Business Standard

DLF Pramerica to infuse Rs 150-200 cr by next year

Related News

Private sector life insurer DLF Pramerica, promoted by realty firm DLF and US-based Prudential Financial, will infuse Rs 150-200 crore by 2010 in order to maintain its solvency ratio and to develop infrastructure.

At present, the company’s capital base stood at Rs 162.30 crore. Maninder Sood, senior vice-president (Head Agency Sales), said, “We had recently infused Rs 25 crore and have plans to infuse Rs 150-200 crore more in the next one year. We are doing well and plan to further increase our distribution network, especially in the rural areas.”

The company’s distribution network is spread over 25 cities across Delhi, NCR, Punjab and Haryana. Recently, it launched operations in Gujarat also.

“The growth plans are intact and we have plans to add another 25 branches across these states, taking the total tally to 50 by the end of this financial year,” Sood said. He added that the company had plans to expand its footprint to Uttar Pradesh, Kerala, Maharastra, Tamil Nadu, Andhara Pradesh over two to three years.

The company that began operation in September 2008 has collected a premium of Rs 9.86 crore and has 7,067 policy holders as on July 31, 2009.

At present, the company has nine products under its portfolio. The company, which has 544 employees and 492 life associates, is planning to hire 600 agents.

Life is the 74:26 joint venture between DLF and of the USA.

 

Read more on:   
|

Read More

Going out of Citi Suvidha? Keep higher balance

Citi India’s ‘Suvidha’ salary account holders will need to maintain a monthly net relationship value of Rs 1 lakh if their salary is no longer ...

Quick Links

More news from Finance Rss icon

ECB proceeds can be kept as fixed deposits for 6 months

The Reserve Bank of India (RBI) has eased the norms for parking external commercial borrowings (ECBs) to allow companies to keep them as fixed ...

RBI stresses on pricing for infrastructure services

Says this is necessary so that the project is viable and is remunerative for service providers

RBI cautions against credit card frauds in its name

The Reserve Bank of India has cautioned customers against fraudsters issuing credit card in the banking regulator's name and duping people

Back to Top