1800 220 233

  • Quick Pay
  • Contact US
    • WhatsApp

      Say Hi to +91.7678006000

    • Email

      Write to fgcare@futuregenerali.in

    • Phone (7am to 10pm)

      Call us on 1800 220 233 / 1860 500 3333

  • Login
    • Customer log in Claim, Renew and Manage your policy
    • Partner log in Agents, Brokers, Dealers log in
    • eCare log in Group health customers log in
    • Banca log in UCO customers log in
  • Claim
    • Report A Claim
    • Motor Claim
    • Health Claim
    • Travel Claim
    • Accident Claim
    • Other Claim
    • Crop Claim
    • Claim Process
    • Motor Claim
    • Health Claim
    • Travel Claim
    • Accident Claim
    • Other Claim
    • Claim Tracker
    • Motor Claim
    • Crop Claim
  • BUY
    • HEALTH INSURANCE
    • FG Health Absolute
    • FG Health Elite
    • Health Total
    • Hospital Cash
    • Advantage Top Up
    • Motor Insurance
    • Car Insurance
    • Third Party Insurance
    • Travel Insurance
    • Worldwide & Schengen
    • Student Travel
    • Lifestyle Insurance
    • Cover for Sports
    • FG Dog Health Cover
    • Cyber Risk
  • Renew
    • Health Insurance
    • Health Insurance
    • Personal Accident
    • Motor Insurance
    • Bike Insurance
    • Car Insurance
  • Assistance
    • Customer Service
    • Contact Us
    • Locators
    • Forms and Download
    • Enquiry Form
    • Grievance Redressal
    • Roadside Assistance
Close

1800 220 233

  • Quick Pay
  • Contact Us
    • WhatsApp

      Say Hi to +91.7678006000

    • Email

      Write to fgcare@futuregenerali.in

    • Phone (7am to 10pm)

      Call us on 1800 220 233 / 1860 500 3333

  • Login
    • Customer log in Claim, Renew and Manage your policy
    • Partner log in Agents, Brokers, Dealers log in
    • eCare log in Group health customers log in
    • Banca log in UCO customers log in
Claim
Back

Report A Claim

  • Motor Claim
  • Health Claim
  • Travel Claim
  • Accident Claim
  • Other Claim
  • Crop Claim

Claim Process

  • Motor Claim
  • Health Claim
  • Travel Claim
  • Accident Claim
  • Other Claim

Claim Tracker

  • Motor Claim
  • Crop Claim
BUY
Back

HEALTH INSURANCE

  • FG Health Absolute
  • FG Health Elite
  • Health Total
  • Hospital Cash
  • Advantage Top Up

Motor Insurance

  • Car Insurance
  • Third Party Insurance

Travel Insurance

  • Worldwide & Schengen
  • Student Travel

Lifestyle Insurance

  • Cover for Sports
  • FG Dog Health Cover
  • Cyber Risk
Renew
Back

Health Insurance

  • Health Insurance
  • Personal Accident

Motor Insurance

  • Bike Insurance
  • Car Insurance
Assistance
Back
  • Customer Service
  • Contact Us
  • Locators
  • Forms and Download
  • Enquiry Form
  • Grievance Redressal
  • Roadside Assistance
Personal Products
  • Health
  • Motor
  • Travel
  • Home
  • Lifestyle
Commercial Insurance
  • Property Insurance
  • Marine Insurance
  • Engineering Insurance
  • Group Health Products
  • Liability Insurance
  • Event Insurance
Rural & Social Insurance
  • PMFBY
  • Sukshma Hospi-cash
  • Cattle & Livestock Insurance
  • Sampoorna Suraksha
  • Pradhan Mantri Suraksha Bima Yojna
Our Blogs

Visit our blog to learn more about our latest news and activities.

Visit our Blogs
FAQ
  • Service
  • Product
  • Claim
SEE ALL FAQs
About Us
  • Our Company
  • Why Choose Us
  • Management
  • Financial Information
  • Media Center
Careers
  • Life at FGII
  • Why Work with Us
  • Current Openings
  • Campus Hiring
Our Blogs
  • Visit our Blogs

Generali to become majority shareholder in its Indian insurance joint ventures as the first international player to step-up to majority in both the Indian Life and P&C insurance sector

  1. Generali will become the majority shareholder of Future Generali India Insurance Company Limited and Future Generali India Life Insurance Company Limited
  2.  The move is in line with Generali’s ‘Lifetime Partner 24: Driving Growth’ strategy to strengthen its presence in fast-growing markets
  3. Follows the announcement in 2021 by the Indian Government to permit the increase of Foreign Direct Investment limit in the insurance sector from 49% to 74% 
  4. Strong market opportunity thanks to India being one of the fastest-growing economies in Asia: the size of the insurance market is around € 21 billion (March 2021), with an expected double-digit annual growth rate

Milan – Generali has signed agreements to become the majority shareholder in both its Life and P&C joint ventures in India. Both transactions are subject to the approval of relevant regulators. In the P&C business, Generali has agreed to acquire from Future Enterprises Limited 25% of the shares of Future Generali India Insurance (FGII) for a consideration of around € 145 million. After closing, Generali will hold a stake of around 74% in FGII. FGII is among the fastest-growing general insurance companies in the market with a diversified product and distributor portfolio; as of March 2021 (fiscal year-end for Indian insurance companies), it reported around € 450 million of premiums. 

 

Regarding the Life business, an agreement has been signed to acquire the entire stake (around 16%) held by Industrial Investment Trust Limited (IITL) in Future Generali India Life (FGIL) for a consideration of around € 26 million. FGIL reported around € 150 million of gross written premiums as of March 2021. In addition, Generali will subscribe to a preferential allotment of shares in FGIL (around € 21 million). As a result, following the closing of the transaction and completion of the preferential allotment, Generali will hold a stake of around 68% in FGIL, which may increase further to 71% by the end of 2022, following further preferential allotment of shares. 

 

The transactions are fully in line with the ‘Lifetime Partner 24: Driving Growth’ strategy, strengthening Generali’s position in fast-growing markets and confirms the Group’s commitment to deliver profitable growth whilst creating value for customers, consistent with Generali’s Lifetime Partner ambition. Generali is the first player among international insurers to step-up to a majority stake in both its Indian insurance Joint Venture companies since the new foreign ownership cap came into effect. Following the completion of all the 27/01/2022 PRESS RELEASE 2 www.generali.com components of the transaction, the total estimated impact on the Group’s Regulatory Solvency Ratio will be approximately -4 p.p. in 2022. 

 

Jaime Anchústegui Melgarejo, CEO International, Generali Group, said: “Increasing Generali’s stake in our Indian Life and P&C insurance businesses represents a further step ahead in our growth journey in this high potential market. With an expected double-digit annual growth rate, India’s insurance market offers considerable opportunities, and we look forward to deepening our presence in this geography, becoming Lifetime Partners to an increasing share of Indian customers.” 

 

Rob Leonardi, Regional Officer, Generali Asia, said: “We’re excited that we are now able to consolidate our position in our Life and P&C insurance businesses, as it has always been our intention to increase our presence in India. Once the transactions are completed, we plan to do so in a way that will create more value for our more than 4 million customers, agents, partners and distributors.” 

 

India is one of the fastest growing insurance markets in the world, with nominal GWP growth at 10%+ CAGR over 2022-2030. It is uniquely attractive, thanks to its high real GDP growth (8% YoY growth expected in 2021-2022, among the highest of south-eastern Asian countries), low insurance penetration levels (with GWP representing only 4.2% of GDP as at 2020) and private consumption and disposable incomes (expected to grow around 7% over the next 5 years ). 

 

Citigroup and Alvarez & Marsal acted as financial advisors to Generali on the transactions.

THE GENERALI GROUP

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 70.7 billion in 2020. With more than 72,000 employees serving more than 68 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Commitment to sustainability is one of the enablers of Generali’s strategy, inspired by the ambition to be the Lifetime Partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network.

Follow the stories of people like you also on our social networks

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Youtube
  • Whatsapp

OUR PRODUCTS

  • Health Insurance
  • Motor Insurance
  • Travel Insurance
  • Home Insurance
  • Lifestyle Insurance
  • Commercial Insurance
  • Social/Rural Insurance
  • PMFBY
  • Product List

ABOUT US

  • Company Overview
  • Management
  • About Group
  • Media Centre
  • Financial Information

FOR CUSTOMERS

  • Policy Wordings
  • Product Brochures
  • Proposal Forms
  • Grievance Redressal
  • Unclaimed Amount
  • Portability and Migration
  • Survey Limit
  • Glossary
  • Products Withdrawn
  • Nodal Officer
  • eNACH Registration
  • Pocket Clinic

LEGAL

  • Policies
  • Health Parameter Services
  • Disclosure on Stewardship
  • AGENTS
    • Corporate Agents
    • Individual Agents
    • Suspended Agents
    • Become an Agent
  • EXCLUSION
    • Non-Medical Expenses
  • Health Parameter Services Annexure

Other Links

REGULATORY

  • IRDAI
  • General Insurance Council
  • Insurance Ombudsman
  • Consumer Education - IRDAI
  • Electronic Insurance Account
  • Covid-19 Advisory
  • Underwriting Philosophy
  • Insurance Blog
  • Insurance Video
  • Network Hospital Criteria

TRADE LOGO

  • Trade Logo displayed above belongs to M/S Assicurazioni Generali Societa Per Azioni and used by Future Generali India Insurance Co. Ltd. Under Licence.

REGISTERED & CORPORATE OFFICE

  • Future Generali India Insurance Co Ltd., Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai - 400 083.
  • IRDAI Registration No: 132 (Validity 31 March 2023) License Category: General CIN: U66030MH2006PLC165287

DOWNLOAD APP


  • Terms & Conditions
  • Privacy Policy
  • Disclaimer
  • Sitemap
  • Visit Life Insurance Site

© Future Generali India Insurance Company Ltd. All Rights Reserved.

chatboat logo

Leo Your Insurance Virtual Assistant

lion

Hey, there! I am Leo!

I’m here to offer you friendly advice and help.

Connecting 

Menu

×
New User Existing User Locate Services Contact Us Connect with Live Agent
Back
  • Health
  • Bike
  • Travel
  • Accident
  • Car
  • Dog Health
Back Get best quote What's covered Why Future Generali Buy Now Product Brochure
Back Buy new insurance Renew Policy Get policy schedule Download health card Intimate a claim Claim status Locate services e-NACH registration Forms & Downloads

Select Language

×
English Hindi (हिन्दी) Marathi (मराठी) Telugu (తెలుగు) Gujarati (ગુજરાતી) Hinglish

Are you sure you want to end the session?

×

Do you wish to continue?

Session expire in 1:00

Do you want to continue chat?

×