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Non-life insurance companies have so far paid out only 18.7 percent of the total claims filed for losses arising from the GenZ protests of Sept 8 and 9, according to updated figures from the Nepal Insurance Authority (NIA). The two days of violent unrest, marked by arson, vandalism and clashes between security forces and protesters, resulted in extensive damage to public property, business establishments, vehicles and private homes.

Of around 3,300 claims amounting to approximately Rs 23.44bn received by insurers, companies have made advance and parietal payments totaling Rs 4.38bn to policyholders, the NIA said.

Property insurance has accounted for the largest share of losses. Out of 710 property claims worth Rs 19.88bn, insurers have so far settled about Rs 3.21bn. Similarly, out of 2,308 motor insurance claims valued at Rs 3.47bn, payments totaling Rs 1.08bn have been made as of Dec 3..

Engineering and contractor’s risk policies have seen 225 claims worth Rs 555.5m, of which insurers have settled Rs 68.1m. Transport insurance accounts for 12 claims valued at Rs 16.8m, with payouts of Rs 6.6m. Under the “other” category, insurers have paid Rs 4.9m against 45 claims totaling Rs 384m.

According to the NIA, 1,984 of the total claims are linked directly to arson and vandalism in Kathmandu and several districts. Seventy-four people were killed in the protests, which escalated after police used excessive force to disperse crowds. Hotel Hilton Kathmandu alone reported damages of around Rs 8bn, making it one of the largest individual losses.

All fourteen non-life insurance companies and four microinsurers have reported exposure to losses from the protests. Seven companies have liabilities exceeding Rs 1bn each.

Oriental Insurance has received the highest claim totaling Rs 5.14bn from 40 policies, followed by Siddhartha Premier Insurance with Rs 4.93bn across 258 claims. Shikhar Insurance ranks third in terms of claim value, with 366 cases totaling Rs 2.39bn. IME Prudential Insurance has 24 claims worth Rs 1.59bn, while Sagarmatha Lumbini Insurance has reported 233 claims amounting to Rs 1.47bn.

The Nepal Stock Exchange (NEPSE) plunged by 1. 66 points to close at 2, 607. 37. 03 points on Thursday. 

Similarly, the sensitive index, however, increased by 0. 11 points to close at 446. 30 points.

A total of 7,768,601-unit shares of 326 companies were traded for Rs 3. 49 billion.

Meanwhile, Swastik Laghubitta Bittiya Sanstha Limited (SWASTIK) was the top gainer today with its price surging by 10. 00 percent.

Likewise, Muktinath Krishi Company Limited (MKCL) was the top loser as its price fell by 8. 42 percent.

At the end of the day, the total market capitalization stood at Rs 1. 47 trillion.

Ambassador of Nepal to Thailand and Vietnam, Dhan Bahadur Oli, has called for Vietnamese investors to increase their investment in Nepal which has huge prospects for investment. 

Attending the discussion with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Vietnamese Chamber of Commerce and Industries (VCCI) held in the capital of Vietnam, Hanoi, he said that the diplomatic relations between Nepal and Vietnam have reached 50 years and emphasised on augmenting collaboration between the two countries for trade and investment areas. 

"Lately new challenges have emerged in the global economy. In this context, both the countries should mutually lay focus on expanding economic collaboration", he noted. There is also potential in the tourism sector between the two countries, he added. 

The Ambassador also highlighted the possibilities of trade at regional and international levels through economic collaboration between the two countries. 

He further said Nepal also has potentials for production-focused industry, ICT, pharmaceutical and herbal medicines among other sectors. 

FNCCI Chairperson Chandra Prasad Dhakal urged the Vietnamese investors to advance further economic collaboration between Nepal and Vietnam. 

“I urge Vietnamese investors to pursue economic cooperation between the two countries, noting that Nepal has huge investment potential. We assure you of our maximum efforts to utilize such opportunities,” Dhakal added.

Stating that Nepal has strong market potential for handicraft items, tea, coffee, and herbs, Chair Dhakal said that investment in these sectors could also be increased.

He noted that Nepal offers a substantial market for Vietnam’s agricultural goods, seafood, electronics, and various other products. He added that Nepal’s foreign direct investment climate is steadily improving, supported by investment-friendly laws and ongoing reforms in licensing, customs procedures, and tax administration.

According to Dhakal, the government is fully aware of the needs of foreign investors and remains committed to safeguarding their investments.

Investment in Nepal especially in cable car projects, resorts, and adventure and wellness tourism has been increasing, he said, adding that they wished to welcome Vietnamese investors to Nepal.

The FNCCI President invited the Vietnamese delegation to the FNCCI’s upcoming Annual General Assembly to directly observe Nepal’s business environment.

Vietnam Chamber of Commerce and Industry Deputy Executive President Nguyen Quang Vinh said they are eager to establish additional economic partnerships with Nepal.

“We are pleased to have the opportunity to welcome the FNCCI leadership to Vietnam,” he said, emphasizing the potential for enhanced trade and investment cooperation between the two countries, adding that such cooperation will be further explored in the days to come.

The price of gold has increased by Rs 1, 000 per tola in the domestic market on Thursday. 

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 253, 100 per tola today. It was traded at Rs 252, 100 per tola on Wednesday. 

Similarly, the price of silver has increased by Rs 55 and is being traded at Rs 3, 805 per tola.