The violent escalation of Gen Z protests has left widespread destruction across Nepal, causing billions of rupees in property damage and prompting insurers to prepare for claims exceeding Rs 50 billion.
The Nepal Insurers’ Association (NIA) reported that preliminary estimates indicate non-life insurance claims from private property losses could surpass the levels seen after the 2015 earthquake. “The figure is likely to cross even that benchmark,” NIA President Chunky Chhetri said.
Tuesday witnessed the most severe damage, with further destruction reported on Wednesday despite the Nepal Army taking charge of security. Corporate and institutional properties were among the hardest hit, including Hilton Hotel, Bhatbhateni Supermarket, Ncell, CG Electronics, Global College, Ullens School, and Central Business Park. Residences of business leaders, politicians, and ordinary citizens were also vandalized following police shootings that left 19 youths dead, sparking widespread unrest.
Bhatbhateni Supermarket’s Chief Operating Officer Panu Datta Poudel confirmed that outlets in Tangal, Maharajgunj, Chitwan, Chuchchepati, and Koteshwor were “completely damaged,” and the company is still assessing financial losses. Infrastructure linked to Chandragiri and Maulakalika cable cars, both owned by FNCCI President Chandra Prasad Dhakal, also sustained damage, while former FNCCI president Shekhar Golchha reported vandalism at his residence. Significant destruction was also recorded in Biratnagar and Itahari, with vehicle damages described as “exorbitantly huge.”
The banking sector has not been spared. The Nepal Bankers’ Association (NBA) reported vandalism at four commercial bank branches—including Rastriya Banijya Bank in New Baneshwor, Himalayan Bank in Battisputali, Standard Chartered Bank in Chitwan and Morang, and Global IME Bank in Thapathali—along with several extension counters. NBA President Santosh Koirala stated that the association, in coordination with Nepal Rastra Bank, is collecting nationwide loss data.
In FY 2023/24, Nepal’s non-life insurance companies collected Rs 40.34 billion in premiums and settled Rs 20.71 billion in claims. In FY 2024/25, they collected Rs 41.47 billion and paid out Rs 17.90 billion. Insurers now fear a much larger financial burden, noting that premiums for “sabotage and terrorism” policies—which cover politically motivated violence—are relatively low.
With losses mounting, both insurers and bankers warn that the economic fallout from the Gen Z protests could rival some of Nepal’s most severe crises in recent memory.
