Key Highlights

• Central Bank of India completes acquisition of 24.91% equity stake in Future Generali India Insurance.
• The acquisition strengthens Central Bank’s presence in the insurance sector, expanding its strategic investment portfolio.

The Central Bank of India has completed its acquisition of a 24.91% equity stake in Future Generali India Insurance Company Ltd. (FGIICL), marking its entry into the insurance industry. The scheduled commercial bank announced a filing to the exchanges on Thursday that the acquisition, valued at up to ₹451 crore, was completed on June 4, 2025, after receiving all necessary regulatory approvals.

The development comes after a lengthy resolution process involving debt-laden Future Enterprises Ltd (FEL), which previously owned a 25% stake in FGIICL. The Central Bank of India was chosen as the successful bidder for FEL's stake in the general insurance joint venture by the Committee of Creditors under the Insolvency and Bankruptcy Code (IBC) process in August of last year. The Letter of Intent confirming the bank's acquisition was received on August 20, 2024, pursuant to Regulation 29 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

The CCI authorized the bank's intended investment in Future Generali India Insurance and Future Generali India Life Insurance prior to the completion of the acquisition. The IRDAI and the RBI both granted the transaction the required approval.

Future Generali India Insurance which was started in 2006 and is based in Mumbai, functions across more than 150 locations in India. It makes a variety of products available in retail, commercial, personal and rural markets. For FY24, the company recorded Gross Written Premium (GWP) as ₹4,910.89 crore which rose from ₹4,546.23 crore in FY23.

Also Read: Insurance Premiums Outpace India's Health Budget, Raising Equity Concerns

General, a leading insurer, owned 74% of the venture just before the transaction. Buying the stake aligns with how the Central Bank aims to diversify its income streams and start business in the insurance industry using a reputable partner.

At that time, the NSE showed shares of Central Bank of India at ₹40.39, with the price going up 0.42% from where it closed the previous day which was ₹40.22. The opening price of the stock was ₹40.60 and it hit an intraday high of ₹40.75 which was 1.32% higher than yesterday’s closing price.