DHFL Pramerica Life FY16 Profit Rises 27% To Rs. 51 Crore

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Mumbai: Private insurer DHFL Pramerica Life Insurance (DPLI) on Thursday reported a 27 per cent growth in profit after tax at Rs. 50.8 crore for 2015-16.

The company’s PAT had stood at Rs. 39.9 crore in 2014-15 fiscal, DPLI said in a release here.

Gross Written Premium (GWP) grew by 25 per cent to Rs.920.2 crore during last financial year as against Rs. 735.1 crore last year.

The New Business Premium (NBP) also grew by 25 per cent to Rs. 727 crore in 2015-16, from Rs. 579.6 crore in FY15.

The company’s asset under management went up by 32 per cent to Rs. 2,072 crore in 2015-16 from Rs. 1,574 crore last year.

“The last two years have been transformational for the firm and the Board and shareholders are greatly pleased by the company’s performance,” DPLI’s MD and CEO Anoop Pabby said.

“Our focus on creating organisation wide customer centricity, strengthening businesses, enhancing revenue and distribution, and managing costs efficiently has put us on the road to sustainable profitable growth in the last three years,” Pabby said.

In 2016-17, the company will invest in technology and digital platforms to deliver seamless customer experience across all our distribution and customer touch points, Pabby said.

The company has 78 branches across the country. It has 24 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.

DPLI is a joint venture between Dewan Housing Finance Corporation and Prudential International Insurance Holdings, a fully-owned subsidiary of US-headquartered Prudential Financial Inc.