DLF Pramerica Life Insurance to start operation by Dec-end

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New Delhi, Jun 30 (UNI) DLF Pramerica Life Insurance Co Ltd (DPLI) today said it plans to launch its life insurance business and commence sales by this year-end.

The firm, a joint venture between realty major DLF and the US-based financial services provider Prudential Financial Inc (PFI), has received an R3 licence from the Insurance Regulatory Authority of India (IRDA) which will allow it to start life insurance operations in the country.

''We are delighted that DLF Pramerica Life Insurance has achieved this important milestone in the process of launching its business in India,'' DLF Vice Chairman Rajiv Singh said.

He said with the receipt of this license, DPLI expects to launch its life insurance business and commence sales in the third-quarter of this year.

The company, based in Gurgaon, intends to raise the standards of life insurance in India by providing high quality service and relevant products to our customers in a cost-effective manner, DPLI Chief Executive Officer Kapil Mehta said.

The formation of DPLI to offer life insurance products and services in India was announced by DLF and PFI in March 2007.

UNI SBA AK HT1705

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