ICICI Pru Life makes 12% hike in bonus for FY22 at Rs968 crore; stock skids ~3%

22 Jun 2022 , 03:16 PM

ICICI Prudential Life Insurance announced an annual bonus of Rs968.8 crore to all qualified participating policyholders for FY22, an increase of 12% from the previous year. This will be the sixteenth bonus payment by the company in a row.

This annual incentive will be added to the benefits for policyholders, and is available to all participating policies that are in effect as of March 31, 2022, stated the company.

According to ICICI Prudential Life, the company has continually been able to award participating policyholders with a greater bonus on the back of strong fund management capabilities and effective risk management procedures.

At around 3.18 PM, ICICI Prudential Life’s stock was trading at Rs488, down by Rs15.15 or 3.01% from its previous closing of Rs503.15 on the BSE. It touched intraday high and low of Rs502.50 and Rs480.50 respectively.