ICICI Prudential Life Insurance, a private life insurer, has announced a Rs 968.8 crore annual incentive for policyholders for FY2022. This is the 16th consecutive annual bonus and also the highest ever till date.  The yearly bonus for policyholders in FY2022 is 12% higher than the bonus in FY2021.

Participating policies as of March 31, 2022 are entitled  to receive the annual bonus.  According to an official statement, this will assist approximately a million policyholders in achieving their long-term financial goals.

"We are delighted to announce the annual bonus of Rs 968.8 crore for FY2022, the largest ever declared by the firm since its inception," ICICI Prudential Life Insurance CEO and MD NS Kannan said. Furthermore, it is 12% greater in comparison to FY2021."

"The COVID-19 epidemic was characterized by business disruptions and volatility," he said, "but our long-term fund management philosophy and strong investment and risk management procedures have ensured zero non-performing assets since inception and throughout market cycles."

On March 31, this year, the company had Rs 2,40,492 crore in assets under management and Rs 23.50 lakh crore in total sum assured.

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