Insurance News Details

PNB Met life announces Rs 768.6 crore bonus to policyholders

(20-Jun-23   19:20)

PNB Met life insurance on Tuesday announced Rs 768.6 crore in annual bonus to policyholders for fiscal 2023. This is the highest payout by the insurer till date.

PNB Met life said the dividend for the year is 29 percent higher than what it had paid out in FY22 and will benefit 5.52 lakh participating policyholders.

The company has a good track record of paying bonuses to policyholders of participating products over the past 19 years.

Its managing director and chief executive Ashish Kumar Srivastava said, ?the Rs 768.6 crore bonus is the highest we have given out till date, and shows our sound investment strategies and efficient risk management practices.?

PNB MetLife is a joint venture between state-run Punjab National Bank, Metlife International Holdings, M Pallonji & Company, Jammu & Kashmir Bank, and other private investors, with the bank Metlife being the majority shareholder.

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