Approved proposed acquisition of 24.91 percent shareholding in Future Generali India Insurance
Delhi. The Competition Commission of India has approved the proposed acquisition of 24.91 percent shareholding in Future Generali India Insurance and 25.18 percent shareholding in Future Generali India Life Insurance by Central Bank of India. The proposed combination involves acquisition of 24.91 percent equity stake in Future Generali India Insurance Company Limited (FGIICL) and 25.18 percent equity stake in Future Generali India Life Insurance Company Limited (FGILCL) by Central Bank of India. This will be done through a bid and resolution plan submitted by Central Bank of India under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.
Central Bank of India is a scheduled commercial bank.
FGIICL is a general insurance company. It provides personal insurance, commercial insurance, social and rural insurance etc.
FGILCL is a life insurance company. It offers savings insurance, investment plans (ULIP), term insurance plans, health insurance plans, child plans, retirement plans, rural insurance plans and group insurance plans.
