Canara HSBC Life Insurance

Last updated

Canara HSBC Life Insurance
Company type Private
Industry Life insurance
Founded2008
Headquarters
Gurgaon, Haryana
,
India
Area served
Worldwide
Key people
Products
Owner
Website www.canarahsbclife.com

Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram. [5] Established in 2008, Canara HSBC Life Insurance [6] was a joint venture between Canara Bank (36.5%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life Insurance after the exit of its third partner, Punjab National Bank. [6] [7]

Contents

The company provides life, health, online term plans, credit life and employee benefit segments. [8] [9]

History and overview

The company was set up in 2008. In February 2014, Canara HSBC Life Insurance [7] introduced the concept of online revival of the policy, enabling customers to reinstate a lapsed policy and allows to pay their premium online. [10]

It partnered with 3 rural regional banks, Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in 2009 and South Malabar Gramin Bank in 2010. [11] The company partnered with Dhanlaxmi Bank in June 2017. [12] It also tied up with Can Fin Homes and [13] IndianMoneyInsurance.com. [14] In April 2020, Oriental Bank of Commerce merged with Punjab National Bank. [15] [16] On 15 June 2022, the company rebranded as Canara HSBC Life Insurance. [17]

See also

References

  1. ↑ "Canara HSBC OBC Life Insurance appoints Anuj Mathur as CEO". The Economic Times. 10 June 2015.
  2. ↑ Dash, Sanchita (21 February 2018). "These are the Next Big Things in Insurtech Believes this Insurance Top Honcho". Entrepreneur.
  3. ↑ "Tarun Rustagi, CFO, Canara HSBC Oriental Bank Of Commerce Life Insurance - The CFO Wall". etcfo.com. Retrieved 8 September 2021.
  4. ↑ Sarang, Bindisha. "Missing nominations can pose a challenge to heirs". Rediff. Retrieved 10 September 2021.
  5. ↑ "Canara Bank, life insurance arm launch 'Webassurance'". Business Today. 27 April 2019.
  6. 1 2 Shetty, Mayur (16 June 2022). "Canara HSBC Life rebrands due to PNB exit". The Times of India. Retrieved 17 June 2022.
  7. 1 2 "Canara HSBC OBC Life Insurance rebranded as Canara HSBC Life Insurance". mint. 15 June 2022. Retrieved 17 June 2022.
  8. ↑ "Bank Merger: 6 things OBC, UBI customers should know about debit cards, cheque books to passbooks post merger with PNB". zeebiz.com. 13 April 2020.
  9. ↑ "Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank". Punjab National Bank.
  10. ↑ "HSBC Oriental Bank of Commerce Life Insurance Company launches online revival of policies". The Economic Times. 25 February 2014.
  11. ↑ "Introduction". Canarahsbclife.com. Archived from the original on 19 August 2013. Retrieved 12 July 2020.
  12. ↑ Kumar, Krishna (6 June 2017). "Canara HSBC Oriental Bank of Commerce Life Insurance ties up with Dhanlaxmi Bank". The Economic Times.
  13. ↑ "Canara HSBC OBC Life Insurance partners Can Fin Homes to sell policies". Moneycontrol.com. 8 March 2018.
  14. ↑ "Canara HSBC OBC Life Insurance partners with IndianMoneyInsurance.com to sell policies". The Free Press Journal. 17 October 2019.
  15. ↑ "Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low". The Times of India. 30 August 2019. Retrieved 8 October 2021.
  16. ↑ Staff Writer (30 August 2019). "10 public sector banks to be merged into four". mint. Retrieved 8 October 2021.
  17. ↑ "Canara HSBC OBC Life Insurance renews commitment to its customers with Canara HSBC Life Insurance rebranding". Free Press Journal. Retrieved 17 June 2022.
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