Tata AIA Life Insurance has declared ₹861 crore in annual profit transfers to the participating policyholders for FY22.
The company said this is the fifth consecutive year of profit payments (profit sharing) to policyholders and is 20 percent more than the profit shared with policyholders in FY21, making it the largest so far.
All participating policies in force on March 31, 2022 are eligible to receive this annual payout, it said in a statement Tuesday.
The declared profit will be added to policyholders’ benefits, said Samit Upadhyay, chief financial officer of the company.
He said the company’s individual weighted new business premium income rose to Rs 4,455 crore in FY22, up 30 per cent from Rs 3,416 crore in FY21.
9 August 2022