Insurer Rewards Employees with One-Month Performance Bonus

The National Insurance Co Ltd (NIC) is rewarding its employees with a “performance bonus” after experiencing increased profitability.

The company, formerly known as BAI, will grant this bonus to approximately 250 employees, which equates to one month of their basic salary.

Additionally, the company’s agents will also receive a performance-based bonus.

These details were confirmed by Rishi Sookdawoor, the Chief Operating Officer of the NIC.

In terms of financial performance, the NIC generated a turnover of Rs 5.8 billion, marking a significant increase of 173%.

The net profits as of June 30, 2023, were Rs 385 million, representing a 74% increase from the previous year.

The company’s claims totaled Rs 1.85 billion, a 15% rise compared to last year. With total assets of Rs 14.7 billion, the NIC ranks 30th among the top 100 companies in the country.

Source: L’Express