DHFL Pramerica Life Insurance announces its financial results for Q3 FY2017-18

DHFL Pramerica Life Insurance announces its financial results for Q3 FY2017-18

Reports a robust 76% growth in New Business Premium (NBP) and 112% growth in Profit after Tax (PAT) over the same period last year (Apr-Dec)

Gurgaon: DHFL Pramerica Life Insurance has announced its Quarterly Results for the period ended December 31, 2017. The Company continues its profitable growth journey during the third quarter of FY2017-18 and posted a notable New Business Premium growth of 61% over the corresponding quarter last year. During the quarter, DPLI's Profit After Tax (PAT) grew 78% to Rs 27.3 cr. over the corresponding quarter, last year.

Business Performance – Q3 FY2017-18

>> New Business Premium of Rs 359 cr. against Rs 223 cr. in Q3 FY2016-17; a growth of 61%

>> Profit of Rs 27.3 cr. (PAT) against Rs 15.4 cr. in Q3 FY2016-17; a growth of 78%

>> Gross Written Premium (GWP) of Rs 457 cr., a 56% growth over Q3 FY2016-17

Commenting on the Company’s performance, Mr. Anoop Pabby, Managing Director and CEO, DHFL Pramerica Life Insurance said, “We are delighted with our business results this quarter. A growth of 78% in PAT & a 61% jump in the New Business Premium is a testimony of our sharply segmented distribution strategy amplified with our customer centric approach to provide relevant protection solutions in the market place. We digitized some of our key business processes to provide an agile & dynamic customer experience as well. We forged a partnership with Lakshmi Vilas Bank & Dhanlaxmi Bank for distribution of DPLI’s innovative product offerings supported by seamless customer service experience. DPLI today protects over 20 Mn lives & has a Pan India footprint of 114 Branch offices.”

It has 32 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 ,1.366 trillion of assets under management as of September 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 a_liated 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 http://www.prudential.com

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