Home / Companies / News /  ICICI Prudential declares highest-ever annual bonus of 968.8 cr to policyholders for FY22

ICICI Bank's life insurance arm, ICICI Prudential on Monday announced an annual bonus of 968.8 crore for financial year FY22 to all eligible participating policyholders. This would be the sixteenth consecutive year of bonus payment and also the highest ever by the Company to date, exceeding the FY2021 bonus by 12%.

All participating policies in force as of March 31, 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits.

In a statement, ICICI Prudential highlighted that almost a million participating policyholders will benefit from this, taking them closer to achieving their long-term financial goals.

N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance, said, "We are delighted to announce the annual bonus of 968.8 crore for FY2022, the highest ever declared by the Company since inception. Besides, it is 12% higher as compared to FY2021. Customers entrust us with their life’s savings to achieve their long-term financial goals and we believe this bonus will enable our participating policyholders to move a step closer to their financial goals."

ICICI Prudential in the statement said the range of innovative participating products offered by ICICI Prudential Life Insurance provides customers both comfort of capital guarantee and growth in the form of declared bonuses. It also provides financial security to the family by way of a life cover.

Further, the life insurer stated that strong fund management capabilities coupled with robust risk management practices have enabled the Company to consistently reward participating policyholders with a higher bonus than what was shown in the benefit illustration at the time of purchase.

This showcases the efficacy of participating products in enabling customers to achieve their financial goals, it added.

Kannan added, "The annual bonus declaration is a testament to the Company's ability to successfully weather challenges and delivers on the promises made to our participating policyholders. Our vision of building an enduring institution that serves the protection and long-term saving needs of customers with sensitivity continue to guide us."

"With a strong emphasis on customer-centricity and innovation, we remain well-positioned to face the future with confidence and assist families in achieving their financial goals," Kannan added.

On BSE, ICICI Prudential shares closed at 501.30 apiece down by 1.4%.

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