GC&C India’s portfolio includes cyber, engineering, financial lines, liability, marine, parametric and property insurance. Credit: MTMSEVILLA/Shutterstock.

Italian insurance giant Generali Group has formed a new business unit, Global Corporate & Commercial (GC&C) India, within Future Generali India Insurance. 

The move is aimed at strengthening Generali’s presence in India and catering to the insurance needs of medium and large enterprises in the country. 

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Shib Shankar Saha will lead GC&C India, reporting directly to GC&C Asia head Axel Roesner. 

GC&C India’s portfolio includes cyber, engineering, financial lines, liability, marine, parametric and property insurance.  

In addition to these offerings, the unit will provide risk advisory services to both multinational and domestic enterprises. 

By leveraging Generali’s global network and local expertise, GC&C India aims to support enterprises in a changing environment. 

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Generali Asia regional officer Rob Leonardi said: “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.” 

GC&C CEO Christian Kanu stated: “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 am excited to see the value we will deliver as our customers’ Lifetime Partner.” 

Future Generali India Insurance Company is a joint venture (JV) between the Generali Group, holding a 74% majority stake, and the Future Group.  

GC&C offers insurance solutions and property and casualty services to medium and large companies, as well as intermediaries, across more than 180 countries. 

In November 2024, the Central Bank of India secured approval from the Reserve of India to venture into the insurance business through a JV with Generali.