Central Bank of India acquires over 24% stake in Future Generali's life and general insurance arms
Published on 05/06/2025 10:02 PM
Central Bank of India acquires over 24% stake in Future Generali's life and general insurance armsThe transaction received all necessary regulatory clearances, including approvals from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and the Competition Commission of India (CCI). Shares of Central Bank of India Ltd ended at ₹40.39, up by ₹0.15, or 0.37%, on the BSE.By Jomy Jos Pullokaran June 5, 2025, 10:02:03 PM IST (Published)2 Min ReadState-owned Central Bank of India on Thursday (June 5) announced the acquisition of a 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL) and a 25.18% stake in Future Generali India Life Insurance Company Limited (FGILICL). This move marks the bank's formal entry into both the life and general insurance sectors.
The transaction received all necessary regulatory clearances, including approvals from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and the Competition Commission of India (CCI).
With this acquisition, Central Bank of India will now be classified as a promoter in both Future Generali India Insurance and Future Generali India Life Insurance.
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Future Generali India Insurance Company was established in 2006 and is based in Mumbai is a prominent player in India’s general insurance sector. With a presence in over 150 locations nationwide, the company offers a wide array of insurance products across retail, commercial, rural, and personal segments, serving both individuals and corporate clients.
Future Generali India Life Insurance Company, incorporated in 2006 and headquartered in Mumbai, has a robust network spanning more than 1,300 locations across the country. The company delivers a broad spectrum of life insurance solutions, catering to the needs of both individual and group customers.
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Shares of Central Bank of India Ltd ended at ₹40.39, up by ₹0.15, or 0.37%, on the BSE.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsCentral Bank of Indiashare market today