Central Bank of India has informed the Exchange about signing of agreements pursuant to acquisition of equity stake in Future Generali India Insurance Company Ltd
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Central Bank of India has formally executed three key agreements on 27th June 2025 in connection with its 24.91% equity stake acquisition in Future Generali India Insurance Company Ltd (FGIICL). The three agreements are: a Shareholders Agreement with Generali Participations Netherlands N.V. and FGIICL, a 10-year Trademark License Agreement allowing Generali to use the Bank's trademarks, and a 6-year Distribution Agreement under which the Bank will act as a Corporate Agent for soliciting insurance business. The Bank will have the right to nominate directors, first right on share subscription, and the ability to restrict capital structure changes in FGIICL. Generali Group continues to hold the majority 74% stake in FGIICL, which is now classified as an associate company of the Bank.
This is a positive strategic development for shareholders, as it formalizes the Bank's entry into the general insurance distribution business through a partnership with a major global insurance brand, creating a new fee-income stream. The structured agreements protect the Bank's interests through director nomination rights and capital structure controls.