Italian insurance giant Generali has announced the establishment of Global Corporate & Commercial (GC&C) India within Future Generali India Insurance, on January 1st, 2025, which will be led by Shib Shankar Saha as Head of GC&C India.
The move marks the insurer’s entry into the regional market and aims to strengthen Generali’s position in India’s growing corporate and commercial segment.
In his new role, Saha reports directly to Axel Roesner, Head of GC&C Asia.
The Indian subsidiary is primed to deliver customised insurance solutions for medium and large enterprises in India, the company said.
The offerings encompass property, liability, financial lines, engineering, marine, cyber, and parametric insurance for multinational and domestic enterprises, and risk advisory services.
Utilising Generali’s deep local knowledge and extensive global network, GC&C India is well-positioned to support enterprises amid a quickly developing business environment.
Rob Leonardi, Regional Officer, Generali Asia, commented, “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.
“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. The positive outlook for the coming years makes this move a strategic, long-term investment in one of the world’s most dynamic economies.”
Christian Kanu, Chief Executive Officer (CEO), GC&C, added, “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.
“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.”
Anup Rau, Managing Director & CEO of Future Generali India Insurance, concluded, “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. We are confident that GC&C India will not only enhance our customer proposition but also help expand the market.”
