Which Insurers in Nepal Pay Claims? Claim Settlement Ratio by Company
A policy is only as good as the claim it pays. Using the Nepal Insurance Authority's own figures, here is how much of the claimed money each insurer paid and how much was still pending.
- Life insurers paid between 79.9% and 98.9% of claim value in FY 2081/82. Top: Asian Life Insurance, Sun Nepal Life Insurance, Prabhu Mahalaxmi Life Insurance.
- Non-life insurers paid between 18.2% and 62.9%. Their figures are naturally lower because big claims wait for a survey.
- Across the industry, life insurers paid Rs 7,872 crore of claims in FY 2081/82 and non-life insurers Rs 2,514 crore.
- Look at two years, not one. A single large pending claim can pull a small insurer's figure down for a year.
यो पेज नेपालीमा पनि छ: कुन बीमा कम्पनीले दाबी भुक्तानी गर्छ?
Life insurers
Sorted by the share of claim value paid in FY 2081/82. Click any column heading to re-sort.
| Insurer | Claims paid 2081/82 (Rs cr) | Pending at year end (Rs cr) | Share paid 2081/82 | Share paid 2080/81 | Premium 2082/83 (Rs cr) |
|---|---|---|---|---|---|
| Asian Life Insurance | 618.89 | 7.18 | 98.9% | 98.5% | 1,043.66 |
| Sun Nepal Life Insurance | 157.34 | 2.06 | 98.7% | 98.6% | 463.11 |
| Prabhu Mahalaxmi Life Insurance | 115.08 | 1.96 | 98.3% | 98.6% | 633.70 |
| Himalayan Life Insurance | 733.85 | 14.30 | 98.1% | 97.9% | 1,856.06 |
| Reliable Nepal Life Insurance | 143.91 | 3.05 | 97.9% | 96.5% | 642.09 |
| Surya Jyoti Life Insurance | 369.67 | 9.49 | 97.5% | 98.7% | 1,290.67 |
| Citizen Life Insurance | 191.18 | 12.48 | 93.9% | 92.8% | 916.90 |
| Life Insurance Corporation (Nepal) | 1,259.02 | 99.28 | 92.7% | 96.4% | 2,123.39 |
| Nepal Life Insurance | 1,919.65 | 200.51 | 90.5% | 90.0% | 5,368.85 |
| Rastriya Jeevan Beema Company GOVT | 656.19 | 73.43 | 89.9% | 88.5% | 964.05 |
| MetLife Nepal | 294.62 | 51.06 | 85.2% | 85.7% | 686.03 |
| National Life Insurance | 1,107.13 | 202.25 | 84.6% | 93.4% | 2,468.58 |
| Sanima Reliance Life Insurance | 177.12 | 41.64 | 81.0% | 81.6% | 799.43 |
| IME Life Insurance | 128.37 | 32.30 | 79.9% | 79.4% | 745.41 |
Source: NIA Annual Report 2081/82, Annex 14, 15, 25 and 26. FY 2081/82 figures are unaudited. "Share paid" is our calculation: claims paid in the year ÷ (claims paid + claims still pending at year end).
Non-life insurers
| Insurer | Claims paid 2081/82 (Rs cr) | Pending at year end (Rs cr) | Share paid 2081/82 | Share paid 2080/81 | Premium 2082/83 (Rs cr) |
|---|---|---|---|---|---|
| NLG Insurance | 237.94 | 140.11 | 62.9% | 58.9% | 420.80 |
| IGI Prudential Insurance | 246.33 | 161.20 | 60.4% | 49.1% | 455.11 |
| United Ajod Insurance | 190.59 | 129.11 | 59.6% | 66.8% | 311.62 |
| Shikhar Insurance | 307.44 | 211.31 | 59.3% | 54.7% | 651.13 |
| Himalayan Everest Insurance | 189.58 | 148.78 | 56.0% | 50.5% | 537.42 |
| The Oriental Insurance | 175.25 | 141.27 | 55.4% | 60.2% | 325.22 |
| Nepal Insurance | 98.17 | 88.52 | 52.6% | 40.8% | 221.62 |
| NECO Insurance | 167.15 | 171.34 | 49.4% | 42.0% | 365.50 |
| Siddhartha Premier Insurance | 276.40 | 284.40 | 49.3% | 49.3% | 431.74 |
| Sagarmatha Lumbini Insurance | 362.52 | 387.90 | 48.3% | 42.6% | 542.23 |
| Sanima GIC Insurance | 115.54 | 193.03 | 37.4% | 37.6% | 308.20 |
| Prabhu Insurance | 51.63 | 133.76 | 27.8% | 36.5% | 202.28 |
| National Insurance | 62.99 | 164.92 | 27.6% | 46.8% | 129.07 |
| Rastriya Beema Company GOVT | 32.64 | 146.89 | 18.2% | 7.0% | 158.37 |
Source: NIA Annual Report 2081/82, Annex 14, 15, 25 and 26. FY 2081/82 figures are unaudited. "Share paid" is our calculation: claims paid in the year ÷ (claims paid + claims still pending at year end).
The NIA notes that the FY 2081/82 figures are unaudited, that Rastriya Jeevan Beema Company and Rastriya Beema Company had not completed their audits, and that National Insurance's accounts for 2080/81 and 2081/82 were unaudited. Premium figures are for FY 2082/83 from the NIA's Ashar 2083 monthly data.
How we calculate the share paid
The NIA publishes, for each insurer, the total claims paid during the year and the total claims still pending at the end of the year. It does not publish an official claim settlement ratio. We divide claims paid by claims paid plus claims pending. This is a measure of money, not the number of claims, and it treats pending claims as unpaid, even though many are simply still being processed. A high figure means an insurer clears what is claimed quickly; a low figure means a larger backlog.
Why non-life figures are lower
A life claim usually needs a death certificate or a maturity date, so it can be paid quickly. A non-life claim, such as a crashed car, a factory fire or flood damage, has to be assessed by a surveyor first, and large commercial claims can take months. That leaves more money pending at year end. Compare non-life insurers with each other.
What else to check before you buy
- Service near you: a branch in your district makes claims easier.
- Policy wording: exclusions and waiting periods matter more than the brochure.
- Honest disclosure: most rejected life and health claims involve an undisclosed illness. Declare everything on the proposal form.
- Nominee: name one and keep their details current, so your family is not held up.
Frequently asked questions
What is the claim settlement ratio of insurance companies in Nepal?
The NIA does not publish an official ratio. Using its claims paid and pending figures, life insurers paid between 79.9% and 98.9% of claim value in FY 2081/82, and non-life insurers between 18.2% and 62.9%.
Which life insurance company in Nepal has the best claim settlement?
In FY 2081/82, Asian Life Insurance (98.9%), Sun Nepal Life Insurance (98.7%) and Prabhu Mahalaxmi Life Insurance (98.3%) paid the largest share of claim value. Check the previous year too before deciding.
Which non-life insurance company in Nepal pays claims best?
In FY 2081/82, NLG Insurance (62.9%), IGI Prudential Insurance (60.4%) and United Ajod Insurance (59.6%) paid the largest share of claim value among non-life insurers.
Where does this data come from?
From the Nepal Insurance Authority Annual Report 2081/82, Annex 14 and 15 (life) and Annex 25 and 26 (non-life), which list claims paid and claims pending for every insurer.
Byajdar does not sell insurance. We are not licensed by the Nepal Insurance Authority and take no commission from insurers. Buy directly from an insurer or a licensed agent, and see our methodology for how we source figures.