Overview: Expanding Generali’s Presence in India
Italian insurance leader Generali Group has announced the launch of its Global Corporate & Commercial (GC&C) India business unit, operating under Future Generali India Insurance. This strategic move aims to bolster Generali’s footprint in India and cater to the growing insurance demands of medium and large enterprises in the country.
Leadership and Offerings
The newly formed GC&C India unit will be led by Shib Shankar Saha, who will report directly to GC&C Asia Head Axel Roesner. The unit’s diverse portfolio includes:
- Insurance Products: Cyber, engineering, financial lines, liability, marine, parametric, and property insurance.
- Risk Advisory Services: Tailored support for both multinational and domestic enterprises navigating today’s dynamic environment.
Supporting India’s Growing Economy
Generali aims to leverage its global expertise and local insights to deliver innovative solutions aligned with India’s evolving corporate insurance needs. Speaking about the launch, Rob Leonardi, Generali Asia’s regional officer, emphasized India’s economic potential:
“India has been recognised globally as the fastest-growing major economy in recent years. The launch of GC&C India reflects Generali’s commitment to supporting local businesses. The government’s focus on infrastructure development and the manufacturing sector presents significant opportunities for our GC&C products.”
Tailored Solutions for Complex Risks
Generali’s GC&C CEO, Christian Kanu, highlighted the importance of addressing complex risks for Indian enterprises:
“GC&C India enhances our ability to underwrite large and complex risks through tailored solutions that meet the evolving needs of our customers. The growing demand for corporate and commercial insurance makes this the perfect time to launch. We look forward to delivering value as our customers’ Lifetime Partner.”
Future Generali: A Strong Joint Venture
GC&C India operates under Future Generali India Insurance Company, a joint venture between the Generali Group (holding a 74% majority stake) and the Future Group. Generali Group is active in over 180 countries, providing tailored insurance solutions for medium and large companies and intermediaries.
In November 2024, the Central Bank of India secured approval from the Reserve Bank of India (RBI) to enter the insurance sector through a joint venture with Generali, underscoring the company’s commitment to expanding its presence in India’s growing insurance market.
Conclusion: Strengthening Corporate Insurance in India
With its robust product portfolio, expert risk advisory services, and alignment with India’s growth trajectory, GC&C India is set to transform the corporate and commercial insurance landscape. By addressing the complex and evolving needs of enterprises, Generali reinforces its position as a global leader in the insurance sector, dedicated to being a trusted Lifetime Partner for businesses.
