TATA AIA Life announces record annual bonus of Rs 861 cr for its policyholders
Mumbai: Tata AIA Life Insurance Co. Ltd. (Tata AIA) Wednesday declared a bonus of Rs 861 crores 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 percent.
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.
Strong fund management capabilities coupled with robust risk management practices have enabled the company 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, Tata AIA Life Chief Financial Officer Samit Upadhyay said, “Our long-term fund management philosophy and prudent investment & risk management policies have enabled us to declare a robust bonus to our consumers."
At least 99.83 percent of the rated AUM of Tata AIA is rated either 4 stars or 5 stars on a 5-year basis as of March 31, 2022, by Morningstar Ratings, the company said.
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 percent compared to Rs 3,416 crore for the year 2021-22