Future Generali India Life Insurance strengthens its leadership team, appoints Alok Rungta as Head Business Transformation & Chief Financial Officer

Mumbai, February 14, 2023: Future Generali India Life Insurance Company Ltd. has announced the addition to its senior leadership team by appointing Mr. Alok Rungta as Head of Business Transformation & Chief Financial Officer. This announcement comes with the backdrop of its Managing Director & CEO – Bruce de Broize earlier announcing his focus on driving profitable growth in the Indian market.

Alok, with Future Generali India Life Insurance, is charged to lead the Finance, Administration, Procurement & Business Transformation functions while the company moves forward as a majority-owned Generali subsidiary. Alok has previously led multi-cross-functional teams while working with leading insurance brands across Asia and had held several strategic roles including Financial Controller and CFO, Transformation Lead, Head of Technology, and Project Management.

Mr. Bruce de Broize, Managing Director & CEO, Future Generali India Life Insurance on this occasion said, “I am delighted to welcome Alok Rungta as Head Business Transformation & Chief Financial Officer. His strong background within the insurance sector will help drive forward strategic plans and deliver long-term value to all our stakeholders, including customers, partners, and employees. With his extensive and rich global experience, we are confident that Alok will strengthen our position of becoming a leading, life insurance company and a lifetime partner to our stakeholders.”

Mr. Alok Rungta, Head Business Transformation & Chief Financial Officer said, “I am grateful and humbled by the trust bestowed on me with this new role. With these changing times, leading the business transformation and finance vertical will allow me to manage and identify areas of growth within and implement processes to accelerate performance. The role of Finance has become even more strategic, and I look forward to working closely with the entire team at Future Generali India Life Insurance. The life insurance industry in India is at a strategic juncture and brimming with growth opportunities, and I look forward to contributing towards its journey of expansion and profitability.”

Alok is a qualified Chartered Accountant and a veteran in the insurance and financial services industry. He brings over 25 years of work experience and has previously worked with leading life insurance companies. He has worked extensively across India, Hong Kong, and the Philippines and has been instrumental in transforming Customer Acquisition, Engagement using Product, Innovation, Sales Innovation, and Digital Enablement.

About Future Generali India Life Insurance Company Ltd.

Future Generali India Life Insurance Company Ltd. is headquartered in Mumbai and was established in 2006. The company has a presence in 2000+ owned and partnered locations in India and offers total insurance solutions across both, at the individual and group front. The company clocked GWP of INR 1,433 crores in FY22, ended the period at an Assets Under Management of INR 5,993 crores, and has an Individual Claim Settlement of 96.15% for FY22. The company is backed by Generali and Future Group. Generali is the largest shareholder in Future Generali India Life Insurance with a stake of 71.79% 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.