Generali Central Life Insurance (formally 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
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
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]
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