New Delhi: Central Bank of India, one of the Country’s oldest and most trusted public sector banks has successfully concluded the landmark acquisition of 24.91 per cent equity stake in Future Generali India Insurance Company (FGIICL) and 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) and completed the discussions with Generali Group on Definitive Documents including Shareholders, Trademark and Distribution Documents.
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.