Last Updated:June 06, 2025, 11:55 IST
Investors haven’t cheered up the acquisition as anticipated with shares falling 2 percent intraday on Friday, June 6.
Public Sector Bank Central Bank
Central Bank of India has made a significant move by acquiring substantial equity stakes in Future Generali India Insurance Company Limited (FGIICL) and Future Generali India Life Insurance Company Limited (FGILICL). This marks the bank’s strategic entry into both the life and general insurance markets.
The required approvals from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and Competition Commission of India (CCI) were secured before the share transfer was finalized.
Key Highlights of the Transaction:
General Insurance (FGIICL) – Target Entity: Future Generali India Insurance Company Limited – Nature of Business: General Insurance – Equity Stake Acquired: 24.91% – Completion Date: June 4, 2025
Life Insurance (FGILICL) – Target Entity: Future Generali India Life Insurance Company Limited – Nature of Business: Life Insurance – Equity Stake Acquired: 25.18% – Completion Date: June 4, 2025
As a result of this acquisition, Central Bank of India will now be classified as a promoter of both insurance entities. FGIICL, established in 2006 and headquartered in Mumbai, has a strong presence in India’s general insurance sector with operations in over 150 locations. The company offers a wide range of insurance products for retail, commercial, rural, and personal segments, catering to both individuals and corporate clients.
Similarly, FGILICL, also founded in 2006 and based in Mumbai, operates through a vast network of over 1,300 locations nationwide. It provides a comprehensive range of life insurance solutions for both individuals and groups.
This strategic acquisition highlights Central Bank of India’s dedication to delivering long-term value for its stakeholders by expanding into promising financial services sectors. The bank aims to diversify its portfolio and enhance its footprint in the rapidly growing Indian insurance market through this acquisition.
Investors haven’t cheered up the acquisition as anticipated as shares fell 2 per cent intraday on Friday, June 06. The scrip was trading at Rs 39.55 apiece, with a fall of 2 per cent. Earlier, it opened at Rs 40.60 apiece, against the previous day close at Rs 40.36 apiece.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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