Informative

PNB MetLife Insurance declares 21% higher bonus for 5.82 lakh policyholders

Update / Judgement Date

12 Jun 2024

Source

CNBC TV18

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insurance

PNB MetLife has announced a bonus of ₹930 crore for eligible participating policyholders, benefiting approximately 5.82 lakh customers. This reflects a 21% increase from the previous year, with an additional ₹161.40 crore contributing to this year's bonus amount. \r

Sanjay Kumar, Chief Investment Officer, highlighted the enduring benefits of participating insurance products, emphasizing their long-term rewards for policyholders. This move follows similar recent announcements in the insurance sector: \r

Shriram Life Insurance declared a ₹201 crore bonus, Canara HSBC Life Insurance announced ₹232 crore, Max Life Insurance declared ₹1,826 crore, Kotak Mahindra Life Insurance announced ₹1,007 crore, HDFC Life declared ₹3,722 crore, and Bajaj Allianz Life declared ₹1,383 crore. \r

These bonuses represent insurers' profits shared with policyholders, enhancing policy benefits through reversionary and terminal bonuses based on specific conditions.

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PNB MetLife Insurance declares 21% higher bonus for 5.82 lakh policyholders

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