Mumbai, January 15
Central Bank of India is set to marginally raise its ownership in Generali Central Insurance Company Limited and Generali Central Life Insurance Company Limited through the acquisition of additional minority equity stakes, strengthening its long-term association with the insurance businesses.
Transaction Overview
The proposed transaction involves Central Bank of India acquiring an additional 1.09 percent equity stake in Generali Central Insurance Company Limited and 0.82 percent equity stake in Generali Central Life Insurance Company Limited.At present, the bank holds 24.91 percent in Generali Central Insurance and 25.18 percent in Generali Central Life Insurance. Following the completion of the proposed acquisition, its shareholding in both entities will rise to approximately 26 percent.
The investment is described as a passive financial investment and does not entail any change in control, management structure, or strategic decision-making at either insurance company.
Businesses of the Companies
Central Bank of India is a scheduled commercial bank offering a broad range of banking and financial services, including deposits, loans, cards, foreign exchange, bancassurance, and trade finance.Generali Central Insurance Company Limited operates in the general insurance segment, offering products across personal, commercial, and social insurance categories. Its portfolio includes motor, health, travel, property, marine, engineering, liability, crop, livestock, and micro-insurance products, distributed through agents, banks, brokers, and other approved channels.
Generali Central Life Insurance Company Limited is engaged in life insurance and provides a diversified range of offerings such as savings plans, investment-linked plans, term insurance, health-related covers, child plans, retirement solutions, rural-focused policies, and group insurance products. Distribution is carried out through agents, corporate partners, banks, and intermediaries.
About the Company
Central Bank of India is a public sector bank listed on Indian stock exchanges, providing comprehensive banking and financial services across retail, corporate, MSME, and treasury segments, with a nationwide presence and a growing focus on fee-based income through bancassurance and allied financial services.Source:
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