Currently, Generali’s Indian presence is represented by a pair of joint ventures – Future Generali India Life Insurance Company Limited, and Future Generali India Insurance Company Limited (Non-Life Insurance). The new deal, says Generali, shows its commitment to expanding in the local market; it is committing approximately €120 million in the partnership, which will be put towards expanding Future Group’s distribution network in order to more efficiently offer insurance products in India. Digital will be a major focus.
“Future Group has one of India’s biggest pools of consumption-oriented customers,” said Kishore Biyani, Future Group Managing Director and Group CEO, “and its network connects with customers for a large wallet share and at consistently high frequencies. With Generali, we have an unparalleled product, and global insurance expertise that has the potential to significantly increase the throughput of our retail network. Generali has been a partner of huge trust for us, and we are delighted to strengthen our partnership with them.”