MUMBAI, JUNE 25, 2024: Reliance Nippon Life Insurance Company Limited has declared a total bonus of ₹346 Cr. for its participating policyholders in FY24. The Company showed strong financial performance in FY24 by achieving:
• 22% growth in the number of new policies sold.
• 10% growth in Individual Premium for New Business
• 16% growth in AUM and
• 82.5% persistence in month 13
The company declared a profit before tax of Rs. 198 cr. which represents a growth of 84% compared to fiscal year 23.
According to the announcement, all eligible participating policies as of March 31, 2024 have benefited from this bonus statement. The company has been consistently declaring bonuses for the last 23 years, incentivizing customers to pay their premiums regularly and stay invested for the life of the policy. The Participating Fund's strong performance can be attributed to a well-strategic asset allocation in equities, which delivered significantly higher performance compared to the broader market. Additionally, strong performance is also visible in our flagship ULIP Equity Fund 3, which has returned 26.4%, outperforming the benchmark NIFTY 50*.
Commenting on the bonus announcement, Ashish Vohra, MD & CEO, Reliance Nippon Life Insurance, said, “We have focused on creating value for our customers through consistent performance, strong investment management and a sharp focus on operational efficiency. In recent years, the company has focused on customer delight, dealer satisfaction and employee engagement through digital transformation initiatives have helped increase reach in. the last mile, allowing us to penetrate deeper into our existing markets with a continued focus on quality, leading to healthy performance results."
Focusing on delivering superior customer value, the company recently launched a new participating product, Reliance Nippon Life Smart Total Advantage Return (RNL STAR), which can solve a number of solutions at different stages of life, such as a second source of income. , early childhood education, retirement or legacy creation.
About Reliance Nippon Life Insurance
Reliance Nippon Life Insurance is one of India's leading and most trusted private life insurance companies with total assets under management (AUM) of ₹35,508 Cr. and total sum assured of ₹91,720 Cr. as on March 31 2024. The company is one of the largest non-bank-backed private life insurers with over 10 million policyholders, a strong distribution network of 713 branches and 61,036 advisors as of March 31, 2024. The company has a liquidation Claims Ratio of 98.8% as of March 31, 2024. In FY25, the company was recognized as a Top 20 Best Places to Work by the Great Places to Work (G) Institute.
Visit us at: https://www.reliancenipponlife.com/
For media inquiries, please contact us at: [email protected]
*1 year return to May 31, 2024
.
• 22% growth in the number of new policies sold.
• 10% growth in Individual Premium for New Business
• 16% growth in AUM and
• 82.5% persistence in month 13
The company declared a profit before tax of Rs. 198 cr. which represents a growth of 84% compared to fiscal year 23.
According to the announcement, all eligible participating policies as of March 31, 2024 have benefited from this bonus statement. The company has been consistently declaring bonuses for the last 23 years, incentivizing customers to pay their premiums regularly and stay invested for the life of the policy. The Participating Fund's strong performance can be attributed to a well-strategic asset allocation in equities, which delivered significantly higher performance compared to the broader market. Additionally, strong performance is also visible in our flagship ULIP Equity Fund 3, which has returned 26.4%, outperforming the benchmark NIFTY 50*.
Commenting on the bonus announcement, Ashish Vohra, MD & CEO, Reliance Nippon Life Insurance, said, “We have focused on creating value for our customers through consistent performance, strong investment management and a sharp focus on operational efficiency. In recent years, the company has focused on customer delight, dealer satisfaction and employee engagement through digital transformation initiatives have helped increase reach in. the last mile, allowing us to penetrate deeper into our existing markets with a continued focus on quality, leading to healthy performance results."
Focusing on delivering superior customer value, the company recently launched a new participating product, Reliance Nippon Life Smart Total Advantage Return (RNL STAR), which can solve a number of solutions at different stages of life, such as a second source of income. , early childhood education, retirement or legacy creation.
About Reliance Nippon Life Insurance
Reliance Nippon Life Insurance is one of India's leading and most trusted private life insurance companies with total assets under management (AUM) of ₹35,508 Cr. and total sum assured of ₹91,720 Cr. as on March 31 2024. The company is one of the largest non-bank-backed private life insurers with over 10 million policyholders, a strong distribution network of 713 branches and 61,036 advisors as of March 31, 2024. The company has a liquidation Claims Ratio of 98.8% as of March 31, 2024. In FY25, the company was recognized as a Top 20 Best Places to Work by the Great Places to Work (G) Institute.
Visit us at: https://www.reliancenipponlife.com/
For media inquiries, please contact us at: [email protected]
*1 year return to May 31, 2024
.
