Central Bank of India buys 24.91% stake in Future Generali for Rs 451 cr

State-owned Central Bank of India on Thursday said it has acquired a 24.91 per cent stake in Future Generali India for Rs 451 crore.

By Connect Gujarat Desk 05 Jun 2025 in Business

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Central Bank of India buys 24.91% stake in Future Generali for Rs 451 cr

State-owned Central Bank of India on Thursday said it has acquired a 24.91 per cent stake in Future Generali India for Rs 451 crore.

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Additionally, it acquired a 25.18 per cent stake in Future Generali India Life Insurance for Rs 57 crore, according to exchange filings.

The acquisition of shares was completed on 4 June 2025. The bank has received approval from the Competition Commission of India (CCI), Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (Irdai).

Future Generali’s life and general insurance arms were set up in 2006 as joint ventures between Future Enterprises Ltd (FEL) and the Generali Group, with the latter holding nearly 74 per cent shareholding in each company.

The multi-line general insurer, which provides personal insurance, commercial insurance, social and rural insurance, posted 21.06 per cent year-on-year (YoY) growth in gross direct premium income (GDPI) in FY25 to Rs 527.8 crore.

The company’s gross written premium was Rs 4,910.9 crore in FY24, compared to Rs 4,546.23 crore in FY23.

The life insurance arm sells savings insurance, investment plans (unit-linked insurance plans or ULIPs), term insurance plans, health insurance plans, child plans, retirement plans, rural insurance plans and group insurance plans.

The new business premium (NBP) of the company was 95.7 per cent higher YoY in FY25 at Rs 1,192.2 crore, up from Rs 609.21 crore in FY24. The gross written premium was Rs 1,810.53 crore in FY24, compared to Rs 1,758.01 crore in FY23.

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