Tata AIA Life Insurance Co Ltd has declared a bonus of Rs 861 crore for FY2022 to all eligible participating policyholders. This is the 5th consecutive year of bonus payment and exceeds the bonus paid in FY2021 by 20%.
All participating policies in-force as of March 31, 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits.
According to the company, strong fund management capabilities coupled with robust risk management practices have enabled it to consistently reward participating policyholders with higher bonuses, showcasing the efficacy of participating products in helping consumers achieve their financial goals.
Commenting on the occasion, Samit Upadhyay, Chief Financial Officer, Tata AIA Life, said, “At Tata AIA, the long-term financial wellbeing of our consumers is at the core of everything we do, and it is our endeavor to make sure they are financially secure. Our long-term fund management philosophy and prudent investment & risk management policies have enabled us to declare a robust bonus to our consumers. We are sure this will go a long way in meeting their protection and long-term saving needs. We remain committed towards offering significant value to our consumers through our highly rated and consumer-friendly insurance solutions.”
In all funds put together, the company recorded an Individual Weighted New Business Premium (IWNBP) income of Rs 4,455 crore for the financial year 2021-22, a growth of 30% compared to Rs 3,416 cr last year.