Tata AIA Life Insurance Company Limited (one of the fastest-growing private life insurers) has declared a bonus of Rs 861-crore 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 31 March 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.
Chief Financial Officer of Tata AIA Life, Samit Upadhyay said, at Tata AIA, the long-term financial wellbeing of their consumers is at the core of everything they do, and it is their endeavor to make sure the consumers are financially secure. “Our long-term fund management philosophy and prudent investment & risk management policies have enabled us to declare a robust bonus to our consumers. We are sure this will go a long way in meeting their protection and long-term saving needs”, he added.
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-Crore for the year 2021-22. 99.83% of the rated AUM of Tata AIA is rated either 4 stars or 5 stars on a 5-year basis as of 31 March 2022, by Morningstar Ratings.
