Competition Commission of India has approved the proposed acquisition of 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life Insurance by Central Bank of India. The proposed combination envisages acquisition by Central Bank of India of 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL) and 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL) through bid/resolution plan submitted by Central bank of India under 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 & rural insurance etc.
FGILICL is a life insurance company. It provides savings insurance, investment plans (ULIP), term insurance plans, health insurance plans, child plans, retirement plans, rural insurance plans and group insurance plans.
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