CAM, TT&A act on Central Bank of India-Generali Group JV

Central Bank of India has entered into joint venture arrangement with Italian insurer Generali Participations Netherlands N.V. and other Generali Group entities.

Cyril Amarchand Mangaldas advised Central Bank of India on this JV.

Central Bank of India entered into the following agreements:

1. shareholders agreement with Generali Participations Netherlands N.V. (Generali) and Future Generali India Life Insurance Company Limited (FGILICL);

2. shareholders agreement with Generali and Future Generali India Insurance Company Limited (“FGIICL”);

3. trademark licensing agreement with Generali; 

4. corporate agency agreement with FGILICL; and

5. corporate agency agreement with FGIICL.

CAM transaction team was led by Indranath Bishnu (Partner and Head - Insurance) and Pranjita Barman (Partner); with support from Anirud Sudarsan R, Principal Associate; Subhalaxmi Hota (Associate); and Saakshi Tibrewal (Associate).

TT&A advised the Generali Group on this JV.

The transaction team was led by Deepa Christopher (Partner) and Rebha Dakshini (Partner), with assistance from Chhavi Singhal (Senior Associate), Samiksha Kothari (Senior Associate) and Pranav Kandada (Associate).

Kunal Thakore (Partner) provided strategic inputs.

Central Bank of India has acquired 25.18% in FGILICL and 24.91% in FGIICL, through the corporate insolvency resolution process of Future Enterprises Limited under the Insolvency and Bankruptcy Code, 2016.

The deal marks the culmination of a significant strategic initiative combining Central Bank’s vast customer base and distribution network with Generali’s global expertise in insurance solutions. The partnership with Central Bank will enhance Generali’s market presence, strengthening its brand positioning and distribution capabilities in both FGIIC and FGLIC and enhancing insurance penetration across India.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.