Future Generali India : Life Insurance Company from Pantaloon

Future Generali, the insurance joint venture of Pantaloon Retail India and Italian insurance firm The Generali Group has been approved by the Insurance Regulatory & Devlopment Authority of India (IRDA).

Pantaloon has informed the media, that they got the approval from the IRDA and recieved the certificate for Future Generali India Life Insurance Company Ltd (which caters to the Life Insurance Sector) and Future Generali  India Insurance Company Ltd which will have its operations in General Insurance sector in India.

Pantaloon will hold 74% stake in Future Generali and Generali of Italy will hold 26% stake in the Joint Venture.Of the 74% Pantaloon stake in Future Generali, the Pantaloon Retail will take 56%, while Pantaloon Industries will hold 18%.