Date:25/10/2007 URL: http://www.thehindubusinessline.com/2007/10/25/stories/2007102552150600.htm

Back Future group insurance venture starts operations

Our Bureau

Mumbai, Oct 24 Future Generali, a joint venture between the Future Group and the Italian Assicurazioni Generali S.p.A, has formally launched its life and non-life operations in the country.The companies will be called ‘Future Generali India Life Insurance Company’ and ‘Future Generali India Insurance Company’.

The companies, which will be headquartered in Mumbai, have received the licence for both life and non-life insurance products and services.

The companies will be 74:26 joint ventures between the Future Group and Assicurazioni Generali S.p.A and they will begin with a capital base of Rs 115 crore, respectively. Future Generali will distribute its products through the Future Group’s retail outlets, utilising the concept of ‘shoppassurance’ and other traditional channels.