Future Generali hopes to return to profitability

Future Generali India Life Insurance Company, which had shown negative growth for the last couple of years, is in course of achieving growth from this fiscal, a top company official said.

With its New Business Premium (NBP) registering Rs 150 crore in April-December, in all probability the company would do well in the current quarter, to show a growth, Vineet Agarwal, Head, Agency and Alternative Distribution and Assurance Channel, told reporters here.

Despite a deficit of Rs 200 crore, as compared to last year’s NBP of Rs 350 crore during the nine months period, the company is confident to wipe it out and break even by the end of fiscal, he claimed.

The goal of the company is to increase its market share, from the present 1.5 per cent and grow its advisor base by recruiting over 10,000 new advisors from different segments of the society to help them reach out to a wider audience base, Agarwal said.

http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/future-generali-hopes-to-return-to-profitability/articleshow/18468330.cms