DHFL Pramerica Life Insurance (DPLI) today reported 24 percent growth in profit after tax (PAT) at Rs 15.4 crore during the quarter ending December 31, 2016.
The company's PAT stood at Rs 12.4 crore during Q3 of 2015-16, the private insurer said in a release issued here.
Its New Business Premium grew by 23.6 percent at Rs 222.8 crore during the third quarter this year against Rs 180.30 crore in Q3 FY2015-16.
"We have 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," DPLI Managing Director and CEO Anoop Pabby said.
The company currently protects over 10 million lives and now has 88 branches across India.
It has 28 life insurance products and six riders in its products basket, 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 (DHFL) and Prudential International Insurance Holdings (PIIH), a fully-owned subsidiary of Prudential Financial Inc (PFI), a financial services leader headquartered in the US.
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