Future Generali reports a premium growth of 33% in FY18-19
• Revenue for FY18-19 grew by Rs. 650 crore to Rs. 2,601 crore
• Net Profit grew by 50% to Rs.118 crore in FY18-19
Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail game-changers Future Group and global insurer Generali has reported financial results with a Net Profit of Rs.118 crore and Gross Written Premium (GWP) rising to Rs. 2,601 crore in FY18-19. New technology innovations, better customer experience, increased contribution from retail lines of business, have been the key drivers towards the company’s growth.
Future Generali India Insurance serviced more than 18 lakh policies in FY18 -19.
Dr. Shreeraj Deshpande (Principal Officer & CEO (Officiating), Future Generali India Insurance Pvt Ltd. said, "Future Generali India Insurance has witnessed a growth of 33%, this shows our long -term commitment approach towards our customers by resolving thier queries timely with advanced tech solutions. Going forward, we aim to be at the forefront of technology investments. We plan to continue building our distribution network of agents, expand our geographical boundaries, and are open for new partnerships with non-traditional players (e-commerce, payments service providers, etc)."
Highlights of Q4 FY19 and FY 18-19:
| In Rs. Crore |
FY 18-19 |
FY 17-18 |
| Gross Premium |
2,601 |
1,951 |
| PBT |
103 |
79 |
| AUM |
3,629 |
2,992 |
About Future Generali India Insurance Company Limited
Future Generali India Insurance Company Limited is a joint venture between Future Group – the game changers in Retail Trade in India and Generali – a 188 years old global insurance group featuring among the world’s 50 largest companies*. The company was incorporated in September 2007 with the objective of providing retail, commercial, personal and rural insurance solutions to individuals and corporates to help them manage and mitigate risks.
Future Generali India has been aptly benefitting from the global Insurance expertise in diverse classes of products of Generali Group and the Indian retail game changer Future Group. Having firmly established its credentials in this segment and effectively leveraging on the skill set of both its JV partners, Future Generali India has evolved to become a Total Insurance Solutions Company.
*As per Fortune Global 500 Ranking (2017)
About Generali Group
Generali is an independent Italian insurance group, with a strong international presence. Established in 1831, it is one of the largest global insurance providers, present in 50 countries and with 2018 total premium income of more than € 66 billion. With nearly 71,000 employees serving 61 million customers, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe as well as in Asia.
