement, which began on Bhadra 23 (September 8), have reached Rs 23.23 billion, according to the latest data released by the Nepal Insurance Authority. As of Kartik 9 (October 26), a total of 3,187 insurance claims has been registered across various non-life insurance companies.

Out of the total claims, non-life insurance companies have already paid Rs 2.79 billion, which includes both full and advance payments, the authority said.

Siddhartha Premier Insurance has received the highest volume of claims, amounting to Rs 5.49 billion from 397 claims nationwide. The company has already disbursed Rs 1.28 billion to the insured.

The Oriental Insurance ranks second, having received Rs 5.24 billion in claims from 99 cases across the country. However, it has so far paid only Rs 16.6 million in compensation.

In third place, IGI Prudential Insurance has received initial claims worth Rs 2.79 billion from 215 policyholders, of which Rs 31.41 million has been paid to date.

Similarly, Shikhar Insurance has reported claims totaling Rs 2.41 billion from 435 cases, and has settled Rs 583.2 million so far. Other insurers that have made payments include Himalayan Everest Insurance (Rs 256 million), Neco Insurance (Rs 98 million), Sagarmatha Lumbini Insurance (Rs 72.4 million), and Sanima GIC Insurance (Rs 71.4 million).

Meanwhile, United Ajod Insurance has paid Rs 17.8 million, Nepal Insurance Rs 61.1 million, NLG Insurance Rs 21.1 million, and Prabhu Insurance Rs 2.2 million.

The Nepal Insurance Authority has stated that it is closely monitoring the claim settlement process to ensure prompt relief to victims affected by the Gen-G movement. The authority has instructed insurance companies to expedite claim verification and settlement to support affected policyholders as quickly as possible.