Future Generali to roll out seven new products by March 2011

Future Generali India Life Insurance Company Ltd, is set to roll out seven new products by March 2011. The company is a joint venture between Future Group and the Italy-based Generali Group.

These products would offer a mix of traditional insurance products and Unit-Linked Insurance Products (ULIPs).

Nirakar Pradhan, chief investment officer of Future Generali India, addressing media persons said, "We would be launching seven new products by March 2011.

These would be a mix of traditional insurance products and ULIPs. Presently, we have 18 products in our portfolio which includes 15 conventional products and three ULIPs."

Also on the cards is a Future Generali micro-insurance initiative for which the modalities are yet to be worked out, Pradhan added.

The insurance firm is aiming for a total pan-India premium collection of Rs 1200 crore for the current financial year which would represent a jump of 118.97 per cent over Rs 548 crore which it had actually achieved in 2009-10.

In the eastern region, the company's premium collection was registered at Rs53 crore in the last fiscal.