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| Future Generali eyes Rs 750-cr 1st premium income |
| BS Reporter / Kolkata Jan 14, 2010, 00:15 IST |
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Future Generali India Life Insurance, a joint venture between Future Group of India and Generali Group of Italy, is looking at a first premium income of Rs 750 crore for the the present financial year.
So far, the company it has already garnered a gross premium of about Rs 302 crore (between April-December 2009), against Rs 155 crore for the full financial year 2008-09.
The company had enhanced its equity base to Rs 667 crore, and it infused Rs 165 crore in the last financial year, said Nirakar Pradhan, chief investment officer, Future Generali India Life Insurance.
This quarter it is planning to launch three more products, of which one could be a traditional product, while the other two could be unit linked insurance products, said Balaram Sarma, chief-operations, Future Generali India Life Insurance.
The company is also bullish on mall network for distribution of the insurance products, given the vast network of Future Group run malls across the country.
About 10 per cent of the company's business comes from the malls, while 60 per cent is through the agency channel.
Recently, the company launched Future Generali Sanjeevani Plus, a unit linked whole life insurance and investment plan. Under the scheme, customers have a choice of four fund options, flexibility of top-ups, partial withdrawal, switches and surrender.
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