Publish Date: | Fri, 24 Jun 2022 10:45 AM (IST)
ICICI Prudential Life Insurance. ICICI Prudential Life Insurance, India’s largest private life insurer in terms of new business sum assured, has announced an annual bonus of Rs 968.8 crore for FY 2022 to all eligible policyholders. This is the 16th consecutive year of bonus payment, which is the highest ever recorded and is 12 per cent 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. This will benefit about one million participating policyholders, taking them closer to achieving their long-term financial goals.
The range of innovative products offered by ICICI Prudential Life Insurance offers the customers the convenience of both capital guarantee and growth in the form of declared bonuses. Apart from this, it also provides financial security to the family through life insurance.
Strong fund management as well as risk management capabilities have enabled the company to consistently reward policyholders with record bonuses, as promised at the time of policy purchase. This indicates the strong performance of the products in enabling the customers to achieve their financial goals.
NS Kannan, Managing Director and CEO, ICICI Prudential Life Insurance said, “We are delighted to announce an annual bonus of Rs 968.8 crore for FY 2022, which is the highest ever bonus announced by the company since its inception. Further, it is 12% higher as compared to FY 2021.
By joining us, customers entrust their life savings to us to achieve their 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.
The COVID pandemic has created a lot of disruption and volatility in the business, but our long term fund management philosophy and stringent investment and risk management policies have ensured zero NPAs from the outset and throughout the market cycle.
This annual bonus is a testament to the company’s ability to successfully meet the challenges and deliver on the promises made to the policyholders. Our vision of building a sustainable institution that serves our clients’ safety and long term savings needs with sensitivity continues to guide us. With customer focus and emphasis on innovative product launches, we look forward to face the future with confidence and do everything we can to help families achieve their financial goals.
About ICICI Prudential Life Insurance Company (www.iciciprulife.com)
ICICI Prudential Life is jointly promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
The company commenced its operations in FY 2001 and has consistently been one of the top private sector life insurance companies in India on the basis of Retail Weighted Received Premium (RWRP). The company offers a wide range of products in the Protection and Savings category that match the various life stage requirements of the customers and thereby provide them financial security for their families as well as their long term financial able to achieve the goals.
The company’s digital platform provides customers with a paperless on-boarding experience and empowers them to conduct self-service transactions. Further, it provides a convenient way to make digital payments for purchase and renewal of premium payments and provide them hassle free facility for claim settlement.
The AUM of the company as on March 31, 2022 was Rs 2,404.92 billion and the total sum insured was Rs 23.50 trillion. ICICI Prudential Life is listed on both National Stock Exchange (NSE) Limited and BSE Limited.
Disclaimer:
Except for the historical information contained herein, statements in this release that contain words or phrases such as ‘will’, ‘expect’, etc., and expressions or variations of such expressions may appear to be forward-looking statements or forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties are not limited to this.
We see a real increase in demand for insurance and other financial products and services in the countries where we operate or where a large number of our customers live. Our ability to successfully implement our strategy, which includes our use of the Internet and other technology, our exploration of mergers and acquisitions opportunities, our ability to integrate mergers or acquisitions into our operations, and our political and To manage the risks associated with such acquisitions to achieve financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the consequences of any legal, tax or regulatory proceedings in India and other The future effects of the new accounting standards in the jurisdiction we use, our ability to enforce our dividends, or become a party to. ICICI Prudential Life Insurance is under no obligation to update forward-looking statements to reflect events or circumstances after the date. This release is not an offer of securities.
Posted By: Sandeep Chourey