Tata AIA declares its highest-ever bonus of Rs 1,183 crore for policyholders
The company has assured the policyholders that it will continue to work hard to ensure that Tata AIAs consumers are financially secure and rewarded for their loyalty, said Samit Upadhyay, President and Chief Financial Officer, Tata AIA Life Insurance.
Tata AIA, one of India’s largest life insurers, has declared its highest-ever bonus of Rs 1,183 crore to its policyholders. This is 37 per cent higher than the Rs 861 crore bonus announced in FY22, the company said in its press release. A bonus in life insurance is a sum that is accumulated under a life insurance policy each year and is paid out upon the demise of the life assured, renunciation, or plan maturity, whichever comes first. This bonus payment is payable in addition to any life insurance policy payouts.
Over seven lakh participating policies are eligible for this bonus. The company has assured the policyholders that it will continue to work hard to ensure that Tata AIA's consumers are financially secure and rewarded for their loyalty," said Samit Upadhyay, President and Chief Financial Officer, Tata AIA Life Insurance.
About Tata AIA
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). In the quarter ending March 2023, the total assets under management (AUM) was Rs 71,006 crore.
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