DHFL Pramerica Life Insurance announces its financial results for Q3 FY2016-17

DHFL Pramerica Life Insurance announces its financial results for Q3 FY2016-17

Reports a robust 23.6% growth in New Business Premium (NBP) and 24% growth in Profit after Tax (PAT) over the same period last year

Gurgaon - DHFL Pramerica Life Insurance has announced its Quarterly Results for the period ended December 30, 2016. The Company continues its profitable growth journey during the third quarter of FY2016-17 and posted a notable New Business Premium growth of 23.6% over the corresponding period last year. During the quarter, DPLI's Profit After Tax (PAT) grew 24% to Rs 15.4 cr. over the corresponding period, last year.

Business Performance – Q3 FY2016-17

• New Business Premium of Rs 222.8 cr. against Rs 180.30 cr. in Q3 FY2015-16

• Profit of Rs 15.4 cr. (PAT) against Rs 12.4 cr. in Q3 FY2015-16

• Gross Written Premium (GWP) of Rs 293.5 cr., a 31% growth over Q3 FY2015-16 

Commenting on the Company’s performance, Mr. Anoop Pabby, Managing Director and CEO, DHFL Pramerica Life Insurance said, “DPLI has delivered strong results for the period as a result of continued focus on offering innovative & simplified insurance products to our customers. We continue to focus on ‘growth with profitability’ by investing in people, technology and a differentiated distribution approach.”.

The Company currently protects over 10 mn lives and now has 88 branch offices, across India. It has 28 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.

*includes commissions

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.

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 information 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 information, please visit www.dhfl.com.

About PFI

PFI, a financial services leader with more than ,1 trillion of assets under management as of June 30, 2016, 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 information, 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.