DHFL Pramerica Life Insurance Q4FY18 and FY18 Annual Results
* Fastest growing Life insurance company in FY 18 with 67 % YOY growth, Individual Business grew at 72% and Group Business grew at 65%
* Recorded a73% growth in Profit after Tax over the same period last year(FY18 over FY17)
* The company ranks 9 in FY18, amongst private life insurance companies - up from rank 13 in FY17(Source: Life Council of India)
May 03, 2018, Chennai: DHFL Pramerica Life Insurance (DPLI), one of the leading life insurance companies in India, has announced itsQ4FY18 and FY18 Annual Resultsfor the period ended March 31, 2018. DPLI has notched a Profit after Tax (PAT) of INR 106 cr. in FY18 registering a growth of 73%over FY17. DPLI’s Profit before tax (PBT) stands at INR 122 cr. with an AUM of INR 3,702 cr.
Business Performance –FY2017-18
* Collected New Business Premium (NBP) of INR 1,450 cr. in FY 2017-18
* Gross Written Premium (GWP) of INR 1,844 cr.in FY 2017-18
* A healthy 45% growth in Renewal Premium collection, leading to a 13th month persistency of 80%
* Individual business grew at 72% and Group Business grew at 65%
* PBT grew by 73% from INR 70 cr. to INR 122 cr.
Speaking on the company’s performance during the year, Mr. Anoop Pabby,Managing Director and CEO, DHFL Pramerica Life Insurance said, “We are delighted with our business performance this year with a stellar growth of 73% in PAT &a 67% growth in New Business Premium making us the fastest growing Life Insurance Company in FY18. A uniquely segmented and differentiated approach to business is the hallmark of DPLI.An unrelenting focus on differentiation, customer centricity & providing customized product & service solutions has been the core driver of growth. A 67% growth rate in New Business Premium (NBP) of DPLI as against the industry growth of 18% is a clear demonstration of our agility in leveraging the right set of opportunities in the market place. Our 13th month persistency stands tall at 80% & so is our Claims paid ratio of 97% that firmly pegs DPLI amongst the Top players in the industry”
“In FY 2018-19, we will continue our efforts on digital transformation, introducing relevant & differentiated products, invest on digital & technology platforms to provide a consistent, new age, differentiated & superlative experience to our customers.” Mr. Pabby added.
DPLI has been steadily gaining leadership position in the life insurance industry. Spread across the country with 117 branches in 29 states with close to 10,000 agents, the company currently protects over 21 million lives. As of today,the company has 34 life insurance products and 6 riders in its product basket, fulfilling a gamut of life insurance needs including child’s future, protection and retirement planning.