Q4F19 Results: Future Generali India Insurance logs 33 pct growth in FY19

Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail game-changers Future Group and global insurer Generali  has reported financial results with a Net Profit of Rs 118 crore and Gross Written Premium (GWP) rising to Rs. 2,601 crore in FY18-19. New technology innovations, better customer experience, increased contribution from retail lines of business, have been the key drivers towards the company’s growth. Future Generali India Insurance serviced more than 18 lakh policies in FY18 -19. The company reported revenue for FY18-19 grew by Rs. 650 crore to Rs. 2,601 crore while Net Profit grew by 50% to Rs.118 crore in FY18-19.

Speaking on the results Dr. Shreeraj Deshpande (Principal Officer & CEO (Officiating)), Future Generali India Insurance Pvt Ltd.said, “ Future Generali India Insurance has witnessed a growth of 33%, this shows our long -term commitment approach towards our customers by resolving thier queries timely with advanced tech solutions. Going forward, we aim to be at the forefront of technology investments. We plan to continue building our distribution network of agents, expand our geographical boundaries, and are open for new partnerships with non-traditional players (e-commerce, payments service providers, etc).”