Are Nepal's Insurers Facing Unprecedented Claims Due to Gen-Z Protests?
Click to start listening
Synopsis
The recent Gen-Z protests in Nepal have caused unprecedented property damage, leading to record insurance claims. With damages exceeding NPR 21 billion, this incident marks a troubling chapter in Nepal's history, calling into question the resilience of its insurance sector amidst rising unrest.
Key Takeaways
- The Gen-Z protests have led to unprecedented insurance claims in Nepal.
- Claims have surpassed those from the 2015 earthquake.
- The total claims amount is expected to rise as assessments continue.
- Major businesses have reported damages exceeding NPR 60 billion.
- Oriental Insurance Company Limited has the highest claims reported.
Kathmandu, Sep 19 (NationPress) The recent Gen-Z protests in Nepal have resulted in an unparalleled surge in insurance claims, marking a historic moment for the nation's insurance industry. As of now, claims have soared to nearly NPR 21 billion (NPR1=NPR1.6).
Data from the Nepal Insurance Authority, the governing body for the insurance sector, reveals that by September 16, non-life insurers had received 1,984 claims totaling NPR 20.7 billion, setting a record for the highest damages from a single event.
While evaluations of the damages are ongoing, the total claims are anticipated to climb even further. To put this in perspective, the current claims surpass those from the devastating 2015 earthquake, which saw claims of NPR 16.5 billion. Additionally, during the COVID-19 pandemic, an insurance scheme introduced in 2020 led to claims exceeding NPR 16 billion.
Among the insurers, the Oriental Insurance Company Limited, part of India’s Oriental Insurance, has recorded the highest claim amount to date, totaling NPR 5.14 billion across 40 cases. Notably, a significant portion of these claims stem from the Hilton Kathmandu Hotel, which faced substantial losses during the protests.
Other major players in the claims arena include Siddhartha Premier Insurance, Shikhar Insurance, IGI Prudential Insurance, and Sagarmatha Lumbini and Company, all of which rank among the top five insurers by claim amounts.
According to an official from the Confederation of Nepalese Industries (CNI), some major enterprises have reported damages exceeding NPR 60 billion, as the organization compiles details on property damages within the private sector.
The recent protests have resulted in severe property damage, including the destruction of the Hilton Kathmandu Hotel, several locations of Bhat-Bhateni Supermarket—Nepal's largest retail chain—and significant assets of Ncell, a private telecommunications company.
Point of View
It's essential to recognize the significant implications of the recent Gen-Z protests on the insurance sector. While the damage is alarming, it also underscores the need for improved risk management and proactive measures within the industry to mitigate losses in the future. The Nation stands firmly with the people and businesses affected during this challenging time.
NationPress
20/09/2025
Frequently Asked Questions
What is the total amount of insurance claims from the protests?
As of September 16, the total claims have reached approximately NPR 20.7 billion, with expectations for this number to rise.
Which company received the highest claims?
The Oriental Insurance Company Limited has reported the highest claims amounting to NPR 5.14 billion.
How do these claims compare to past events?
These claims exceed those recorded during the 2015 earthquake, which totaled NPR 16.5 billion.
What are some of the affected businesses?
Affected businesses include the Hilton Kathmandu Hotel, Bhat-Bhateni Supermarket, and the headquarters of Ncell.
What measures are being taken to assess the damages?
Insurance companies are currently undergoing assessments of the losses to determine the total impact.
