Non-Life Insurers’ Total Claims Payout Nears Rs 20 Billion; SALICO and Shikhar Record Highest Settlements
Kathmandu – Nepal’s 14 non-life insurance companies paid out more than Rs 19.80 billion in insurance claims by the end of the third quarter of fiscal year 2025/26 (2082/83), marking a 19.91 percent increase compared to the same period of the previous fiscal year.
The claims figures do not include recoveries receivable from reinsurance companies. The increase in claims payments reflects rising obligations across the insurance sector. A significant portion of the growth was driven by losses associated with the September 9–10, 2025 (Bhadra 23–24, 2082) protest movement and flood and landslide incidents triggered by heavy rainfall.
Among all insurers, Sagarmatha Lumbini Insurance (SALICO) recorded the highest claims settlement, paying Rs 3.03 billion during the review period. Shikhar Insurance ranked second with Rs 2.72 billion in claims payments, followed by NLG Insurance, which settled claims worth Rs 2.03 billion.
Other major payouts included Siddhartha Premier Insurance at Rs 1.83 billion, Himalayan Everest Insurance at Rs 1.68 billion, IGI Prudential Insurance at Rs 1.58 billion, and Neco Insurance at Rs 1.33 billion. Meanwhile, The Oriental Insurance paid Rs 1.30 billion, Sanima GIC Insurance settled Rs 1.25 billion, and United Ajod Insurance paid Rs 1.06 billion in claims.
Among the remaining companies, Nepal Insurance recorded claims payments of Rs 944.5 million, National Insurance settled Rs 503.4 million, Prabhu Insurance paid Rs 362.1 million, while the state-owned Rastriya Beema Company recorded claims settlements of Rs 183.5 million.
In terms of growth rate, Sanima GIC Insurance posted the sharpest rise in claims payments, increasing 95.13 percent year-on-year. Nepal Insurance followed with 74.14 percent growth, while The Oriental Insurance recorded an increase of 69.35 percent. However, data show that IGI Prudential Insurance, United Ajod Insurance, and Rastriya Beema Company reported lower claims payouts compared to the previous year.