ICICI Prudential Life declares ₹788-crore bonus to policyholders for FY201 min read . Updated: 18 Jun 2020, 01:46 PM IST
- The bonus declared for 2019-20 is 15% higher than 2018-19
- It will benefit nearly nine lakh policy-holders
Private sector ICICI Prudential Life Insurance today announced a bonus of ₹788 crore for its bouquet of participating products. "All participating policies in force as of March 31, 2020 are eligible to receive this bonus, which will be added to their guaranteed maturity or death benefit," the insurance company said in a statement. This is the 14th consecutive year ICICI Prudential Life Insurance has declared a bonus, it said in a statement.
The bonus declared for 2019-20 is 15% higher than 2018-19. It will benefit nearly nine lakh policy-holders, it added. "Participating products offer safety of capital while helping build a savings pool to achieve one's financial goals," the company mentioned.
"Policyholders depend on us to ensure the fruition of their long term financial goals and the bonus of ₹788 crore will take them a step closer to it," said N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance.
"Participating savings products offer smoothened returns while providing insulation from market variations. Lakshya, which we launched last year, is well-suited for customers with a low risk appetite," Kannan added.
ICICI Prudential Life is the first private life insurance company to cross the ₹1 trillion mark for Assets under Management (AUM). On March 31, 2020, the Company had an AUM of ₹ 1,529.68 billion and a Total Sum Assured of approx. ₹ 14.80 trillion. ICICI Prudential Life is listed on both National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).