ICICI Prudential, the life insurance arm of ICICI Bank, on Monday announced the annual bonus 968.8 crore for the financial year FY22 to all eligible participating policyholders. This will be the sixteenth consecutive year of bonus payments and the highest ever by the company, 12% higher than the FY21 bonus.
All participating policies in force till March 31, 2022 are eligible to receive this annual bonus, which will be added to the benefits of the policyholders.
in a statement, ICICI Prudential It was highlighted that around one million participating policyholders would benefit from this, taking them closer to achieving their long-term financial goals.
NS Kannan, Managing Director and CEO, ICICI Prudential Life Insurancesaid, “We are pleased to announce annual bonus of ₹968.8 crore for FY2022, which is the highest ever announced by the company since its inception. Further, it is 12% as compared to FY21. Long-term financial goals and we are confident that this bonus will enable our participating policyholders to move one step closer to their financial goals.”
ICICI Prudential said in the statement that the range of innovative partner products offered by ICICI Prudential Life Insurance provides both capital guarantee and growth in the form of declared bonus to the customers. It also provides financial security to the family through life insurance.
Further, the life insurer said that robust fund management capabilities coupled with robust risk management practices have enabled the company to consistently reward participating policyholders with higher bonuses as shown in the profit illustration at the time of purchase.
It demonstrates the efficacy of the participating products in enabling customers to achieve their financial goals.
Kannan further added, “Annual Bonus announcement is a testament to the company’s ability to successfully meet the challenges and deliver on the promises made to our partner policyholders. Our vision of creating a sustainable institution that serves the safety and long term savings needs of the customers. It fulfills us. Sensitivity continues to guide us.”
Kannan said, “With an emphasis on customer-centricity and innovation, we are well-positioned to face the future with confidence and help families achieve their financial goals.”
Shares of ICICI Prudential closed on BSE 501.30 each, down 1.4%.