Private insurer DHFL Pramerica Life Insurance (DPLI) today reported a profit after tax (PAT) of Rs 6.7 crore for the quarter ended June 30, 2015, against Rs 5.5 crore in the corresponding quarter of 2014-15.
The insurance company's industry ranking has also improved over the last quarter and now ranked at 12 among private life insurance companies, DPLI said in a release.
The New Business Premium of DPLI stood at Rs 157 crore against Rs 104 crore in the same quarter last year.
Gross Written Premium (GWP) also grew by 47 per cent to Rs 191 crore during the first quarter compared to Rs 130.7 crore in the same quarter last year.
"I am happy with our strong financial performance in Q1 of FY 2015-16. The results have been possible due to our emphasis on setting up differentiated distribution channels, introducing products that meet a variety of insurance needs of diverse customer segments and leveraging technology effectively to reach out and service our customers," DPLI Managing Director and CEO Anoop Pabby said.
Going forward, the company intend to pursue building on its strengths and focus on delivering a superior customer service experience, he added.
DPLI has 21 life insurance products 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, (PIIH), a fully-owned subsidiary of US-headquartered financial services leader Prudential Financial (PFI).
