DHFL Pramerica Life Insurance records 40% growth in Renewal Premium (RP) collection

India Infoline News Service | Mumbai |

The Company has collected Rs. 98.9 cr. in NBP, which is a growth of 137% over the same quarter last year.

 DHFL Pramerica Life Insurance Co. Ltd. (DPLI) has reported robust growth in March 2014. The Company has collected Rs. 55.6 cr. of New Business Premium (NBP), which is a 224% growth over March 2013.  Renewal Premium (RP) collection at Rs. 18.3 cr. has also seen a growth of 40% over the same period last year.
 
The first quarter of 2014 has been particularly good for DPLI. The Company has collected Rs. 98.9 cr. in NBP, which is a growth of 137% over the same quarter last year. RP collection stood at Rs. 40.4 cr. in the quarter, which is a growth of 32% over Q1 2013.
              
Commenting on the Company’s positive performance, Anoop Pabby, DPLI’s MD & CEO said, “I am very pleased by our performance in Q1. This is only the beginning of our journey to greater success and profitability. Over the last three months, approx. 2 lakh customers have joined the DPLI family, which is an encouraging sign for all of us. Our new shareholder, Dewan Housing Finance Corporation Ltd. (DHFL) has a large distribution base that provides vast scope for reaching potential customers across India and our focus will be on maximizing the benefits and scale that the new shareholder partnership brings. Alongside, we will continue to lay emphasis on designing innovative products and enhancing quality of advice and service delivery in our quest to become the most preferred life insurance partner for our customers and distributors.”
 
“I am confident that we will continue to keep up the momentum and achieve a lot for the Company in the coming quarters. My aim is to see a profitable DPLI in 2014-2015, and then among the top 10 players in the insurance industry in the next few years,” Pabby added.
 

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