Future Generali opens new office in Nagpur

Back

Future Generali continues to expand

Opens new office in Nagpur

Nagpur, April 28, 2009:  Future Generali, the Insurance joint venture between Future Group of India and Generali Group of Italy, opens its new branch office premise in Nagpur today.

Future Generali Insurance had adopted a unique business model offering Total Insurance Solutions, across Life & General Insurance, wherein all the insurance needs of customers can be serviced through every touch point of the company. Future Generali also sells through their unique Mallassurance™ channel, providing select Insurance options of Life and General Insurance through Future Group retail outlets across the country.  

Future Generali is currently active through 100 offices across 80 cities and over 27000 licensed advisors. Besides this large network of agents & branches, Future Generali also actively offers their Insurance solutions across 250 Future Group Malls.

On the occasion, Mr. Deepak Sood, CEO – Future Generali India Insurance Co. Ltd said, “We are delighted to launch our operations in Nagpur. This re-iterates our focus on the state and the region that will help us tap a large potential market. Even in small towns we are seeing an increase in per capita income and savings potential, thereby growing the market significantly. The opportunity is large and growing - insurance penetration in India is still considerably lower than other developed economies and also a good number of Indians are largely underinsured, or do not have any form of insurance for their most precious non-life assets. 

“One of our key priorities this year has been expanding our service network to successfully reach out to customers across the country with our Total Insurance Solutions. At Future Generali we believe in providing consistent superior service through a range of innovative products & solutions. As a new player, we look forward to establishing strong & long term, mutually beneficial relationships with customers. We are proud to carry the rich heritage of the Future Group & Generali Group, and believe our rapid growth in a relatively short period since launch and in these challenging circumstances, is testimony to the tremendous goodwill that both these Groups enjoy” said Mr. Jayant Khosla, CEO – Future Generali India Life Insurance Co. Ltd.

ABOUT THE COMPANY:

Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

Future Group

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 11 million square feet of retail space in over 63 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. The group’s specialty retail formats include- books and music chain - Depot; sportswear retailer - Planet Sports; electronics retailer - eZone; home improvement chain-HomeTown; and rural retail chain-Aadhaar; among others. It also operates the popular shopping portal, www.futurebazaar.com

Future Capital Holdings, the group’s financial arm provides investment advisory to assets worth over $1 billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations. Other group companies include, Future Generali, the group’s insurance venture in partnership with Italy’s Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative. The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based listed company Galaxy Entertainment Limited. Galaxy includes leading leisure chains, Sports Bar and Bowling Co. and family entertainment centers, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato. Future Group’s joint venture partners include, US-based stationery products retailers, Staples, French women’s wear retailer, Etam, Middle East-based Axiom Communications and India-based Blue Foods, Liberty Shoes, Talwalkars’ and Asian Electronics. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values.’F

Generali Group

Established in Trieste on December 26, 1831, Generali is an international group present in more than 40 countries with insurance companies and companies mostly operating in the financial and real estate sectors. Over the years, the Generali Group has reconstructed a significant presence in Central Eastern Europe and has started to develop business in the principal markets of the Far East, among which China and India.

Identity Card:

• Generali Group ranks among the top three  insurance groups in Europe and the 30th largest company in the Fortune 500 international ranking, with a 2007 premium income of over € 66 billions
• High rating assigned by the international rating agencies:
• A.M. BEST  A+
• Standard & Poor’s AA
• Fitch AA
• Moody’s Aa3                 
• It is present in more than 40 countries    
• It has over 50 millions clients worldwide
• It has  80,555 employees
• It has assets over €370 billion

For Further Information:

Future Generali India Life Insurance Co Ltd, Reg No: 133, Registered Office: Knowledge House, Shyam Nagar,Off: Jogeshwari Vikhroli Link Road, Jogeshwari (East) Mumbai 400060. Corporate Office: 001, Trade Plaza, 414 Veer Savarkar Marg, Prabhadevi, Mumbai–400025

Insurance is the subject matter of Solicitation.