Money & Banking

DHFL Pramerica Life net up 24% in Q3

K. R. Srivats New Delhi | Updated on January 12, 2018 Published on January 17, 2017

DHFL Pramerica Life Insurance (DPLI), a private life insurer, has reported a net profit of Rs 15.4 crore for third quarter ended December 31,2016.

This represents a 24 percent increase over the net profit of Rs 12.4 crore recorded in the same quarter in previous fiscal.

For the quarter under review, new business premium grew 23.6 per cent at Rs 222.8 crore (Rs 180.30 crore).

Gross written premium registered 31 per cent increase to touch Rs 293.5 crore.

Commenting on the company's financial performance, Anoop Pabby, Managing Director & CEO, DPLI, said that DPLI has delivered strong results for the period as a result of "continued focus on offering innovative and simplified insurance products to our customers ".

"We continue to focus on 'growth with profitability' by investing in people, technology and a differentiated distribution approach", he added.

It may be recalled that US-based financial services major Prudential Financial Inc had in October last year raised its stake in DPLI to 49 per cent from 26 per cent earlier.

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Published on January 17, 2017
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