Non-life Insurance Companies in Nepal Owe Rs 9.40 Billion in Net Insurance Claims

Kathmandu – The net insurance claim payment arrears owed by non-life insurance companies in Nepal to the insured have reached Rs 9.40 billion, according to financial statements published by 14 non-life insurance companies operating in the country. The data covers the period up to the second quarter of the current financial year.

This figure marks a significant increase of 27.53 percent compared to the same period of the previous financial year, when the outstanding claims amounted to Rs 7.37 billion. Among the companies, Sagarmatha Lumbini Insurance has the highest net claim payout amounting to Rs 946.7 million. Siddharth Premier Insurance also saw a notable rise in its net claim payment, reaching Rs 99.75 million, an increase of 12.99 percent compared to the previous year.

Source: According to the data published by all non-life insurance companies

Other insurance companies with significant net claim payments include Himalayan Everest Insurance with Rs 540.7 million, Rastriya Beema Company with Rs 569.1 million, and IGI Prudential Insurance with Rs 595.8 million. United Ajod Insurance has net claim payments of Rs 425.5 million, while Shikhar Insurance reported Rs 409 million.

Additionally, Sanima GIC Insurance has net claim payments of Rs 408.7 million, Nepal Insurance Rs 362.3 million, NLG Insurance Rs 270 million, and Prabhu Insurance Rs 205 million during this period.