Central Bank of India has acquired significant stakes in Future Generali India Insurance and Future Generali India Life Insurance to enhance its portfolio in the growing Indian insurance sector.

Target Information

The Central Bank of India has strategically entered the insurance sector by acquiring significant equity stakes in two prominent firms: Future Generali India Insurance Company Limited (FGIICL) and Future Generali India Life Insurance Company Limited (FGILICL). As of June 4, 2025, the Bank holds a 24.91% stake in FGIICL and a 25.18% stake in FGILICL, following the approval from the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and the Competition Commission of India (CCI). This acquisition also positions the Central Bank of India as a promoter in both insurance companies.

FGIICL was established in 2006 and is headquartered in Mumbai. It has emerged as a significant player in the general insurance landscape, operating across over 150 locations in India. The company offers a diverse range of insurance products that cater to both individual and business needs, encompassing sectors such as retail, commercial, rural, and personal insurance.

Industry Overview

The Indian insurance sector has been experiencing rapid growth fueled by a rising middle class, increasing awareness about insurance products, and regulatory support for market expansion. The insurance market in India is projected to grow significant