DHFL PRAMERICA LIFE INSURANCE GROWS AT 100% IN NEW BUSINESS PREMIUM IN Q1 FY2017-18 OVER SAME PERIOD LAST YEAR

27 July 17

  • DHFL Pramerica Life Insurance is the fastest growing private life insurance company in India

  • The Company soared to 8th spot amongst the private life insurance companies in New Business Premium (Individual and Group Business segments) in YTD FY2017-18 from 20th spot in FY2013-14

Gurugram:DHFL Pramerica Life Insurance Co. Ltd. (DPLI) reported a robust growth in New Business Premium at 100% in Q1 FY2017-18 over Q1 FY2016-17, posting a Profit After Tax (PAT) of Rs. 16.90 cr. against Rs. 9.10 cr. in Q1 FY2016-17.

Business performance - FY2017-18

  • New Business Premium (NBP) of Rs. 298.10 cr. in Q1 FY 2017-18 up from Rs. 148.80 cr. in Q1 FY2016-17; 100% growth

  • Gross Written Premium (GWP) of Rs. 364.60 cr. up from Rs. 194 cr. in Q1 FY2016-17, 88% growth

  • AUM of Rs. 3003.7 cr. up from Rs. 2145.7 cr. in Q1 FY2016-17; 40% growth

The overall market share of DPLI has also climbed from 1.7% in FY2016-17 to 3.0% in Q1 FY2017-18 amongst private life insurance players, according to the data released by Life Insurance Council for June2017.

Commenting on the company’s performance, Mr. Anoop Pabby, Managing Director and CEO, DHFL Pramerica Life Insurance said, “We have started the new financial year on a strong note and the company has reported fantastic results across growth and profitability metrics in Q1. Achieving these results is a validation of DPLI’s unique & differentiated strategy that focuses on building segmented distribution channels, developing relevant and innovative products, and investment in technology & digital platforms to address the fast evolving customer needs.”

The Company currently protects over 15 million lives and now has 103 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.

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 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 ,1.299 trillion of assets under management as of March 31, 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 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.