Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal Reinsurance Company has initiated payment to non-life insurance companies covering property damages caused during the GenZ movement incidents across the country. The company confirmed that more than Rs 1.5 billion has already been disbursed as advance payments to insurers.
According to the company, it began distributing claim payments from Friday, prioritizing firms with large claims. So far, major non-life insurers including Siddhartha Premier Insurance, IGI Prudential Insurance, Himalayan Everest Insurance, Shikhar Insurance, and Sagarmatha Lumbini Insurance (SALICO) have received advance settlements.
A senior company source informed that the first phase of payments has been completed for high-claim companies, while the second phase — covering smaller claims — is now underway. “We have already settled the major claims and have started processing smaller ones. All companies will receive their advance payments by Tihar,’’ the source stated.
According to the Insurance Board (Nepal Beema Pradhikaran), as of October 8, 2025 (Ashoj 22, 2082 BS), total insurance claims related to the GenZ movement damages have reached Rs 23.22 billion, involving 3,099 claims filed across 14 non-life and 4 micro non-life insurance companies.
Nepal Reinsurance Company, the country’s only reinsurance entity, has been coordinating with the Insurance Board and the Ministry of Finance to ensure liquidity for timely reimbursement. The company is reportedly preparing to disburse up to Rs 4 billion in total settlements before the Tihar festival.
“The arrangement of funds up to Rs 4 billion has been completed. Once surveyor reports are finalized, we will proceed with the remaining settlements without delay,” the source added.
The rapid initiation of payments is expected to bring significant relief to the insurance sector, which had been under financial strain due to the surge in claims following widespread property destruction during the movement.
Industry experts say the prompt response from Nepal Reinsurance reflects improving resilience and coordination in Nepal’s insurance ecosystem, crucial for restoring investor confidence and stabilizing the non-life insurance market.
This development also underscores Nepal’s growing capacity in risk management, insurance recovery, and financial resilience, aligning with international best practices in the reinsurance and financial services sectors — key components for enhancing foreign direct investment (FDI) confidence and sustainable economic recovery.
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