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Head Office

Lazimpat, Kathmandu, Nepal

Monday - Friday
09:00 AM - 05:00 PM

01- 4542646

01-4006648

977-1-4416427

info@nlgi.com.np

Reporting period

Claim related information

1.1 Number of claims paid 13,041

1.2 Amount of claims paid (Rs) 3,197,233,128

1.3 Number of claims rejected in the FY 1,603

1.4 Claims settlement ratio (%) 81.15%

1.5 Average claim turnaround time

Motor118 days

Marine147 days

Miscellaneous20 days

Engineering55 days

Aviation63 days

Agriculture31 days

Property insurance187 days

1.6 Outstanding claims ratio (%) 45.27%

1.7 Ageing analysis of outstanding claims

Outstanding for less than 1 year4,038 claimsRs 1,371,012,049

Outstanding for 1 to 3 years801 claimsRs 326,664,613

Outstanding for 3 to 5 years556 claimsRs 74,219,175

Outstanding for 5 years and above1,159 claimsRs 118,175,000

Policy and premium related information

2.1 Total number of policies in FY

Number of new policies153,550

Number of renewal policies70,361

Number of endorsement policies22,853

2.2 Gross premium collected in the FY (Rs) 4,207,970,090

2.3 Policy growth rate (%) 12.93%

2.4 Premium growth rate (%) 37.30%

2.5 Renewal ratio (%) 32.20%

2.6 Lapse ratio (%) Not reported

2.7 Loss ratio (%) 84.96%

Information on grievance redressal

3.1 Number of grievances/complaints received in this FY 0

3.2 Number of complaints resolved in this FY 0

3.3 Number of complaints pending in this FY 0

3.4 Complaint reason Not reported

3.5 Average resolution time Not reported

No grievances or complaints were recorded for this reporting period.

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