Future Generali India Life Insurance Reports Remarkable Growth in FY 2024-25

Future Generali India Life Insurance, headquartered in Mumbai, has announced substantial growth in its financial performance for the fiscal year 2024-25. The company reported a 96% increase in its total new business premium, which amounted to Rs1,192 crore, up from Rs609 crore in the previous year. The individual new business premiums rose 19% to Rs476 crore, while group new business premiums saw a remarkable 240% increase, reaching Rs716 crore.

Additionally, the company's gross written premium recorded a 39% increase to Rs2,511 crore. Future Generali is closing in on breakeven, having reduced its losses by 94% to Rs6.4 crore. The company also saw improvements in its claim settlement ratios, both in individual and group businesses, and a 10% increase in renewal premiums reflected strong policyholder engagement.

Assets Under Management (AUM) expanded to Rs8,784 crore, showcasing the company's effective fund management. Future Generali's Equity ULIP Fund, the Future Midcap Fund, posted over 33% CAGR returns over five years with a 4-star rating from Morningstar. The company remains committed to customer satisfaction, innovation, and expanding its distribution reach.

(With inputs from agencies.)