Future Generali India Life Insurance

Future Generali India Life Insurance Company Limited (FGILI) is an Indian publicly held life insurance company headquartered in Mumbai, India. It is a joint venture between Generali Group, an Italian insurance company based in Trieste, and Future Group, an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. FGILI has operations in over 1,100 locations across India.

Starting from April 2024, Alok Rungta has been appointed as the Managing Director and Chief Executive Officer at Future Generali India Life Insurance.

History
Future Generali India Life Insurance was established in 2007 as a joint venture between Future Group (74% owner) and Generali Group (26% owner). In 2013, Future Group sold 22.5% to Industrial Investment Trust Limited for ₹350 crore. In 2022, Generali purchased 16.62% for ₹225 crore (€26 million) from Industrial Investment Trust Limited. In 2023, FGILI became the first Indian insurance company to have 74% Foreign Direct Investment (FDI), with Generali becoming the major stakeholder with a 73.99% stake.

In 2023, Future Generali India Life’s Future Midcap Fund was rated 3 stars and the Future Apex Fund was rated 4 stars according to Morningstar. According to Money Control, the Future Midcap Fund ranked among the top 10 ULIP midcap funds in terms of five-year returns, delivering up to 24.5% over the last five years.

Partnership

 * December 13, 2016: Future Generali India Life Insurance entered into a distribution agreement with Bajaj Finance.
 * April 03, 2018: AU Small Finance Bank partnered with Future Generali India Life Insurance as a corporate agent for life insurance.
 * January 20, 2018: The company established a bancassurance partnership with Saraswat Bank.
 * July 27, 2023: Future Generali India Life Insurance formed a partnership with JM Financial to expand its market reach nationwide.