Central Bank of India gets CCI nod to buy Future Generali stakes

The Competition Commission of India (CCI) 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 the Central Bank of India, the scheduled commercial bank said in a statement. 

The proposed combination envisages acquisition through a bid or resolution plan submitted by Central Bank of India under Insolvency and Bankruptcy Code (IBC) process.

 FGIICL is a general insurance company. It provides personal insurance, commercial insurance, social and rural insurance. 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.

Published – October 15, 2024 08:54 pm IST

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