PNB MetLife announces Rs 594 crore bonus to policyholders for FY22

(Representative Image)

PNB MetLife India Insurance Company Limited (PNB MetLife) on Thursday announced a bonus of Rs 594 crore for all eligible policyholders of participating products for fiscal year ended March 2022. A policyholder bonus is the share of profits generated by the company's participating fund, which is paid to customers at specific benefit events.

The insurer said it has been consistently declaring bonuses on participating products every year, and the bonus amount for FY22 is 12 percent higher than that of FY21. This bonus sum will benefit 4.95 lakh customers whose policies were in force as of 31st March 2022, PNB MetLife said in a release.

"This is the highest bonus that we have ever given out since our inception. Though the pandemic outbreak led to market volatility, we at PNB MetLife have been able to deliver consistent returns to our policyholders as a result of our prudent management practices," Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said. PNB MetLife said its strong fund management capabilities coupled with robust risk management practices have enabled the company to reward policyholders with consistent bonus pay-outs.