DHFL Pramerica Life Insurance (DPLI) today reported 21 per cent growth in profit after tax (PAT) at Rs 61.4 crore for the fiscal year 2016-17.
The private insurer's PAT stood at Rs 50.8 crore in FY16.
Gross Written Premium (GWP) grew 24 per cent to Rs 1,142 crore in FY17 from Rs 920 crore in the previous financial year, DPLI said in a release here.
Collected New Business Premium (NBP) went up by 20 per cent to Rs 874 crore from Rs 727 crore in FY16.
The company's asset under management (AUM) grew 31 per cent to Rs 2,707 crore in 2016-17 from Rs 2,072 crore in the last financial year.
"During the year, DPLI 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 digitisation and technology and launch of innovative and relevant products," DPLI Managing Director and CEO Anoop Pabby said.
The company currently protects over 12 million lives and has 102 branch offices across India.
It has 28 life insurance products and six riders in its product basket, fulfilling a gamut of life insurance needs
- from a child's future protection to retirement.
DPLI is a joint venture between DHFL Investments, a wholly-owned subsidiary of Dewan Housing Finance Corporation (DHFL), and Prudential International Insurance Holdings (PIIH), a fully-owned subsidiary of Prudential Financial (PFI) which is headquartered in the US.
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