By IANS,
Kolkata : Riding on signs of economic recovery and new product launches Future Generali India Life Insurance expects to earn a first-year premium (FYP) income of Rs.750 crore this fiscal, a senior company official said here Thursday.
“We have achieved an FYP income of Rs.153 crore for the first two quarters this year. Last fiscal, we had done a business of Rs.155 crore for the whole year,” said Nagesh Rajanna, Future Generali’s chief of sales and business development.
“We are expecting FYP to grow five times by the end of the year,” Rajanna told reporters at a press meet to launch its new product Future Freedom Plus.
Future Generali is the insurance joint venture between Kishore Biyani-led Future Group that owns the Pantaloons apparel brand and Italy-based Generali Group, with a stakeholding of 74:26.
The company that started in 2007 has so far got 18 products in its portfolio and plans to add four to six new products by the end of the fiscal, Rajanna said.