Central Bank of India Acquires 25.18% Stake in Future Generali India Life Insurance Company

Central Bank of India has executed Shareholders Agreement (SHA), Trademark Licence Agreement (TMLA), and Distribution Agreement (DA) with Generali Participations Netherlands N.V. and Future Generali India Life Insurance Company Limited (FGILICL). The Bank has acquired a 25.18% equity stake in FGILICL. The SHA records the roles and rights of the parties, TMLA grants the Bank a non-exclusive, revocable, non-transferable, non-assignable, licensable license in the Trademarks owned by the Bank, and DA is for a corporate tie-up for Life insurance policy business. The agreements are valid for ten years (TMLA) and six years with a renewal option for three years (DA). FGILICL is an associate company of the Bank.