The Competition Commission of India (CCI) has granted approval for Central Bank of India’s acquisition of significant equity stakes in Future Generali’s insurance ventures. The acquisition sees the bank securing a 24.91% stake in Future Generali India Insurance Company Ltd (FGIICL) and 25.18% in Future Generali India Life Insurance Company Ltd (FGILICL).
This strategic move is part of a bid under the Insolvency and Bankruptcy Board of India’s framework, strengthening Central Bank of India’s foothold in the insurance sector. Future Generali India Insurance specializes in general insurance, providing products across personal, commercial, and rural segments, while Future Generali India Life Insurance offers life insurance services, including ULIPs, term insurance, and retirement plans.
The deal aligns with Central Bank of India’s vision to diversify its portfolio and enhance its presence in the rapidly growing Indian insurance market.
