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Time of India
04-08-2025
- Business
- Time of India
Generali Group and Central Bank of India announces new brand identity for their joint venture
Generali Group and the Central Bank of India have announced a new brand identity for their life and general insurance joint venture – Generali Central . The new brand names - Generali Central Life Insurance and Generali Central Insurance – represent the coming together of Generali Group's global expertise and the Central Bank of India's trusted heritage to protect what customers value most: their family, their health, their assets and their future. Rob Leonardi, Asia regional officer, Generali, said, 'India has long been a strategic market for Generali and our joint venture with the Central Bank of India reflects the potential we see today and for the future. The synergies between our two organisations are clear and I have every confidence that we'll be able to deliver on our joint vision to provide accessible solutions that reflect the real needs of Indian families and businesses across the country. This collaboration supports us in fulfilling our Lifetime Partner ambition in the country, as we lay the groundwork for future innovation and growth.' The Generali Central brand launch includes a new visual identity, including a new logo and typography, as well as a new website and revamped social media presence. It reinforces the company's core values of protection and reliability, while signaling digital strength and a renewed focus on accessibility across India. This rebranding also puts an emphasis on digital innovation and expanded distribution, further strengthening the company's long-term commitment to customers, partners, and stakeholders. Aligning with the Generali Group's 'Lifetime Partner' proposition, the Generali Central brand aims to address the real needs of individuals, families and businesses with life and general insurance solutions designed to safeguard Indian lives and livelihoods. Alok Rungta, managing director and chief executive officer, Generali Central Life Insurance Company , said, 'With our new brand identity, Generali Central Life Insurance marks a defining moment in our journey to becoming a future-ready, customer-first life insurer. Our strategic partnership with the Central Bank of India unlocks transformative potential to reshape the landscape of protection and insurance in India. By combining Generali Group's global heritage and insurance expertise across more than 50 countries with the Central Bank of India's deep-rooted trust and expansive network of over 4,500 branches, we are poised to democratise access to life insurance like never before.' 'Our joint focus is clear: to deepen protection in underserved and rural segments through innovative, accessible, and inclusive products. This new identity reflects our shared commitment to transparency, sustainability, and disciplined execution—anchored in strong governance and a purpose-driven approach,' Rungta added. Anup Rau, managing director and chief executive officer, Generali Central Insurance Company, said, 'Our new brand identity reflects the powerful synergy between two iconic institutions—Generali Group, with nearly 200 years of global insurance expertise, and the Central Bank of India, with over a century of deep-rooted presence in India's financial and geographical landscape. This is more than a collaboration; it's a strategic alliance aimed at redefining general insurance in India.' 'By harnessing the Bank's extensive branch network and community trust, we are uniquely positioned to bridge the protection gap, enhance insurance awareness, and deliver comprehensive, customer-centric solutions. This transformation is not just visual—it's a reaffirmation of our purpose: to be a Lifetime Partner, empowering individuals with confidence and security at every stage of life,' Rau added.
United News of India
19-06-2025
- Business
- United News of India
Future Generali India Life Insurance declares bonus payout of Rs 84.43 crore in FY25
Mumbai, June 19 (UNI) Private insurance company Future Generali India Life Insurance Company Limited (FGILICL) has announced a bonus payout of Rs 84.43 crore for the financial year 2024–25, the highest in the company's history since inception. This payout will benefit over 94,000 participating policies, reflecting FGILI's consistent commitment to long-term value creation and disciplined fund management. The bonus marks about 173 percent increase over the past 10 years, a significant milestone in FGILI's journey to reward loyal policyholders and drive transparency. Of the Rs 84.43 crore, Rs 25.27 crore has already been paid out as part of survival or maturity benefits. The remaining funds will accrue to eligible policyholders and be disbursed in future years. The company has announced bonus payouts across its suite of participating (PAR) plans — life insurance policies that share profits with policyholders through annual bonuses. These plans combine life cover with steady, profit-linked returns. Notable offerings include the Future Generali Lifetime Partner Plan, Future Generali New Assure Plus, Future Generali Secure Income Plan, and Future Generali Assure Plus among others. Commenting on the bonus payout performance of the company, Alok Rungta, MD and CEO, Future Generali India Life Insurance, said, 'At Future Generali India Life Insurance, we are deeply committed to long-term wealth creation for our policyholders. This record bonus payout is a testament to our strong fund performance, prudent investment approach, and the trust customers continue to place in us. We remain dedicated to supporting our customers through every stage of life and aspire to be their trusted Lifetime Partner.' UNI JS SS
Business Standard
10-06-2025
- Business
- Business Standard
Future Generali India Life Nears Breakeven; FY25 Individual New Business Premium Up 19% to Rs 476 Cr
PNN Mumbai (Maharashtra) [India], June 10: Future Generali India Life Insurance (FGILI) announced its business and financial performance for FY 2024-25. The Company's total new business premium increased by 96% to Rs1,192 crore in FY25, up from Rs609 crore in FY24. While individual new business premiums rose by 19% to Rs476 crore in FY25 from Rs398 crore in FY24, group new business premiums increased by 240% to Rs716 crore in FY25 from Rs211 crore in FY24. The gross written premium of the Company also marked an increase of 39% to Rs2,511 crore in FY25, up from Rs1,811 crore in FY24. The Company is nearing breakeven, reporting a loss of Rs6.4 crore only in FY25, down by 94% from Rs113.9 crore in FY24. Moreover, the Company reinforced its commitment to policyholder satisfaction and financial security, with the claim settlement ratio for individual business rising to 98.08% in FY25, up from 96.08% in FY24. Similarly, the claim settlement ratio for group business increased to 99.78% in FY25 from 99.18% in FY24. Renewal premiums also recorded a 10% year-on-year increase, reaching Rs1,318 crore in FY25 from Rs1,201 crore in FY24, reflecting the Company's strong policyholder retention and sustained engagement. The Company's Assets Under Management (AUM) rose to Rs8,784 crore in FY25 as compared to Rs7958 crore in the previous fiscal year. This growth in AUM demonstrates the Company's strong fund management capabilities and continued trust from policyholders. The flagship Equity ULIP Fund--Future Midcap Fund has delivered over 33% CAGR returns over the last five years and holds a 4-star rating from Morningstar. Since its inception in November 2018, the fund has outperformed the benchmark by 2.9%, demonstrating consistent performance and strong returns. The total sum assured in effect also increased by 9%, amounting to Rs1,61,595 crore, compared to FY24 at Rs1,47,781 crore. The Company has also expanded its distribution footprint by introducing new products, increasing operational units, and strengthening partnerships, ensuring broader market reach and enhanced accessibility for customers across diverse segments. While commenting on the business achievements, Mr. Alok Rungta, MD & CEO at Future Generali India Life Insurance said "We are proud of the remarkable business growth achieved by Future Generali India Life Insurance Co. Ltd in FY25. With a customer-first mindset and strategic investments in technology and talent, we continue to create value for customers and stakeholders. This remarkable performance is a testament to our dedication to delivering transparent, efficient, and customer-first financial solutions, reinforcing our position as a trusted partner in securing financial futures. Building on this success, we remain focused on innovation, expanding product offerings, and deepening customer engagement to continue driving excellence in the insurance sector. We remain committed to simplifying life insurance for our customers and making it more accessible for everyone, while continuing to deliver value across our distribution channels." ABOUT FUTURE GENERALI INDIA LIFE INSURANCE Future Generali India Life Insurance Company Ltd. is headquartered in Mumbai and was established in 2006. The Company has a presence in 1300+ owned and partnered locations in India and offers total insurance solutions across both the individual and group fronts. Generali is the largest shareholder in Future Generali India Life Insurance with a stake of 73.99% in the Company. Generali brings in 190+ years of insurance expertise as well as its global network's best practices, capabilities, and resources, driving sustainable and profitable growth for communities, clients, employees, and shareholders. Established in 1831, Generali is present in over 50 countries in the world, with 82 thousand employees serving 68 million customers globally.
