Future Generali India Insurance registers 58 percent growth in Gross Written Premium

Future Generali India Insurance Company Ltd, has registered a 58 percent growth in Gross Written Premium for FY in the Company’s third full year of operations ending 31st March 2011.

The Company achieved GWP of Rs 661 crores as against Rs.418 crores in FY 10. Number of policies sold during the year was 681,940, an increase of 23% against last FY.

KG Krishnamoorthy Rao, MD & CEO, Future Generali India Insurance Company, said of this achievement, “Amidst market challenges, continued  pressure on premium rates following de-tariffing and an increasingly competitive scenario, our focus was on maintaining the  momentum in terms of business volumes while always ensuring that the quality of business was not compromised. 

We are overall optimistic about business prospects for 2012; in particular we expect the Motor TP pool results to be more  healthier this year, thanks to increase in the motor third party insurance rates announced by the regulator. We are looking at  growing our retail insurance portfolio through Mallassurance, Agency and Bancassurance.”

Rao further adds, “With health insurance portability around the corner, Companies with superior service levels have an opportunity to gain competitive advantage. At Future Generali India Insurance, customer service has been and always will be a key driver and parameter of our current performance and future growth.”

Future Generali India Insurance currently operates out of 94 branches across the country. With ‘Total Insurance Solutions’ across Life & General Insurance, the company continues to use its composite advisor model wherein they train and equip advisors to provide best services/solution across all sectors.

Future Generali’s insurance products and services are also distributed through 163 Future Group retail outlets across the country with Future Generali’s unique Mallassuranceâ„¢ model.