Future Generali India Life Nears Breakeven with 96% Premium Growth in FY25

Mumbai (Maharashtra) [India], June 9:

Future Generali India Life Insurance (FGILI) has released its business and financial results for the fiscal year 2024–25, showcasing remarkable growth. The company’s total new business premium surged by an impressive 96%, reaching ₹1,192 crore in FY25, a substantial rise from ₹609 crore in the previous fiscal year. This growth was driven by a 19% increase in individual new business premium, which climbed to ₹476 crore from ₹398 crore, and an even more significant 240% jump in group new business premium, soaring to ₹716 crore from ₹211 crore.

Furthermore, FGILI’s gross written premium saw a 39% increase, reaching ₹2,511 crore in FY25 compared to ₹1,811 crore in FY24. The company is now very close to breaking even, reporting a reduced loss of just ₹6.4 crore in FY25, marking a 94% improvement from the ₹113.9 crore loss in FY24.

Demonstrating a strong dedication to policyholder satisfaction and financial security, FGILI also improved its claim settlement ratios. The individual business claim settlement ratio rose to 98.08% in FY25 from 96.08% in FY24, while the group business ratio increased to 99.78% from 99.18% in the same period.

Moreover, the Company reinforced its commitment to policyholder satisfaction and financial security, with the claim settlement ratio for individual business rising to 98.08% in FY25, up from 96.08% in FY24. Similarly, the claim settlement ratio for group business increased to 99.78% in FY25 from 99.18% in FY24.

Renewal premiums also recorded a 10% year-on-year increase, reaching ₹1,318 crore in FY25 from ₹1,201 crore in FY24, reflecting the Company’s strong policyholder retention and sustained engagement.

The Company’s Assets Under Management (AUM) rose to ₹8,784 crore in FY25 as compared to ₹7958 crore in the previous fiscal year. This growth in AUM demonstrates the Company’s strong fund management capabilities and continued trust from policyholders.

The flagship Equity ULIP Fund—Future Midcap Fund has delivered over 33% CAGR returns over the last five years and holds a 4-star rating from Morningstar. Since its inception in November 2018, the fund has outperformed the benchmark by 2.9%, demonstrating consistent performance and strong returns.

The total sum assured in effect also increased by 9%, amounting to ₹1,61,595 crore, compared to FY24 at ₹1,47,781 crore. The Company has also expanded its distribution footprint by introducing new products, increasing operational units, and strengthening partnerships, ensuring broader market reach and enhanced accessibility for customers across diverse segments.

While commenting on the business achievements, Mr. Alok Rungta, MD & CEO at Future Generali India Life Insurance said “We are proud of the remarkable business growth achieved by Future Generali India Life Insurance Co. Ltd in FY25. With a customer-first mindset and strategic investments in technology and talent, we continue to create value for customers and stakeholders. This remarkable performance is a testament to our dedication to delivering transparent, efficient, and customer-first financial solutions, reinforcing our position as a trusted partner in securing financial futures. Building on this success, we remain focused on innovation, expanding product offerings, and deepening customer engagement to continue driving excellence in the insurance sector. We remain committed to simplifying life insurance for our customers and making it more accessible for everyone, while continuing to deliver value across our distribution channels.”

ABOUT FUTURE GENERALI INDIA LIFE INSURANCE

Future Generali India Life Insurance Company Ltd. is headquartered in Mumbai and was established in 2006. The Company has a presence in 1300+ owned and partnered locations in India and offers total insurance solutions across both the individual and group fronts. Generali is the largest shareholder in Future Generali India Life Insurance with a stake of 73.99% in the Company. Generali brings in 190+ years of insurance expertise as well as its global network’s best practices, capabilities, and resources, driving sustainable and profitable growth for communities, clients, employees, and shareholders. Established in 1831, Generali is present in over 50 countries in the world, with 82 thousand employees serving 68 million customers globally.