CHANDIGARH:  Private life insurer DLF Pramerica today announced that it will double the number of its branches to 60 in a year to garner an insurance premium of Rs 60 crore.

"We will open 30 more branches within next year...which will help us raise our premium collection to Rs 60 crore from Rs 30 crore in December this year," Kapil Mehta , company Managing Director and CEO told reporters here today.

In addition to this, it will introduce six non-unit linked products to widen its product portfolio.

"We already have enough number of unit-linked products for our customers and we now plan to introduce traditional products focusing on providing death protection," he said.

The company will look at opening more branches in tier III and tier IV towns of Punjab, he said.

Out of the total 29 offices, the company has 19 branches in Punjab alone, which contribute 70 % to the total number of policies sold by the firm in the country.

Besides, the company is also looking at opening branches in Gujarat under the next phase of its expansion plans.

DLF Pramerica Life insurance is a joint venture between realty company DLF and Prudential International Insurance Holdings.