Generali Central Life Insurance

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Generali Central Life Insurance
FormerlyFuture Generali India Life Insurance
Company typePublic
IndustryLife insurance
Founded2007 (2007)
HeadquartersMumbai, India
Key people
Alok Rungta
(MD & CEO)
ProductsLife insurance
Owner
Parent
Websitewww.generalicentrallife.com

Generali Central Life Insurance (formerly Future Generali India Life Insurance Company Limited) is an Indian publicly held life insurance company headquartered in Mumbai, India. It operates as a joint venture between the Generali Group, an Italian insurance company based in Trieste, and the Central Bank of India. The company has operations in over 1,100 locations across India.[1][2]

On 27 June 2025, Central Bank of India acquired a 25.18% stake in the company from Future Enterprises.[3]

Generali Central Life Insurance was established on 30 July 2025 as a joint venture between the Generali Group and the Central Bank of India.[4][5]

History

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The company was originally established in 2007 as a joint venture between Future Group (74% owner) and Generali Group (26% owner).[6] In 2013, Future Group sold 22.5% to Industrial Investment Trust Limited for ₹350 crore.[7][8] In 2022, Generali purchased 16.62% for ₹225 crore (€26 million) from Industrial Investment Trust Limited.[9][10] In 2023, FGILI became the first Indian insurance company to have 74% Foreign Direct Investment (FDI), with Generali becoming the major stakeholder with a 73.99% stake.[11][12][13][14]

In August 2024, the company introduced Women in Insurance (WiN), a digital sales distribution channel led by women. The programme recruits women, particularly from non‑metro MBA institutions, and provides training for sales roles in the company.[15]

The Reserve Bank of India has approved Central Bank of India's insurance sector entry via a joint venture with Future Generali India Insurance and Future Generali India Life.[16] With a Rs 508 crore investment, the bank acquired a 24.91% stake in FGIICL and 25.18% in FILICL, they got IRDAI approvals.[17]

Starting from April 2024, Alok Rungta has been appointed as the Managing Director and Chief Executive Officer at Future Generali India Life Insurance.[18]

As of June 30, 2025, the Future Apex Fund was rated five-star by Morningstar, delivering up to 24.2 % CAGR over five years, and the Future Midcap Fund was rated four-star by Morningstar, delivering up to 30.80 % CAGR over the past five years.[19]

Partnership

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  • December 13, 2016: Future Generali India Life Insurance entered into a distribution agreement with Bajaj Finance.[20]
  • April 03, 2018: AU Small Finance Bank partnered with Future Generali India Life Insurance as a corporate agent for life insurance.[21]
  • January 20, 2018: The company established a bancassurance partnership with Saraswat Bank.[22]
  • July 27, 2023: Future Generali India Life Insurance formed a partnership with JM Financial to expand its market reach nationwide.[23]
  • June 27, 2025: Generali announced Central Bank of India as its joint venture partner.

References

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