Print Edition - 2015-06-15 | MONEY
Sagarmatha gets highest quake-related claims
Jun 14, 2015-
Sagarmatha Insurance has received the highest insurance claims related to the earthquake. So far, the non-life insurer has received 2,234 claims worth Rs1.29 billion, according to the Insurance Board (IB).
Of the total claims, it settled only 113 worth Rs12.91 million (1 percent of the claims amount), while 13 claims were invalid.
Shikhar Insurance is in the second position, with 1,344 claims worth Rs1.27 billion. It is followed by Premier Insurance. Everest Insurance received claims worth Rs 270.2 million, the least.
Total earthquake-related claims received by insurers, including life and non-life insurers, stand at Rs 14.54 billion. Of them, only claims worth Rs348.81 million have so far been settled.
The non-life insurers have received claims worth Rs13.86 billion, out of which only Rs286.6 million has been settled.
The IB’s record shows fire insurance also includes house insurance, almost all earthquake damage related claims have come from those who had got insurance coverage under fire insurance. Claims for house insurance stand at Rs12.80 billion.
It means the share of engineering and vehicle insurance claims is worth Rs 766.5 million and Rs 198.9 million, respectively.
Similarly, out of life-insurers’ Rs71.69 million claims, they have so far settled the claims worth Rs62.21 million. Of the nine life-insurers, Nepal Life Insurance is the top receiver of the claims (35 claims worth Rs20.1 million). Met Life received insurance claims 123 claims worth Rs19.4 million.
claims received by Non-life insurers
Companies No of claims Amount
Sagarmatha Insurance 2,234 Rs 1,297 m
Shikhar Insurance 1,344 Rs 1,278 m
Premier Insurance (Nepal) 719 Rs 1,225 m
Siddhartha Insurance 1,464 Rs 1,209 m
Himalayan General Insurance 491 Rs 1,098 m
Nepal Insurance 1,342 Rs 1,050 m
Prabhu Insurance 918 Rs 1,038 m
Neco Insurance 1,290 Rs 959.7 m
Prudential Insurance 902 Rs 859.5 m
NLG Insurance 1,076 Rs 743.6 m
National Insurance 644 Rs 688 m
The Oriental Insurance 352 Rs 650 m
Rastriya Beema Company 189 Rs 606 m
United Insurance (Nepal) 575 Rs 493.8 m
Lumbini General Insurance 775 Rs 370 m
Everest Insurance 143 Rs 270.2 m
Published: 15-06-2015 08:52