DHFL Pramerica Life Insurance announces its financial results for H1 FY 2015-16

Reports a robust 44% growth in New Business Premium (NBP) and 71% growth in Profit after Tax (PAT) over the same period last year

Gurgaon - DHFL Pramerica Life Insurance Company Ltd. (DPLI) has announced the results for the half year ending September 30, 2015. The Company recorded a sustained profitable growth during the period, garnering Rs. 322 cr. in New Business Premium, a remarkable 44% increase over the corresponding period last year. During the period, DPLI's Profit After Tax (PAT) grew 71% to Rs. 19.3 cr. over the same period last year.

Financial Highlights - H1 FY 2015-16

   New Business Premium of Rs 322 cr. against Rs 223 cr. in H1 FY 2014-15

   Gross Written Premium (GWP) of Rs 405 cr., a 42% growth over H1 FY 2014-15

   Profit of Rs 19.3cr. (PAT) against Rs 11.3 cr. in H1 FY 2014-15

   Expense^* to New Business Premium ratio down to 54% compared to 61% in H1 FY 2014-15

Commenting on the Company's performance, Mr. Anoop Pabby, DPLI's Managing Director & CEO said, "DPLI continues to demonstrate impressive growth in FY 2015-16 fuelled by a differentiated business strategy focused on building channels that seek to target affinity customers through bespoke products and services. The unique distribution mix of the Company, including the strong network of DHFL branches, combined with its well-defined strategy of segmenting and targeting specific customer groups such as the armed forces, para-military personnel and teachers, has contributed significantly to our sustained business performance".

During the first half of the current fiscal year, DPLI has deepened its reach in the country by taking life insurance offerings to customers in lesser penetrated markets of Dimapur (Nagaland), Leh (Jammu & Kashmir) and Dibrugarh (Assam). The Company currently has over 70 branches across India and is in the process of expanding to more locations.

DPLI proudly protects over 5 million lives. It has 22 life insurance products in its portfolio that fulfil a gamut of life insurance needs from child's future protection to retirement.
*includes commissions

About DPLI

DHFL Pramerica Life Insurance Company Limited (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 details 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 500 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 details, 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 ,1.204 trillion of assets under management as of March 31, 2015, 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.

^*Pramerica and the Rock Logo are proprietary service marks and may not be used without the permission of the owner