Kathmandu. In the last fiscal year, the claim payment of insurance companies has increased and the amount due to the companies has also increased.

According to the Nepal Insurance Authority, the claim payment of life and non-life insurance companies has increased in the same period of the last fiscal year.

The number of claims paid by life insurers till Ashad ended in the last fiscal year 2082/83 stood at 4,19,136. It was 7.16 per cent more than the same period last year. It was 391,135 in the same period of the previous fiscal year.

Likewise, the claim payment by life insurance companies has increased by 5.83 percent in the same period of the last fiscal year. As of mid-July of the previous fiscal year, it stood at Rs 65.80 billion. It had collected Rs 69.64 billion in the same period of the previous FY.

According to the Nepal Insurance Authority, the number of claims paid till the end of the last fiscal year has increased by 7.16 percent and 5.83 percent. The number of unpaid claims has increased by 61.99 percent to 144,144 under life insurance. It was 8,89,081 in the same period of the previous year.

The unpaid claim amount increased by 47.52 per cent to Rs 11.04 billion. In the previous fiscal year, it was Rs 7.48 billion. According to NEA, the number of claim payment of non-life insurance companies has increased by 8.94 percent to 164,101. It had been 150,639 in the same period of the previous fiscal year.

Similarly, the claim payment of non-life insurance companies increased by 25.57 per cent to Rs 31.71 billion. In the same period of the previous year, it had collected Rs. 25.25 billion.

According to NEA, the remaining amount of non-life insurance companies has increased by 10.23 percent to Rs 106,237.

It was 96,381 in the same period of the previous year. The non-life insurance company’s outstanding dues increased by 63.61 percent to Rs 41.03 billion. It was Rs. 25.07 billion in the same period of the previous year.