DLF Primerica Life Insurance Co Ltd (DPLI) plans to start its operation from September, current fiscal.

DPLI is a joint venture between DLF, a leading real estate development company in India, and Prudential Financial of the United States.

The company would begin its operation with a paid-up capital of Rs 110 crore. Of the total paid-up capital, DLF would contribute 74% and remaining would come from its foreign partner Prudential Financial.

DLF and PFI have also applied to Sebi to launch an asset management company--- DLF Pramerica Asset Managers.

According to market analysts, the combination of PFI's insurance expertise and the DLF brand would provide the strongest possible foundations for DLF Pramerica to succeed in India's rapidly growing life insurance market.

Today, AEGON Religare Life Insurance Company has received IRDA approval to launch operations in the country