Insurers settle payments of Rs. 4.38 billion

Kathmandu, Dec. 10

In connection with the physical and other damages caused during the recent Gen-Z movement, non-life insurance companies have so far paid out approximately Rs. 4.384 billion including advance payments out of the total claimed amount of around Rs. 23.44 billion from 3,300 insurance claims.

According to updated data submitted to the Nepal Insurance Authority (NIA) by 14 non-life insurance companies and four micro non-life insurance companies, of the total amount paid, including advances, property insurance accounts for Rs. 3.122 billion paid against claims worth around Rs. 19.01 billion from 710 claims.

Likewise, in the motor insurance category, around Rs. 1.09 billion has been paid against claims worth approximately Rs. 3.48 billion from 2,308 claims, the NIA informed in a statement on Tuesday.

Similarly, in engineering and contractor’s risk insurance, Rs. 68.1 million has been paid against claims worth around Rs. 555.5 million from 225 claims.

In transport insurance, Rs. 6.6 million has been paid against claims worth around Rs. 16.9 million from 12 claims. Under other insurance categories, Rs. 4.9 million has been paid against claims worth around Rs. 384 million from 45 claims.

To support the settlement of claims arising from the damages caused during the Gen Z movement, Nepal Reinsurance Company has provided reinsurance claim payments of around Rs. 2.56 billion to non-life insurance companies.

Updated statistics from Nepal Reinsurance Company show that the total claimed amount from 2,861 reinsurance claims filed by 14 different non-life insurance companies stands at approximately Rs. 15.81 billion.

Meanwhile, non-life insurance companies have begun settling claims arising from the continuous rainfall, floods and landslides that affected the country early October this year.

The NIA informed that insurers have received a total of 781 preliminary insurance claims amounting to approximately Rs. 4.04 billion. Of these, 67 claims worth around Rs. 18.8 million have been paid to policyholders so far.

Updated figures submitted by 13 non-life insurance companies and two micro non-life insurers show that property insurance has seen the highest number of claims. Out of 410 property-related claims amounting to approximately Rs. 3.45 billion, insurers have settled 20 claims worth around Rs 8.3 million.

Insurers have stated that assessments and verification of damages are ongoing, and more claim settlements are expected in the coming days as field reports continue to arrive.

Published in The Rising Nepal daily on 11 December 2025.