Reliance Nippon Life declares Rs 344 crore bonus to policyholders

Reliance Nippon Life Insurance Company on Monday announced an annual bonus of Rs 344 crore to its participating policyholders for FY23.

The company reported Rs 108 crore in net income for the year, which is a 65 per cent growth over FY22.

This bonus issuance will help over 5.69 lakh participating policyholders, Ashish Vohra, the chief executive said, adding the insurer has been giving out bonuses for the past 22 years.

Reliance Nippon Life has assets under management of Rs 30,609 crore and a total sum assured of Rs 85,950 crore as of March 2023.