PNB Metlife policyholders get Rs 768.6 cr in bonus

Mumbai, Jun 20 (PTI) PNB Metlife on Tuesday declared Rs 768.6 crore in annual bonus to policyholders for FY23, making the payout the highest till date by the insurer.

The insurer said the dividend for the year is 29 per cent 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, demonstrating its disciplined approach to investing for sustainable returns.

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.