DHFL Pramerica Life Insurance Co Ltd (DPLI) reported a robust growth of 21% in FY 2016-17, posting a profit after tax (PAT) of Rs 61.4 crore against Rs 50.8 cr in FY2015-16.
Business performance – FY 2016-17
The company collected New Business Premium (NBP) of Rs 874 cr in FY 2016-17, up from Rs 727 cr in FY 2015-16; 20% growth over FY 2015-16. Gross Written Premium (GWP) of Rs 1142 cr in FY 2016-17, up from Rs 920 cr in FY 2015-16, a growth of 24% over last year. AUM of Rs 2707 cr in FY 2016-17, up from Rs 2072 cr in FY 2015-16; a growth of 31%.
Commenting on the company’s performance, Anoop Pabby, Managing Director & CEO, DHFL Pramerica Life Insurance, said, “During the year, DPLI has delivered a strong performance across all metrics of quality, customer centricity, growth and profitability. The results are a reflection of our commitment towards building a customer-centric culture, a sharply segmented approach to distribution, investments in Digitization & Technology and launch of innovative & relevant products. These initiatives have enhanced customer experience & have helped us remain a significant player in the Industry.”
“In FY 2017-18, we will continue the emphasis on enhancing quality of advice in the quest to become the most preferred life insurance partner for our customers and partners,” Pabby added. The company currently protects over 12 million lives and now has 102 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.