Mumbai, June 6, 2025: Central Bank of India acquired 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL) and 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL), marking the Bank’s strategic entry into both the life and general insurance sectors.
Necessary approvals from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and Competition Commission of India (CCI) were obtained prior to completion of share transfer.
Key Highlights of the Transaction:
| FGIICL (General Insurance) | FGILICL (Life Insurance) | |
| Target Entity | Future Generali India Insurance Company Limited (FGIICL) | Future Generali India Life Insurance Company Limited (FGILICL) |
| Nature of Business | General Insurance | Life Insurance |
| Equity Stake Acquired | 24.91% | 25.18% |
| Completion Date | June 4, 2025 | June 4, 2025 |
Pursuant to this transaction, Central Bank of India will be classified as a promoter in both Future Generali India Insurance & Future Generali India Life Insurance.
FGIICL, established in 2006 and 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.
FGILICL, also 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.
This acquisition underscores Central Bank of India commitment to creating long-term value for its stakeholders by expanding into high-potential financial services verticals. The Bank aims to diversify its portfolio and strengthen its presence in the fast-growing Indian insurance industry through acquisition.
