Central Bank stake to double bancassurance for company: Future Generali MD

The stake acquisition by Central Bank of India in Future Generali India Insurance is expected to double sales through the bancassurance channel from the existing 6–7 per cent over the next three to five years, Anup Rau, Managing Director (MD) & Chief Executive Officer (CEO) of the company, said.

 

“Bancassurance typically accounts for around 6 per cent of the general insurance industry’s overall business. For Future Generali also, the share of banca is currently around 6–7 per cent. The company hopes to double the share of bancassurance to total business to close to 10–12 per cent in the next three to five years,” Rau said.

 

 

State-owned Central Bank of India acquired a 24.91 per cent stake in Future Generali India Insurance for ₹451 crore. The acquisition was completed on 4 June 2025 and 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). The remaining stake is held by the Italy-based Generali Group.

 

The bank partnership is also expected to provide access to its wide customer base and an opportunity to expand into remote and rural areas of the country, which will further boost business growth for the company. The multi-line general insurer ended the financial year 2025 with ₹5,408.16 crore in gross written premium, which it targets to grow to ₹10,000 crore by FY30.

 

“We will grow faster than the industry. If the industry is going to grow at 10–12 per cent, we will go higher. Among the top 10 players, we were the third fastest growing last year. The Central Bank makes it possible for us to reach remote corners of the country and having a brick-and-mortar structure makes it possible to penetrate the smallest panchayat. I think we’ll continue to be among the fastest growing ones. We aim to touch the ₹10,000 crore premium mark by FY30,” Rau said.

 

The insurer recorded 10 per cent growth in FY25, outperforming the industry, which grew 6.5 per cent during the year amid the new accounting norms and muted performance in the health and motor segments. Going forward, the company aims to maintain above-industry growth, even as the sector continues to adjust to revised accounting practices.