State aid to reinsurers in difficulty

The Nepali government will assist insurance companies that are having difficulties in indemnifying their clients following the earthquake of 25 April 2015.
Photo credit: Hilmi Hacaloğlu/US Gov2015 Nepal earthquake

All 17 non life insurance companies on the market hold 9 billion NPR (89 million USD) in shareholders’ equity. But the total amount of claims reported by insurance companies reached 13.83 billion NPR (137 million USD).

So far, compensation paid by the companies have amounted to 786.6 million NPR (7.7 million USD), 286.6 million NPR (2.8 million USD) of which are accounted for by insurers, and 500 million NPR (4.9 USD million) are disbursed by reinsurers.

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