Mumbai, Aug. 24 -- Generali Central Life Insurance is targeting a 30-35% growth in new business; the expanded joint venture with Central Bank is expected to serve as a key growth driver for the company.

In an interview with a major news outlet, Alok Rungta, Managing Director and CEO of Generali Central Life Insurance, stated that the company could reach an annual business volume of Rs.500 crore from Central Bank within three years.

Advocating for a differentiated approach to commissions for insurance distribution, Rungta emphasized that remuneration should reflect the effort involved as well as the quality and sustainability of the business. He noted that the cost of 'term insurance' has dropped significantly following GST changes and m...