DHFL Pramerica Life Insurance' New Business Premium up by 387% to Rs 223 Crore for Half Year ending September 30th 2014

Overall half yearly profit after tax stands at Rs 11.3 Crore for period ending September 30th vis-α-vis a loss of Rs 52.8 cr. in the same period, last year.

Gurgaon û DHFL Pramerica Life Insurance Ltd (DPLI) announced the results for the half year ending, September 30, 2014. DPLI garnered Rs 223 Crore in New Business Premium in the first half of the current fiscal year, clocking growth a robust growth of 387 per cent over the corresponding period, last year.

The consolidated Net Profit After Tax (PAT) for the quarter ending September 30, 2014 stood at Rs 5.8 Crore against a loss of Rs 24.9 cr. for the corresponding period, last year.

The consolidated Net PAT for the half-year ending September 30, 2014 stood at Rs 11.3 Crores against a loss of Rs 52.8 cr. for the corresponding previous period.

Commenting on the CompanyÆs positive performance, Mr. Anoop Pabby, DPLIÆs Managing Director & CEO said, ôI am very pleased with our performance in the first half of the financial year 2014-15. This is only the beginning of our journey to greater success and profitability. We have seen excellent progress over the past 6 months on both the product and distribution front, which has catapulted our customer base to over 1 million Lives. ô

ôAn unrelenting focus on meeting customer needs has been at the core of our customer centric philosophy and enabled us to achieve our growth trajectory. DPLI will continue its emphasis on enhancing quality of advice in its quest to become the most preferred life insurance partner for its customers and distributors.ö Mr. Pabby added.

About DHFL Pramerica Life Insurance (DPLI)

DPLI is a joint venture between Dewan Housing Finance Corporation Ltd. (DHFL), IndiaÆs 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 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 to the lower and middle income segments of the society. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the Company is one of IndiaÆs leading mortgage finance institutions with presence in over 450 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 CompanyÆs wide network, coupled with insights into local customer needs has enabled the Company to provide meaningful financial access to customers even in IndiaÆs 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 IndiaÆs largest financial services companies. For further information, 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 ,1.1 trillion of assets under management as of March 31, 2014, has operations in the United States, Asia, Europe and Latin America. PFIÆs 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., PFIÆs 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.