Generali Group to acquire FGLIC by GPN

New Delhi India January 24, ANI The Competition Commission of India CCI has approved the acquisition of shares of Future Generali India Life Insurance Company Limited FGLIC by Generali Participations Netherlands N.V GPN, which will increase GPN's shareholding in FGLIC from 49 per cent to nearly 71 per cent.

The proposed acquisition relates to an increase in the shareholding of an existing shareholder, i.e. Generali Participations Netherlands N.V. GPN Acquirer in Future Generali India Life Insurance Company Limited FGLIC Target the Competition Commission of India CCI said in a statement.

GPN is a wholly owned subsidiary of Assicurazioni Generali S.p. A Generali Group is the ultimate parent of the Generali group of companies. Generali Group is a global insurance provider in India and is present in the Indian life insurance industry through FGLIC. GPN is involved in the provision of life insurance services in India through FGLIC.