Monday, May 20, 2024

Reliance Nippon Life Insurance declares bonus

Reliance Nippon Life Insurance Company Limited, a Joint Venture between Reliance Capital and Nippon Life Insurance, Japan, announced a total bonus of ₹306.88 crore for its participating policyholders in FY21.This bonus is on the back of a strong financial performance for the year ended March 31, 2021 where the company realized ₹50 Cr. as profits after tax.

As per this announcement, all participating policies in force as of March 31, 2021 have been credited with bonus declared. For policies with reversionary bonuses, this will increase the guaranteed benefits on Death and Maturity. This bonus is paid out of the profits generated by the company’s participating policyholders’ funds for the year FY 2020-21. This bonus issuance will advantage over 6,85,000 participating policyholders of Reliance Nippon Life. The company has been regularly declaring bonuses over the last 17 years as these bonuses serve as an incentive for customers to regularly pay their premiums and stay invested for the entire policy term.

Commenting on this occasion, Mr Ashish Vohra, CEO, Reliance Nippon Life said “We take pride in our consistent, year-on-year growth, which is a clear indicator of the trust bestowed in us by our valued customers. Amid the growing uncertainties caused by the pandemic, we strongly take to heart our social mission as a life insurance company, as we assure customers our unflinching support to help them carve a financially secure future. The bonus rate declared for various participating policies is a testimony of our consistent endeavours to deliver superior value to customers.”

Bonuses announced under participating policies allow for wealth creation to help our customers fulfil their long-term life goals, while the guaranteed returns offered as Sum Assured on maturity or the death of the policyholder, ensures them a financially secure tomorrow for themselves and their lovedones.

Reliance Nippon Life Insurance is India’s leading and trusted private life insurance company, with total Assets Under Management (AUM) of Rs. 24,383 Crore, total Sum Assured of Rs. 78,847 Crore and Claims Settlement ratio of 98.48% as on March 31, 2021.

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