Future Generali to roll out seven new products

Future Generali India Life Insurance Company Ltd, a joint venture between Future Group and the Italy-based Generali Group, would roll out seven new products by March 2011. These products would be a mix of traditional insurance products and Unit-Linked Insurance Products (ULIPs).

Addressing media persons here, Nirakar Pradhan, chief investment officer of Future Generali India said, “We would be launching seven new products by March 2011. These would be a mix oftraditional insurance products and ULIPs. Presently, we have 18 products in our portfolio which includes 15 conventional products and three ULIPs.”

Future Generali is also planning to foray into the micro-insurance segment given its huge potential but the modalities are yet to be worked out, he added.

The insurance firm is eyeing a total pan-India premium collection of Rs 1200 crore for the current financial year which would be a jump of 118.97 per cent over Rs 548 crore which it had actually achieved in 2009-10. TIN the eastern region, the company's premium collection stood at Rs 53 crore in the last fiscal.