The joint venture was approved on September 4, 2007 by the Insurance Regulatory and Development Authority (IRDA), to offer life insurance products and services to Indian consumers. FGILICL has filed some of the products for the approval from the regulator.
Future Generali is a joint venture between the India-based Future Group and Italy-based Generali Group. Future Generali operates life and non-life insurance businesses through Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd. respectively.
The Future Group is a diversified conglomerate with its presence felt in multiple consumer-centric businesses like
retail, consumer finance, capital, insurance, media, brands and logistics. The group's flagship enterprise,
Pantaloon Retail (India) Limited, India's leading organized retailer, which owns and manages multiple retail
formats including Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, among others. With its extensive
width and depth of merchandise, it captures almost the entire consumption basket of the Indian consumer.
Headquartered in Mumbai, the company operates more than 450 stores across 40 cities in India and employs
over 18,000 employees. |
