KATHMANDU, Sept 18: The aftermath of the GenZ protests is now unfolding not just on the streets but in the financial corridors of Nepal’s insurance industry. Non-life insurers have been hit with claims amounting to a staggering Rs 20.70 billion, reflecting the scale of destruction unleashed during the September 8 and 9 agitation.
According to records with the Nepal Insurance Authority (NIA), a total of 1,984 claims have been filed so far, almost all linked to private businesses and properties. With public structures uninsured, companies are spared from additional exposure—except for government vehicles under third-party liability coverage.
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Some insurers are facing unprecedented pressure. Oriental Insurance alone has received claims worth Rs 5.147 billion. Siddhartha Premier Insurance follows with 258 claims totaling Rs 4.93 billion, while Shikhar Insurance faces 366 claims amounting to Rs 2.39 billion.
The losses have rippled into the government-owned Nepal Reinsurance Company (NRIC), which now carries liabilities of Rs 11.77 billion from 14 non-life insurers. Among its biggest burdens are reinsurance provisions linked to some of the country’s most prominent institutions and businesses. These include Bhatbhateni Superstore, Kantipur Media House, Ullens School, CG Impex, United Distributors, the looting of 18 kg of gold from Rastriya Banijya Bank’s New Baneshwor branch, as well as claims from Pokhara-based Bagaicha Hotel and Hotel Sarobar.
The numbers highlight not just the financial blow to insurers but also the ripple effect of a movement that turned violent, torching and vandalising some of Nepal’s biggest names in business. As the claims are processed, the true economic cost of the GenZ uprising is becoming clearer, extending far beyond the charred remains of the properties it left behind.
