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Bajaj Allianz Life declares biggest bonus ever: Who will get payout
Bajaj Allianz Life declares biggest bonus ever: Who will get payout

Business Standard

time07-05-2025

  • Business
  • Business Standard

Bajaj Allianz Life declares biggest bonus ever: Who will get payout

Bajaj Allianz Life Insurance has declared a bonus of Rs 1,833 crore for FY25, marking the highest such payout by the company. It's a 32 per cent jump from last year's bonus of Rs 1,383 crore and will benefit more than 1.171 million 'participating' policyholders. What the Bonus Means Participating or 'with-profit' policies share a portion of the insurer's surplus with policyholders in the form of bonuses. According to Bajaj Allianz Life, FY25 bonus will apply to traditional participating policies in force as of March 31, 2025. Plans Covered Under the Bonus Bajaj Allianz Life Ace Bajaj Allianz Life Ace Advantage Bajaj Allianz Life Elite Assure Additionally, a special reversionary bonus of 5 per cent, amounting to Rs 206 crore, has been announced for policyholders of high-equity allocation products. These include: Bajaj Allianz Life ACE - Wealth Option Bajaj Allianz Life Flexi Income Goal - Enhanced Benefit When will policyholders receive the bonus? According to the insurer, bonuses are usually paid out at the time of policy maturity or exit. For select plans, cash bonuses may be distributed annually on the policy anniversary, depending on the policy terms. 'We are happy to announce our highest-ever annual participating (PAR) bonus of Rs 1,833 crore this year. It highlights the strength of our prudent investment strategies and strong financial foundation,' said Tarun Chugh, managing director and chief executive officer of Bajaj Allianz Life Insurance. The company said it has an individual claim settlement ratio of 99.29 per cent and a solvency ratio of 359 per cent as of March 31, 2025. It has more than 38.5 million customers and assets under management exceeding Rs 1.23 trillion.

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