Tata AIA Life Insurance Co. Ltd., a leading Indian life insurer, has announced a bonus of INR 1,465 crores for Participating (PAR) policyholders for the 2024 financial year. The bonus payout announced is the highest ever paid by the Company, showcasing an increase of 24%overthe INR 1,183 crore bonus announced in FY23.
Tata AIA’s strong investment management capabilities and robust risk management practices have consistently resulted in higher bonuses for participating policy holders. This is also one of the reasons that the company enjoys the trust of its consumers, as they continue to renew their policies. Tata AIA achieved industry-leading Persistency performance in FY24, ranking #1 in four cohorts: 13th Month (89.50%), 25th Month (80.70%), 37th Month (75.00%), and 49th Month (73.10%), indicating policyholder loyalty and trust in the brand.
Tata AIA provides Participating products that help consumers accumulate wealth, earn income, secure their families, and fulfill their aspirations. These solutions offer life insurance, income, and bonuses, allowing them to grow their investments without market-linked risks. Kshitij Sharma, Executive Vice President and Appointed Actuary, Tata AIA, said, “We are delighted to deliver yet another year of excellent performance of bonus payout in our participation policies. Tata AIA’s record bonus announcement underscores our commitment to rewarding our policyholders for their trust.”
