Central Bank of India (NSE: CENTRALBK, BSE: 532885) has acquired a 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL) for ₹451 crore, completing its strategic entry into the insurance sector. Following approvals from the RBI, CCI, and IRDAI, the transaction closed June 4, 2025.
Transaction Overview
- Shares Acquired: 35,06,30,136 equity shares (24.91% of FGIICL’s paid-up capital).
- Consideration: Cash payment of up to ₹451 crore.
- Strategic Rationale: The bank’s expansion into general insurance leverages FGIICL’s significant market presence and its gross written premiums of ₹4,910.89 crore for the fiscal year 2023-24, thereby enhancing the bank’s overall portfolio.
Target Company Profile:
FGIICL, founded in 2006 and headquartered in Mumbai, operates more than 150 business locations across India. The company specializes in retail, commercial, and rural insurance solutions, with Italy’s Generali Group holding a 74% stake. Key financial highlights include:
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Gross Written Premium:
- FY2023-24: ₹4,910.89 crore (audited)
- FY2022-23: ₹4,546.23 crore
- FY2021-22: ₹4,210.35 crore.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
