Future Generali India Life Insurance expands network, launches new branch in Kochi

Kochi Kochi, Oct 25, 2017: Future Generali India Life Insurance (FGILI), one of the country’s fastest growing life insurers (FY 2017, as per IRDAI’s published data), is increasing its national presence by launching its newest branch in Kochi today. The office is located on the 2nd Floor of V M Plaza, opposite K R Bakes in Palarivattom, Kochi.

This announcement is in line with the organization’s focus on rapidly growing its business by augmenting the sales network and introducing simple and needs based customer centric propositions to the market.

A joint venture between three leading entities, Future Group (an established retailer in India and owners of Big Bazaar), Generali Group (a global insurance corporation) and Industrial Investment Trust Limited (an investment trust company), FGILI offers differentiated life insurance solutions through a countrywide network of 77 branches (as on 30th September 2017).

Since its inception, the firm has sold over 12 lakh policies and currently manages assets worth Rs. 3,100 crore (as on 30th September 2017). Speaking on the occasion, Mr. Subhasish Acharya, Executive Vice President & Head – Agency, Future Generali India Life Insurance said, “This incremental branch expansion is a significant organizational imperative for our company’s next phase of growth. We are excited to establish our distribution presence in Kochi and provide comprehensive insurance solutions across all life stages to the consumers. Offering simple to understand and easy to buy products while augmenting distribution network are core pillars of our growth strategy ”

GENERALI GROUP  
Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €70 billion in 2016. With over 74,000 employees in the world, and 55 million clients, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017 Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.

FUTURE GROUP
Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. 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’.