DHFL Pramerica Life Insurance announces its financial results for H1 FY 2017-18

Reports a robust 85% growth in New Business Premium (NBP) and 139% growth in Profit after Tax (PAT) over the same period last year

Gurgaon: DHFL Pramerica Life Insurance Company Ltd. (DPLI) announced its results for the half year ending September 30, 2017 with a New Business Premium of Rs. 647 cr. The Company was the fastest growing in the life insurance industry with a growth of 85% over the corresponding period last year. During the period, DPLI’s Profit After Tax (PAT) grew 139% to Rs. 46.8 cr. over the same period last year.

Business Performance – H1 FY 2017-18

• New Business Premium of Rs. 647 cr. against Rs 350 cr. in H1 FY 2016-17
• Gross Written Premium (GWP) of Rs. 803 cr.,76% growth over H1 FY 2016-17
• Profit of Rs. 46.8 cr. (PAT) against Rs 19.6 cr. in H1 FY 2016-17; growth of 139%
• Opex to New Business Premium ratio at 56% compared to 60% in H1 FY 2016-17

Commenting on the Company’s performance, Mr. Anoop Pabby, Managing Director & CEO, DHFL Pramerica Life Insurance, said, “We are delighted by the performance of DPLI, not only on financial parameters but also on business quality and customer orientation. With a PAT growth of 139% and 13th Month persistency ratio at 75% in H1 FY 18, our continued focus on building quality business through a sharply segmented and differentiated approach is producing better than planned results on all fronts. At 85% growth on top-line, we are the fastest growing life insurance company in the industry. Our reach was further strengthened during this period as we signed a Bancassurance tie-up with Dhanlaxmi Bank, a dominant South based bank.”

“Our protection focus is underlined by the fact that we now protect over 17 million lives in our portfolio.DPLI will continue to sharpen its approach in enhancing quality of advice in its pursuit to become one of the most preferred life insurance partner for customers as well as distributors,” Mr. Pabby added.

The Company currently protects over 17 million lives and now has 108 branch offices across India. It has 30 life insurance products and six riders in its products basket, fulfilling a gamut of life insurance needs from child’s future protection to retirement in its portfolio.

About DHFL Pramerica Life Insurance(DPLI)

DPLI is a joint venture between DHFL Investments Limited (DIL), a wholly-owned subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL), one of India’s largest housing finance companies (the second largest in the private sector) 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.

DPLI 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 for Indians to own a home of their own. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the company is CARE Triple A rated and reckoned as one of India’s leading financial institutions with a large presence across the country, in addition to representative offices in Dubai and London.

Throughout its years of growth, DHFL has stayed true to its core vision of financial inclusion, especially to the low and middle income customers across India. 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 a respected and trusted financial services company in India with a concerted focus towards enabling home ownership to the low and middle income customer. For further inion, please visit www.dhfl.com

About PFI

PFI*, a financial services leader with ,1.334 trillion of assets under management as of June 30, 2017, has operations in the United States, Asia, Europe and Latin America. Prudential’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. Prudential International Insurance Holdings & Prudential Financial Inc. of the United States are not affiliated with Prudential Plc, a Company incorporated in the United Kingdom. In the U.S., PFI’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more inion, please visit www.news.pramericafinancial.com

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