Mumbai: Generali group headquartered in Italy is interested in increasing shares in the Indian joint venture with future groups so far.
Generally currently has 49% in generally industrial insurance companies in the future of the future which oppose 73% permitted in foreign investment laws (FDI).
Non-private non-life companies, which have become the fastest growing in the top 10 private insurance companies, have an established profitability track record since the break-even in 2014.
It has increased its market share from 3.1% at 3.9% in FY21 with a dirty written premium Rs 3,899 crore and is the largest generally operation in Asia.
Generali India’s future is now pursuing growth through an increase in the motor insurance portfolio, which is currently 38% of its portfolio.
Speaking to Toi, the future of the General India MD & CEO of Anup Rau said that the company did not need to switch to shareholders for equity since 2019 because the claim ratio was the best in the industry.
“The ratio of our losses is the lowest in the industry and better than some of our peers greater.
Our combined ratio for most industries is still above 100 because the industry has shown a two-digit growth for more than two decades now.
When we improve it, Our cost and our fixed costs will be financed above the larger upper line, reduce our combined ratio.
The key to controlling the loss ratio is the quality of emissions guarantees, “Rau said.
Uncertainty that future groups that are through the Amazon and Reliance group that are engaged in the upheaval of the ownership of Group companies have not affected insurance businesses.
Generali foreign pairs continue to support joint ventures.
“Generally is very passionate about India and the opportunities given by the new FDI regulations and they examine them.
They have reaffirmed several times that India is the market they will be interested in investing as much as possible,” said Rau.
He added that they were very patient and focused on building a long-term franchise, which would produce the return of healthy equity.
Rau added that the quality of guarantees has helped ensure a faster claim settlement and a better claim settlement ratio.
“We conducted a thorough test at the time of receiving proposals.
There is no emission guarantee when completing the claim.
In terms of clean promoter scores, we are one of the best in class not only among insurance companies in India and Asia but among the top 1% Global, cross service industry, “said Rau.
While the combined generation generation ratio in the future (the claim ratio and management costs to the total premium) is still more than 100%, he managed to remain profitable through investment income.
“We have also built Aum (assets under management) of a substantial amount.
So, this has helped us continue to encourage growth without running a capital deficit even at a combined ratio of more than 100%.
We are always profitable because we went bankrupt even in 2014.
This allows us to run a deficit in a combined ratio.
We don’t need capital since 2019, while we continue to grow significantly faster than industry.
“