GEN­ER­ALI IN­CREASES STAKE IN FU­TURE GEN­ER­ALI INSURANCE VEN­TURES IN IN­DIA

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Gen­er­ali Group an­nounces that it has signed an agree­ment with Fu­ture Group to in­crease its stake in its insurance ven­tures in In­dia to 49 per­cent from 25.5 per­cent, un­der­scor­ing its com­mit­ment to grow­ing its pres­ence in the lo­cal insurance mar­ket. Gen­er­ali’s pres­ence in In­dia is cur­rently in the form of two joint ven­tures called Fu­ture

Gen­er­ali In­dia Life Insurance Com­pany Lim­ited and Fu­ture Gen­er­ali In­dia Insurance Com­pany Lim­ited (Non-Life insurance). Through this trans­ac­tion, Gen­er­ali has com­mit­ted up to mil­lion to the part­ner­ship, which will con­tinue to lever­age the far­reach­ing dis­tri­bu­tion net­work of Fu­ture Group, a unique plat­form and cus­tomer ecosys­tem to of­fer insurance pro­tec­tion so­lu­tions within In­dia with a fo­cus on dig­i­tal. The long-stand­ing part­ner­ship with Fu­ture Group cur­rently grow­ing steadily year af­ter year. Frédéric de Cour­tois, Gen­er­ali Group CEO Global Busi­ness Lines & In­ter­na­tional com­mented: “We see large po­ten­tial for growth in In­dia as part of our strate­gic expansion plan in Asia, and we could not have a more ex­pe­ri­enced part­ner that knows and un­der­stands the lo­cal land­scape. Gen­er­ali’s proven ex­per­tise in insurance com­bined with Fu­ture Group’s un­ri­valled dis­tri­bu­tion in In­dia is a truly win­ning com­bi­na­tion. We could not be hap­pier to strengthen our ties with them.” Roberto Leonardi, Gen­er­ali Re­gional Of­fi­cer Asia said:“This is an ex­cit­ing op­por­tu­nity to deepen and en­hance our busi­ness in In­dia, a pri­or­ity mar­ket for our long-term growth in Asia.We have a lot of con­fi­dence in the unique, dig­i­tal dis­tri­bu­tion ca­pa­bil­i­ties of Fu­ture Group, and re­in­forc­ing our re­la­tion­ship will in­crease our abil­ity to serve our cus­tomers in In­dia.” Kishore Biyani, Fu­ture Group Manag­ing Di­rec­tor & Group CEO stated:“Fu­ture Group has one of In­dia’s big­gest pool of con­sump­tion-ori­ented cus­tomers, and its net­work con­nects with cus­tomers for a large wal­let share and at con­sis­tently high fre­quen­cies. With Gen­er­ali, we have an un­par­al­leled prod­uct and global insurance ex­per­tise that has the po­ten­tial to sig­nif­i­cantly in­crease the through­put of our re­tail net­work and scale at Fu­ture Gen­er­ali. Gen­er­ali has been a part­ner of huge trust for us, and we are de­lighted to strengthen our part­ner­ship with them.” The trans­ac­tion is ex­pected to close dur­ing the sec­ond half of 2018 sub­ject to reg­u­la­tory ap­proval and cus­tom­ary clos­ing con­di­tions. THE GEN­ER­ALI GROUP Gen­er­ali is an in­de­pen­dent, Ital­ian insurance group, with a strong in­ter­na­tional pres­ence. Es­tab­lished in 1831, it is among the world’s lead­ing in­sur­ers and is present in over 60 coun­tries with to­tal #$ & * + em­ploy­ees in the world and 57 mil­lion cus­tomers, the Group has a lead­ing po­si­tion in Western Europe and an in­creas­ingly sig­nif­i­cant pres­ence in Cen­tral and East­ern Europe as well as in Asia. FU­TURE GROUP Fu­ture Group is In­dia’s lead­ing in­te­grated con­sumer en­ter­prise with < #& & = + op­er­ates close to 2,000 re­tail stores span­ning over 23 mil­lion square feet and at­tracts over 450mil­lion foot­falls an­nu­ally. Col­lec­tively, th­ese re­tail chains are within a 5 kilometre ra­dius of more than 8,000 pin codes in the coun­try, out of the roughly 14,000 civil­ian pin codes in the coun­try. With pres­ence in all the states of In­dia, it is spread across over 255 cities and towns, and in an­other 6,000 ru­ral lo­ca­tions. Fu­ture Group also has one of In­dia’s most unique dig­i­tal pay­ment plat­forms - Fu­ture Pay, which has an ac­tive user base of over 6.5mil­lion and is grow­ing rapidly. Fu­ture Group also has one of the big­gest and most-ac­tive loy­alty bases of over 35mil­lion cus­tomers.

Frédéric de Cour­tois, Gen­er­ali Group CEO Global Busi­ness Lines &amp; In­ter­na­tional

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