Industry

Future Generali expects premium collections to grow 20% this year

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 Insurance company Future Generali India on Wednesday said it expects to see a 20 per cent growth in premium collections in the current financial year.

“We are expecting the overall business to grow at 20 per cent during the year and health portfolio should be growing at 50 per cent,” the company’s Chief Operating Officer Easwara Narayanan M said during the launch of a new health insurance product ‘Health Total’.

 Mr. Narayanan also said that the health insurance segment currently contributes 14 per cent to Future Generali India’s total business and this should increase to 20 per cent in the next few years on the back of addition of new products.

 The company, which is a joint venture between India’s Future Group and global insurer Generali, had a gross written premium of around Rs.1,480 crore in 2014-2015.

The company’s new health insurance product offers a maximum cover of three years. According to Mr. Narayanan , policy holders will get hospitalisation cover, restoration benefits, and a 50 per cent cumulative bonus for every claim free year.

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Printable version | Jan 20, 2020 12:56:53 PM | https://www.thehindu.com/business/Industry/future-generali-expects-premium-collections-to-grow-20-this-year/article7819450.ece

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