Central Bank of India buys 24.91% stake in Future Generali for Rs 451 cr

State-owned Central Bank of India buys 24.91% stake in Future Generali India and 25.18% in its life insurance arm following approvals from CCI, RBI and IRDAI

State-owned Central Bank of India on Thursday said it has acquired a 24.91 per cent stake in Future Generali India for Rs 451 crore. Additionally, it acquired a 25.18 per cent stake in Future Generali India Life Insurance for Rs 57 crore, according to exchange filings.

 

The acquisition of shares was completed on 4 June 2025. The bank has received approval from the Competition Commission of India (CCI), Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (Irdai).

 

  Future Generali’s life and general insurance arms were set up in 2006 as joint ventures between Future Enterprises Ltd (FEL) and the Generali Group, with the latter holding nearly 74 per cent shareholding in each company.

 

The multi-line general insurer, which provides personal insurance, commercial insurance, social and rural insurance, posted 21.06 per cent year-on-year (YoY) growth in gross direct premium income (GDPI) in FY25 to Rs 527.8 crore. The company’s gross written premium was Rs 4,910.9 crore in FY24, compared to Rs 4,546.23 crore in FY23.

 

The life insurance arm sells savings insurance, investment plans (unit-linked insurance plans or ULIPs), term insurance plans, health insurance plans, child plans, retirement plans, rural insurance plans and group insurance plans. The new business premium (NBP) of the company was 95.7 per cent higher YoY in FY25 at Rs 1,192.2 crore, up from Rs 609.21 crore in FY24. The gross written premium was Rs 1,810.53 crore in FY24, compared to Rs 1,758.01 crore in FY23. 

Sebi issues 2 warning letters to NSDLfornon-compliance 

 

Sebi has issued two warning letters to National Securities Depository (NSDL) for alleged lapses in compliance. The IPO-bound depository firm disclosed the details of the letters issued on June 3. Thefirstletter is aboutnon-visibility of securities in the demat account of investors on the day of IPO allotment andfor going live with standardisation of file formats without conducting adequate testing.

 

The other warning letter was around failure in properly tracking all the cyberalerts, ensure their resolution within the stipulated timelines, maintaining correct and comprehensive details of all its assets, conduct comprehensive review of its critical assets andensure activemonitoring of allits assets,amongothers. 

 

Mirae Assetforays into SIFs under ‘Platinum’ brand

 

Mirae Assetforays into SIFs under ‘Platinum’ brand Mirae Asset Investment Managers (India) on Thursday announced they have secured approval from Sebi to enter the specialised investment funds (SIFs) space. The fund house will operate its SIF businessunder thebrandname‘Platinum’. “Itmay allowus toexplore sharper, strategy-ledapproaches while continuing to prioritise investor clarity and transparency,” said Swarup Anand Mohanty, vicechairman &CEO,MiraeAssetAMC.