Central Bank of India acquires 25.18% stake in Future Generali Life for Rs 57 crore and 24.91% in General Insurance arm for Rs 451 crore
By Aditya Bhagchandani Published on June 5, 2025, 11:32 IST
Central Bank of India has announced two strategic acquisitions in the insurance sector, acquiring equity stakes in both Future Generali India Life Insurance Company Limited (FGILICL) and Future Generali India Insurance Company Limited (FGIICL).
According to filings made to the stock exchanges on June 5, 2025, the bank acquired a 25.18% stake in FGILICL for up to Rs 57 crore, translating to 65.44 crore shares, and a 24.91% stake in FGIICL for up to Rs 451 crore, equating to 35.06 crore shares. Both acquisitions were made via cash consideration following the approval of regulatory authorities including the RBI, IRDAI, and CCI.
Future Generali India Life Insurance posted gross written premiums of Rs 1,810.53 crore for FY24, while its general insurance counterpart reported Rs 4,910.89 crore in gross direct premiums.
This move marks Central Bank of India's formal entry into the insurance sector, identifying both entities as established players available at reasonable valuations. The bank intends to diversify and strengthen its financial services portfolio through these acquisitions.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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