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Yahoo
2 days ago
- Business
- Yahoo
Central Bank of India forms joint venture tie-up with Generali
Central Bank of India (CBI), a public sector bank, has announced a joint venture partnership with Italian insurer Generali. Earlier in June 2025 the state-owned bank acquired a 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL) and a 24.91% stake in Future Generali India Insurance Company Limited (FGIICL). The collaboration aims to strengthen Generali's brand positioning and distribution capabilities in both life and property and casualty (P&C) insurance segments in India. Under the shareholders agreement, both parties have rights to nominate directors, a first right to share subscription in case of new share issuances, and influence over changes in capital structure and certain day-to-day operations of FGILICL. Central Bank of India has also granted Generali a non-exclusive, revocable, non-transferable, and non-assignable licence to use its trademarks under a trademark licence agreement for ten years. A distribution agreement (DA) appoints Central Bank of India as a corporate agent for FGILICL to solicit and procure insurance business. The agreement spans six years, with renewal provisions every three years thereafter. Generali Group Asia regional officer Rob Leonardi said: 'This partnership is a strong vote of confidence in our business in India. Working with Central Bank of India is an opportunity to go from strength to strength in an important growth market for Generali and comes at a good time on the back of the launch of our new strategic plan. 'Our combined strengths have the potential to carry our Lifetime Partner proposition to new heights – from better brand recognition to enhanced distribution capabilities, all supported by our strong strategy.' Set up in 1911, Central Bank of India is a public sector bank with more than 4,500 branches serving more than 80 million customers. "Central Bank of India forms joint venture tie-up with Generali " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Economic Times
08-05-2025
- Business
- Economic Times
Generali readies capital infusion plans for India JV
Generali Group plans to inject capital into its Indian venture to expand operations, anticipating the increase in foreign direct investment in the insurance sector to 100%. While the specifics of the infusion are pending shareholder agreement finalization, Generali intends to maintain a 74% equity stake and collaborate with Central Bank, its new partner after the Future Group's insolvency proceedings. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Banking/Finance 1. Generali readies capital infusion plans for India JV Milan: Italy's Generali Group has drawn up plans for capital infusion in its Indian venture to scale up its business in the country. India is set to raise foreign direct investment in the insurance sector to 100% from 74%, which would allow this capital infusion."We do expect that there will likely be a need for capital injection but we will have a better idea on that once the shareholder agreements are concluded, which are still in process," Rob Leonardi, Regional Officer, Generali Asia, told ET on the sidelines of the 58th annual meeting of the Asian Development Bank declined to give details about the quantum or time frame of the capital infusionGenerali forayed into India's insurance sector in 2007 with a tie-up with the Future Group. Central Bank has acquired shares from the Future Group as part of the insolvency process including 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life said the group will continue with 74% equity even as the option to raise it 100 % is expected (with the increase in FDI cap). "We are very much looking forward to developing our partnership with Central Bank and working with them," he Indian government is expected to introduce the Insurance amendment bill to raise the foreign investment limit to 100% in the upcoming monsoon is the second largest market for the group in Asia, he noted.(The reporter is in Milan at the invitation of ADB)
Time of India
08-05-2025
- Business
- Time of India
Generali readies capital infusion plans for India JV
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Milan: Italy's Generali Group has drawn up plans for capital infusion in its Indian venture to scale up its business in the country. India is set to raise foreign direct investment in the insurance sector to 100% from 74%, which would allow this capital infusion."We do expect that there will likely be a need for capital injection but we will have a better idea on that once the shareholder agreements are concluded, which are still in process," Rob Leonardi, Regional Officer, Generali Asia, told ET on the sidelines of the 58th annual meeting of the Asian Development Bank declined to give details about the quantum or time frame of the capital infusionGenerali forayed into India's insurance sector in 2007 with a tie-up with the Future Group. Central Bank has acquired shares from the Future Group as part of the insolvency process including 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life said the group will continue with 74% equity even as the option to raise it 100 % is expected (with the increase in FDI cap). "We are very much looking forward to developing our partnership with Central Bank and working with them," he Indian government is expected to introduce the Insurance amendment bill to raise the foreign investment limit to 100% in the upcoming monsoon is the second largest market for the group in Asia, he noted.(The reporter is in Milan at the invitation of ADB)
