Reliance Nippon Declares ₹346 Cr. Bonus Amid Robust Financial Growth in FY24

Reliance Nippon Life Insurance declared a ₹346 Cr. bonus for participating policyholders in FY24, marking robust financial performance. The company saw 22% growth in new policies, 10% in individual premiums, and 84% increase in profit before tax. Their well-strategized asset allocations contributed significantly to these results.

MUMBAI, JUN 25, 2024: Reliance Nippon Life Insurance Company Limited has announced a total bonus of ₹346 Cr. for its participating policyholders in FY24. This declaration follows a robust financial year for the company, which achieved a 22% growth in the number of new policies sold.

The company also reported a 10% growth in Individual New Business Premium, a 16% growth in Assets Under Management (AUM), and a 82.5% 13th Month persistency rate. The declared Profit Before Tax was ₹198 Cr., indicating an 84% growth over FY23. All eligible participating policies as of March 31, 2024, benefitted from this bonus declaration.

Commenting on the announcement, Mr. Ashish Vohra, ED & CEO of Reliance Nippon Life Insurance, highlighted the company's commitment to creating customer value through consistent performance, robust investment management, and a focus on operating efficiencies. The company recently launched the Reliance Nippon Life Smart Total Advantage Return (RNL STAR) to address various life stage solutions for policyholders.