DHFL PRAMERICA LIFE INSURANCE ACHIEVES BREAK-EVEN

Posts maiden profit in its 6th year of operations

Records growth of 25% in New Business Premium, compared to a negative growth of -4% recorded by private life insurance players

Renewal premium up by 40% from FY 2012-13

New Delhi - DHFL Pramerica Life Insurance Co. Ltd. (DPLI) has achieved break-even in FY 2013-14, its 6th year of operations. For the first time, the Company reported a small net profit, making it one of the fastest companies to break-even in the Life Insurance industry. DPLI recorded a growth of over 29% in Gross Written Premium at INR 306 crores in 2013-14 and added over 4 lakh customers to its fast growing customer base.

Commenting on the results, Mr. Anoop Pabby, MD & CEO, DPLI said, "I am pleased to announce that DHFL Pramerica has achieved a break-even in just 6 years of its operations. In an industry challenged by falling margins, coupled with reduction in New Business Premium, this is a significant achievement. We are very encouraged by our results and view this performance as the beginning of our journey to greater success and profitability."

Talking about the way forward, Mr. Pabby said, "Our strategy to cater to affinity groups through a dedicated sales force, and customized products and processes is well thought out and would continue to drive our investments in innovatively approaching carefully crafted affinity segments. Alongside, we will continue to lay emphasis on designing innovative products and enhancing our quality of advice and service delivery in our quest to become the most preferred life insurance partner for our customers and distributors."

DPLI is one of the fastest growing Life Insurance Companies in India today. Since its first full year of operations (FY 2009-10), it has shown a Compounded Annual Growth Rate (CAGR) of 65% in terms of Gross Written Premium and 46% in terms of New Business Premium collected. As of March 31, 2014, the Company’s Total Sum Assured (SA) was around 6600 crores, and Total Assets Under Management (AUM) stood at Rs. 721 cr. DPLI has a healthy solvency ratio at 537% as against the regulatory requirement of 150%

About DHFL Pramerica Life Insurance (DPLI)

DPLI is a joint venture between Dewan Housing Finance Corporation Ltd. (DHFL), India’s second largest private sector housing finance company and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. DPLI represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. The life insurance joint venture agreement between the two partners was signed in July 2013.

DHFL Pramerica Life Insurance, which was earlier known as DLF Pramerica Life Insurance started operations in India on September 01, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. For further inion on the Company, please visit www.dhflpramerica.com.

About DHFL

DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial access to the lower and middle income segments of the society. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the Company is one of India’s leading mortgage finance institutions with presence in over 450 locations across the country, in addition to representative offices in Dubai and London.

All through its years of growth, DHFL has stayed with its core vision of financial inclusion. The Company’s wide network, coupled with insights into local customer needs has enabled the Company to provide meaningful financial access to customers even in India’s smallest towns. With a strong business foundation, an extensive distribution network, proven industry expertise and a deep understanding of the Indian customer, DHFL is one of India’s largest financial services companies. For further inion, please visit www.dhfl.com.

About PFI

Pramerica* is a trade name used by Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States, and its affiliated companies in select countries outside the United States. PFI (NYSE: PRU), a financial services leader with more than ,1 trillion of assets under management as of December 31, 2013, has operations in the United States, Asia, Europe and Latin America. PFI’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., PFI’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.