All participating policies in-force as of March 31st 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits
Mumbai:
Tata AIA Life Insurance (Tata AIA) has 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%.
All participating policies in-force as of March 31st 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.
Samit Upadhyay, chief financial officer, Tata AIA Life said, “We remain committed towards offering significant value to our consumers through our highly rated and consumer friendly insurance solutions.”
99.83 per cent of the rated AUM of Tata AIA is rated either 4 stars or 5 stars on a 5-year basis as of March 31st, 2022, by Morningstar Ratings.
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. for the year 2021-22.