Generali Group has launched a new business unit – Global Corporate & Commercial (GC&C) India – within its joint-venture company Future Generali India Insurance.
The moves further strengthens Generali’s presence in India’s rapidly growing corporate and commercial insurance segment, the company said.
Shib Shankar Saha has been appointed head of GC&C India and reports directly to Axel Roesner, head of GC&C Asia.
GC&C India is primed to deliver customized insurance solutions for medium and large enterprises in India. Its offerings include property, liability, financial lines, engineering, marine, cyber, and parametric insurance for multinational and domestic enterprises, as well as risk advisory services.
“India has been recognised globally as the fastest-growing major economy in recent years and the launch of GC&C India shows how Generali is fully in lockstep with the needs of local businesses,” commented Rob Leonardi, regional officer, Generali Asia.
“The Indian government’s strong focus on infrastructure development and further support of the manufacturing sector presents a significant opportunity for Generali to enter with its range of GC&C products,” Leonardi said.
“GC&C India enhances our ability to underwrite large and complex risks through delivery of tailored solutions that meet the evolving needs of our customers. As demand for corporate and commercial insurance has grown, the timing is just right for this launch and I’m excited to see the value we will deliver as our customers’ Lifetime Partner,” said Christian Kanu, CEO of GC&C.
“I have every confidence that this initiative will strengthen our value proposition and expand our presence in the rapidly growing Indian and broader Asian markets, in full alignment with our strategic vision,” Kanu added.
“As a prominent player in the Indian market, we have already established a strong presence in the local corporate and commercial segment, and we believe our new capabilities will further strengthen our focus and improve our ability to underwrite risks that are critical to support the nation’s growth,” according to Anup Rau, managing director and CEO of Future Generali India Insurance, which is a joint venture between Generali and the Future Group.
Source: Generali
Topics Commercial Lines Business Insurance New Markets India
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