PNB MetLife pronounces Rs 532 crore bonus for policyholders in FY21

PNB MetLife India Insurance coverage Firm has introduced a bonus of Rs 532 crore for the eligible policyholders of collaborating merchandise throughout 2020-21.

This bonus is 7 per cent larger than that in earlier 12 months.

PNB MetLife mentioned it has been constantly declaring bonus on collaborating merchandise yearly and 4.6 lakh prospects, whose insurance policies are in pressure as of March 31, 2021, might be benefiting from this bonus.

Policyholder bonus is the share of income generated by the corporate’s collaborating funds which is paid to the purchasers at varied profit occasions.

PNB MetLife’s robust fund administration capabilities coupled with sturdy threat administration practices have enabled the corporate to reward policyholders with larger bonus payouts, the insurer mentioned in a launch on Friday.

Ashish Kumar Srivastava, MD & CEO, PNB MetLife, mentioned regardless of these making an attempt occasions, the corporate has delivered regular progress on collaborating merchandise over time.

“The declaration of this Rs 532 crore bonus reinforces our dedication to assist our prospects attain their monetary aspirations by way of each stage of Life,” he mentioned.

PNB MetLife’s shareholders embody MetLife Worldwide Holdings LLC. (MIHL), Punjab Nationwide Financial institution (PNB), Jammu & Kashmir Financial institution, M Pallonji and Firm Pvt Ltd and different non-public buyers. MIHL and PNB are the bulk shareholders.

(Solely the headline and film of this report might have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)

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