Future Generali India Life Insurance enters into a strategic partnership with JM Financial Services for wider insurance reach

Mumbai, 27th July 2023: Future Generali India Life Insurance Co. Ltd., a leading life insurance provider, is pleased to announce a strategic alliance with JM Financial Services, a prominent financial services group. This partnership marks a significant step for Future Generali India Life Insurance as it aims to elevate its insurance product offerings and extend its market presence across the country.

The collaboration with JM Financial Services will unlock new opportunities for Future Generali India Life Insurance to diversify its product portfolio and leverage on their distribution and financial advisory capabilities. The partnership will capitalize on the strengths of both organizations, with an amalgamation of innovative products offered by Future Generali India Life Insurance and comprehensive distribution capabilities of JM Financial Services, creating synergies that will empower individuals, families, and businesses to secure their financial future.

Key Features of the Partnership:

  • Expanded Insurance Offerings: The partnership will enable Future Generali India Life Insurance to augment the reach of its product range, providing customers with sustainable solutions to lead a financially secure future.
  • Enhanced Distribution Network: As part of this partnership, Future Generali India Life Insurance will gain access to JM Financial Services' extensive network and well-established distribution channels, which include 54 branches, 725 Business Affiliates, and over 9000 Active Financial Distributors. This will enable Future Generali India Life Insurance to reach a larger customer base of 2.20 lacs and cater to the diverse needs of individuals, corporations, and financial institutions.
  • Customer-Centric Approach: Both Future Generali India Life Insurance and JM Financial Services share a common commitment to prioritizing customers' needs. Through this collaboration, the focus will remain firmly on delivering exceptional customer experiences.

Mr. Bruce de Broize, Managing Director & CEO of Future Generali India Life Insurance Co. Ltd., expressed appreciation for the alliance, stating, "Our partnership with JM Financial Services marks a significant milestone for Future Generali India Life Insurance. This collaboration will enable us to provide comprehensive and innovative insurance solutions to a wider audience. We are excited about the potential this alliance holds and how it will strengthen our dedication to ensuring financial security for customers, making insurance more accessible and affordable for all segments of society."

Mr. Dimplekumar Shah, Managing Director & Co-Head - Equity Broking Group at JM Financial Services, said, “We are happy to partner with Future Generali Life Insurance Company Ltd. and are confident that our strategic alliance will enable value creation across the board. Our key task is to empower our customers with this significant financial protection tool and make it accessible for everyone. With this tie –up, our customers can choose from a comprehensive suite of insurance products and plan for a financially secure future. We remain committed to serving the evolving needs of our customers and helping them achieve their life goals.”

Mr. Nirav Gandhi, Whole-time Director & Chief Operating Officer at JM Financial Services, expressed,We are delighted to partner with Future Generali India Life Insurance Company Ltd to offer comprehensive insurance solutions to our customers. This collaboration reflects our  commitment to providing top-notch financial services and empowering individuals with a wide range of insurance products. Together, we aim to make a positive impact on the lives of people across the nation. This partnership will enable us to fulfill our vision of enabling our customers – existing and new – to understand the value of life insurance better, and thereby make a more informed decision on why it is useful for them."

With this strategic alliance, Future Generali India Life Insurance Company Ltd will be poised to leverage the expertise and network of JM Financial Services as it expands its market presence. JM Financial Services' partnership with Future Generali India Life Insurance will involve active promotion of our comprehensive range of insurance products to its valued customer base. Moreover, gaining access to JM Financial Services' extensive portfolio will enable Future Generali to offer even more tailored and innovative solutions to its customers. Working together on all channels, the partnership brings about immense growth opportunities, empowering individuals and businesses across the nation with superior financial protection and a secure future.

About Future Generali India Life Insurance Ltd.

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 front. The company is backed by Generali and Future Group. As of today, 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.

About JM Financial

JM Financial is an integrated and diversified financial services group. The Group’s primary businesses include (i) Investment Bank (IB) shall cater to Institutional, Corporate, Government and Ultra High Net worth clients and includes investment banking, institutional equities and research, private equity funds, fixed income, syndication and finance; (ii) Mortgage Lending includes both wholesale mortgage lending and retail mortgage lending (affordable home loans and secured MSME); (iii) Alternative and Distressed Credit includes the asset reconstruction business and alternative credit funds; and (iv) Asset management, Wealth management and Securities business (Platform AWS) shall provide an integrated investment platform to individual clients and includes wealth management business, broking, PMS and mutual fund business. The Group is headquartered in Mumbai and has a presence across 744 locations spread across 206 cities in India. The equity shares of JM Financial Limited are listed in India on the BSE and NSE. For more information, log on to www.jmfl.com or contact:

About JM Financial Services

JM Financial Services Limited is one of India’s finest brokerage firm offering broking and comprehensive investment management services to individuals, institutions and corporates. With a wide range of offerings from Equity Broking, Wealth Management, Portfolio Management Services and Distribution of financial instruments like Mutual Funds, Insurance, Bonds, we empower investors with the right products and research advice to achieve every financial goal. For more information, log on to www.jmfinancialservices.in.

For further information, please contact:

Manali Pilankar
Associate Director, Corporate Communications
Email: manali.pilankar@jmfl.com
Tel: +91 22 6630 3475