News | Future Generali India Insurance Sets Ambitious Rs 10,000 Crore Premium Target by 2030

Future Generali India Insurance Sets Ambitious Rs 10,000 Crore Premium Target by 2030

News

31 July 2025

2 min read

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Future Generali India Insurance Company (FGII) has unveiled a bold growth strategy, aiming to double its gross written premium (GWP) from Rs 5,547.5 crore in FY 2024–25 to over Rs 10,000 crore by 2030. The company is targeting a sustained annual growth rate of 13–15%, well above industry averages, to solidify its position among India’s top ten general insurers.

Chief Executive Anup Rau emphasized that India’s general insurance sector has the potential to grow at nearly twice the GDP growth rate, presenting favorable conditions for FGII to accelerate its expansion from a relatively modest base. The projected premium jump reflects confidence in the company’s ability to capitalize on India’s under-penetrated insurance segments, particularly in non-motor and non-health verticals such as pet, liability, professional indemnity, and housing insurance.

A key driver behind FGII’s growth plan is the acquisition of Future Group’s stake by Central Bank of India, which now brings an extensive distribution network of nearly 4,500 branches into play. This bancassurance alliance is seen as instrumental in boosting reach in Tier II and Tier III markets, reducing distribution costs and improving access to SMEs and underserved customer segments. FGII presently relies on bancassurance for approximately 6–7% of its business and aims to elevate this share to 10–12% over the next three to five years.

While motor and health insurance segments remain central to FGII’s business, the company is increasingly focusing on non-traditional lines to drive faster growth. The expansion into specialty product lines, alongside the leveraging of Central Bank’s reach, underpins FGII’s confidence in achieving its premium milestone by 2030.

Overall, FGII’s trajectory reflects a broader ambition to outpace industry growth and emerge as a prominent player in India’s evolving general insurance landscape.