1- Introduction of Home/ House Hold Insurance |
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(3)- ABOUT FUTURE GENERAL INDIA INSURANCE COMPANY LIMITED |
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Company Profile : | ||
Future Generali is an insurance joint venture headquartered in Mumbai, India between the Italy-based Generali Group and the India-based Future 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.� The Generali Group is one of the most significant participants in the global insurance and financial product markets and is ranked as the 30th largest company in the world by Fortune (2007). The Group�s Parent and principal operating Company Generali is Assicurazioni Generali, market leader in Italy, founded in 1831 in Trieste. Generali is the largest corporation in Italy. Characterised from the outset by a strong international outlook and now presence in 40 countries through 315 subsidiaries, 113 insurance companies and 126 financial and real estate companies, Generali has consolidated its position among the world's leading insurance operators, and has grown its importance in western Europe, the Company�s principal area of operation, with significant market shares in Germany, France, Austria, Spain and Switzerland. In recent years, the Group has made a remarkable return to central-eastern European markets and has set up offices in the principal markets of the Far East, among which China and India. The Generali Group has experience dating back over almost two centuries, and with its recognized financial strength and consolidated partnerships with major international reinsurers, operates in all classes of property and casualty insurance, from mass risks (like Auto TPL or Personal Injuries) to highly complex industrial plants, from simple policies for family protection to extensive contracts satisfying multinational companies� complex needs. Generali provides coverage to individuals, protecting their incomes and optimizing their savings, through life insurance products, individual and group pension schemes. In this field Generali can offer highly sophisticated solutions to multinational companies through a specialized structure, namely GEB (Generali Employee Benefits) located in Brussels. Assicurazioni Generali is ranked as �AA� by Standard & Poor (19.10.2006). In the last decade, the Group has widened its product offerings from only insurance to include the entire range of financial services and asset management. It has more than 350,000 shareholders and over 66,000 employees. It is one of the largest insurance groups and the largest Bancassurer in Europe. The Future Group is a diversified conglomerate with presence 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, owns and manages multiple retail formats including Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, among others. With its width and depth of merchandise, it captures almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai, the company operates over 5 million square feet of retail space, has more than 450 stores in different formats across 40 cities in India and employs over 18,000 employees. Pantaloons Retail was awarded the International Retailer of the Year 2007 by the world�s largest retail trade association, US-based National Retail Federation (NRF). It was also the recipient of the Emerging Market Retailer of the Year at the World Retail Congress held in Barcelona in March 2007. Future Capital Holdings, the group�s financial arm, focuses on asset management and consumer credit. It manages assets worth over USD1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. The group has recently launched a consumer credit and financial supermarket format, �Future Money�. Future Group companies include Indus League Clothing, Galaxy Entertainment, Future Media India Limited, Futurebrands India Limited and its online initiative is led through futurebazaar.com The group�s joint venture partners include Italian insurance major, Generali, French company ETAM group, US-based stationery products retailer, Staples Inc, Middle East based Axiom Communications and UK-based Lee Cooper and Alpha Airports. It�s Indian joint venture partners include Talwalkers, Liberty Shoes and Blue Foods. Future Group�s vision is to �deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner�. One of the core values at the Future Group is �Indian-ness� and its corporate credo is � Rewrite rules, Retain values |
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