- ICICI Prudential Life insurance announces annual bonus of ₹ 867 crore
- All policyholders for FY 2021 are eligible for the bonus
- The bonus announced is higher than ever in the history by this company
ICICI Prudential Life Insurance has announced an annual bonus of ₹ 867 crore for all of the eligible participating policyholders for FY2021. The bonus declared by the company is the highest ever in its history till date and is also 10% higher than the bonus announced in the last Fiscal Year.
All the participating policies in force as of 31st March, 2021, will be eligible to receive this bonus and will be added to the policyholders’ benefits. A total of 9.8 lakh participating policyholders will be getting the benefit from this bonus, taking them closer to their long-term financial goals.
A Bonus is the share of profits which are generated by the Company’s participating policyholder’s funds that are added to their guaranteed maturity benefits, thus enhancing the corpus.
The is the 15th consecutive year that this company has declared a bonus, underscoring its customer-centricity and long-term investment approach in order to deliver a superior risk-adjusted returns to the policyholders.
The stringent investment philosophy of the Company has ensured zero defaults in its portfolio since its inception and across market cycles. As of 31st March, 2021, 96.8% of the fixed income portfolio is invested in sovereign or AAA-rated paper.
Managing Director (MD) and Chief Executive Officer (CEO) of ICICI Prudential Life insurance, N S Kannan, said, “We are delighted to announce that the annual bonus for FY2021 is the highest ever in the history of the Company.
“What gives us special satisfaction is the fact that it coincides with the 20th anniversary of our operations. It demonstrates our customer focus, resilience and ability to navigate through the unprecedented challenges posed by the pandemic.
“What drives us in this challenging environment is the commitment to our vision of building an enduring institution that serves the protection and long-term saving needs of our customers with sensitivity.”
The company’s complete range of the traditional long-term products offers its customers the safety of capital and also provides steady returns along with life cover which provides the much needed financial security for the family.