Canara HSBC Life Insurance

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Canara HSBC Life Insurance
Company typePublic
IndustryLife insurance
Founded2008
Headquarters
Gurgaon, Haryana
,
India
Area served
Worldwide
Key people
Products
Owner
Websitewww.canarahsbclife.com

Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram.[6] Established in 2008, Canara HSBC Life Insurance [7] 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.[7][8]

The company provides life, health, online term plans, credit life and employee benefit segments.[9][10]

History and overview

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The company was set up in 2008. In February 2014, Canara HSBC Life Insurance [8] introduced the concept of online revival of the policy, enabling customers to reinstate a lapsed policy and allows to pay their premium online.[11]

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.[12] The company partnered with Dhanlaxmi Bank in June 2017.[13] It also tied up with Can Fin Homes and[14] IndianMoneyInsurance.com.[15] In April 2020, Oriental Bank of Commerce merged with Punjab National Bank.[16][17] On 15 June 2022, the company rebranded as Canara HSBC Life Insurance.[18]

See also

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References

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