Financial Daily from THE HINDU group of publications
Saturday, Jul 26, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 26, 2003 |
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Money & Banking
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Life Insurance Tata AIG declares 4 per cent bonus Our Bureau
Mumbai , July 25 TATA AIG Life Insurance Company Ltd has announced a reversionary bonus of 4 per cent of the sum assured for its customers, for the financial year 2002-03. The bonus is applicable for eligible participating plans, reaching their first and second policy anniversary, said a press release. The reversionary bonus declared by Tata AIG, was on the "sum assured or face value" of the policy, and not on the premium paid and on a compounded basis, the release added. "We are proud to announce one of the highest bonuses among the private insurance companies for the second consecutive year. This was achieved in a falling interest rate scenario and is a testament to the commitment that we make to all our policy-holders," said the release quoting Mr Ian J. Watts, Managing Director, Tata AIG Life Insurance Company Ltd.
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