Future Generali posts Rs 28-cr profit in first 9 months

Private sector general insurer, Future Generali India Insurance posted a profit of Rs 28.4 crore during April-December period of the current financial year and hopes to end this fiscal with a gross written premium of Rs 1,300 crore.

The company has collected a premium of Rs 944 crore, up 10.4% during the first nine months of this fiscal against Rs 855 crore reported in the same period a year ago.

Similarly, total premium collection in the third quarter was Rs 319 crore, up 13.5% over the same period in FY13.

"Though this year has been a challenging year due to the general slow down in the economy, we expect to close the financial year with a Gross Written Premium of nearly Rs. 1300 crores," Chief Executive Officer of Future Generali India Insurance, K G Krishnamoorthy Rao said.

Some of our business lines such as motor, health and the newly launched agriculture insurance have done quite well, he added.