Generali Group signs an agreement with Future Group,announces increase in its stake in its insurance ventures in India
Generali Group announces that it has signed an agreement with Future Group to increase its stake in its insurance ventures in India to 49 percent from 25.5 percent, underscoring its commitment to growing its presence in the local insurance market.
Generali’s presence in India is currently in the form of two joint ventures called Future Generali India Life Insurance Company Limited and Future Generali India Insurance Company Limited (Non-Life insurance).
Through this transaction Generali has committed up to approximately €120 million to the partnership, which will continue to leverage the far-reaching distribution network of Future Group, a unique platform and customer ecosystem to offer insurance protection solutions within India with a focus on digital.
The long-standing partnership with Future Group currently generates gross written premiums of €375 million that have been growing steadily year after year.
The transaction is expected to close during the second half of 2018 subject to regulatory approval and customary closing conditions.
