Canara HSBC Life Insurance

Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram.[8] Established in 2008, Canara HSBC Life Insurance [9] 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.[9][10]

The company provides life, health, online term plans, credit life and employee benefit segments.[11][12]

History and overview

The company was established in 2008. In February 2014, Canara HSBC Life Insurance [10] introduced the concept of online revival of the policy, enabling customers to reinstate a lapsed policy and allowing them to pay their premium online.[13]

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.[14] The company partnered with Dhanlaxmi Bank in June 2017.[15] It also tied up with Can Fin Homes and[16] IndianMoneyInsurance.com.[17] In April 2020, Oriental Bank of Commerce merged with Punjab National Bank.[18][19] On 15 June 2022, the company rebranded as Canara HSBC Life Insurance.[20]

See also

• List of insurance companies in India