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Last Updated : Feb 27, 2018 10:44 AM IST | Source: PTI

Future Generali Life expects Rs 950 crore premium in FY18

Since the start of operations in 2007, assets under management (AUM) of Future Generali were to the tune of Rs 3,100 crore, of which unit-linked insurance plans (ULIPs) share was ten to 15 percent.

Private insurer Future Generali Life Insurance is expecting to garner a total premium income of Rs 950 crore in the current financial year, a company official said.

Since the start of operations in 2007, assets under management (AUM) of Future Generali were to the tune of Rs 3,100 crore, of which unit-linked insurance plans (ULIPs) share was ten to 15 percent.

"We are expecting to garner a total premium income of 950 crores in 2017-18. Out of that first individual is Rs 300 crore, first group Rs 250 crore and Rs 400 crore of renewal premium", CMO and EVP (strategy) Rakesh Wadhwa told PTI.

In the first nine months of the current fiscal, new business premium income had registered a growth of 78 percent over the previous same period, he said.

Talking about the advantages which ULIPs were having now after imposing of long-term capital gains (LTCG) on mutual funds in the budget, Wadhwa said that it would be a gain from the industry point of view.

"But Future Generali will participate in a limited way because our focus is on giving protection and savings to the insured", he said. Wadhwa said that the focus for the company would be on bigger towns and state capitals with 104 offices across the country. Future Group holds 51 percent, Generali with 26 percent and the balance with IITL.
First Published on Feb 26, 2018 06:40 pm
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