The bank has successfully concluded the landmark acquisition of 24.91% equity stake in Future Generali India Insurance Company (FGIICL) and 25.18% equity stake in Future Generali India Life Insurance Company Limited
FinTech BizNews Service
Mumbai, June 27, 2025: Central Bank of India (CBI), one of the Country’s oldest and most trusted public sector
banks has successfully concluded the landmark acquisition of 24.91% equity stake in
Future Generali India Insurance Company (FGIICL) and 25.18% equity stake in
Future Generali India Life Insurance Company Limited (FGILICL) and completed the
discussions with Generali Group on Definitive Documents including Shareholders,
Trademark and Distribution Documents.
(L to R) M.V. Rao MD & CEO Central Bank of India and Shri Roberto Leonardi Asia Regional CEO Generali
This marks the culmination of a significant strategic initiative aimed at strengthening the
Bank’s presence in the insurance sector through its joint ventures in life and general insurance.
This strategic partnership is aimed at enhancing insurance penetration across India, delivering
innovative insurance products and ensuring deeper financial inclusion and enabling
in achieving Governments mission of “Insurance for All” by 2047. Combining Central
bank of India’s vast customer base and distribution network with Generali’s global
expertise in insurance solutions will provide customers with a robust portfolio of
products tailored to Indian market needs.
Established in 1911, central bank of India is one of the oldest and most respected
banks in the country with a network of over 4500 branches and 20000 plus
touchpoints. Generali is a leading global insurance and asset management provider
having presence in more than 50 countries and known for customer centric solutions.
Through this collaboration, Central Bank of India aims to unlock long-term value and
deliver a comprehensive range of life, general, and health insurance solutions to its
customers. The bank proposes to target its large customer base and also provide
insurance solutions to underserved customers, both in terms of geography as well as
their size. The bank aims at serving its customers with its strong branch network, a
dedicated workforce and worldclass technology.
Central Bank of India acknowledges Ashvin Parekh Advisory Services LLP (APAS)
as its business and transaction advisor from the inception of this initiative. APAS has
provided support, including advisory on successful bidding with the resolution
professional (RP), valuation and due diligence oversight etc. Central bank of India
also acknowledges Cyril Amarchand MangalDas (CAM), a leading law firm for the
support and legal services provided for finalization of legal and transactional
documents.
