About Us | Canara HSBC Oriental Bank of Commerce Life Insurance
  • About Us

    An unparalleled union of financial expertise, knowledge, strength & trust.

    Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
    The Company was launched on 16 June 2008 and is a Joint Venture between Canara Bank (holding 51%), HSBC Insurance (Asia Pacific) Ltd (holding 26%), the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC and Oriental Bank of Commerce (holding 23%).

    • The Company is jointly owned by two of India's largest public sector banks - Canara Bank and Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings Limited, the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC.
    • With a combined experience of over 300 year in the financial services space in the country, the shareholder have a sound understanding of the socio-economic needs of the population. Backed by thorough research, they launched a pure bancassurance model, a first in India, with each aspect of the business tailored to the specific needs of the distributing banks including products, training, operational & service support and integration with bank sales processes resulting in an efficient, low cost, distribution model.
    • The Company's business strategy testifies thorough understanding of the market especially with veterans looking for bank partner or scaling up their bancassurance channels.
    • The formidable distribution strength and in-depth local market knowledge of Canara Bank and Oriental Bank of Commerce coupled with the considerable insurance experience, product range and proven bancassurance capabilities of HSBC make this an unparalleled union of financial strength, expertise and most importantly, trust.
    • The Company has exclusive access to around 60 million customer and a pan-India network of around 7000 branches of the three shareholder banks. The Company currently has 28 Hubs across the country (in 26 cities) to provide necessary training and coaching support to the bank staff and ongoing service support to the bank branches.
  • Guiding Principles



    We are the insurance department of our banks, providing life insurance to bank customers.


    We are Honest, Open, Courageous and Consistent in our communications.


    We are connected to our customers, our banks, our regulators, across functions and with each other


      • Whatever we do, has to be sustainable, scalable and profitable
      • We will do the right thing; for customers, staff and society
      • We are a meritocracy, committed to developing our people
      • We assess risk and reward in line with our risk appetite
      • We aspire to elegant simplicity (Keep it simple!)

    • Corporate Social Responsibility

      We care & we are concerned.

      Canara HSBC Oriental Bank of Commerce Life Insurance Company is committed to more than just giving back to the society or community within which it operates and focuses on doing well by doing good.

      The business of Life Insurance is all about social security and protection i.e. aimed at the well being of human beings and the society as a whole. One of the five core values of the Company is Corporate Citizenship which stresses the fact that businesses and markets are essentially aimed at the welfare of society and thus complement each other.

      As a part of its commitment to CSR, the presentation of life insurance policies to 8 underprivileged children at launch was the first step towards this initiative.

      Our initiatives in 2008 | 2009 | 2010
    • Achievements

      We strive to achieve excellence.

      The company is first to launch 'Immediate Payouts on Death Claim' so that the deceased's family will receive the fund value immediately on registration of death claim under unit-linked policies.
      The Company launched a multi-lingual, interactive financial 'life stage' need assessment online tool called Life Insurance Simulator (LIS) to create awareness about effective financial planning.
      The Company started dispatching digital policy along with paper policy packs, as maintaining an electronic policy for the contract term is relatively more convenient and also provides an extended free-look period to the customer.
      The Company employed 'Straight Through Processing' (STP) underwriting rules and validations in 2011-12. This process filter applications that can be sent for issuance without requiring any manual underwriting, reducing the TAT by 1.5-2 days. This has also resulted in elimination of paper on the operations floor.
      Policy on Potentially Vulnerable Customers (PVCs), an industry first, safeguards the interest of customer falling under certain segments - PVCs are classified under "Age, Education/Occupation, Income" and there are rules and guidance for sourcing amongst such segments.
      Persistency Initiative - Online Revival of Policies: The Company is a pioneer in using technology to simplify customer service and ensure customer delight. A significant effort to ensure and increase persistency, it introduced a unique service - online revival of policies in FY 2013-14 which enables the customer to reinstate a lapsed policy and pay their premium online, thereby, making the complete process convenient, faster and effortless.
      Premium Milestones: The Company is the fastest life insurer to write WPI or Weighted Premium Income INR 100 Crore, INR 200 Crore, INR 300 Crore, INR 500 Crore, INR 1000 Crore, INR 1500 Crore, INR 2000 Crore, INR 2500 Crore and 2nd to achieve INR 3000 Crore. The Company ranked 3rd in terms of achieving WPI of INR 3500 Crore - the industry average to achieve this is 85 months and the Company has taken just 69 months for this premium milestone.
      Demonstrating Profitability in 5th Year of Operations: The Company reported maiden profit of INR 23.5 Crore in FY2012-13, its fifth year of operations - one of the fastest amongst private life insurer to have achieved this feat, a result of quality business, efficiency and thorough understanding of the market.
      The company won several prestigious awards including "Life Insurance Company of the Year 2013", "Best Training Initiative for Insurance Sector" and "Best Sales Development Programme" across industries in Asia. The company has also been awarded the "Technology Leader award in the Life Insurance Category" at the Indian Insurance Industry Awards 2012.
    • Our Management Team and Key Persons

      Anuj Mathur
      Chief Executive Officer

      Anuj Mathur

      Chief Executive Officer
      Anuj is a founding member of the Company having joined in 2007 to lead Legal, Compliance & Risk and Corporate Governance, before becoming the CFO in 2009 and later on taking over as the CEO of the Company on 1st July 2015.

      He has over 22 years of experience and has been associated with the Indian Life Insurance industry for the last 15 years. Anuj started his career with the treasury and investment management function with Maruti Suzuki Ltd. and has experience across automobile, IT and telecom sectors in Finance, Risk and Corporate Governance areas.

      He is a fellow member of The Institute of Chartered Accountants of India, Institute of Company Secretaries of India, associate member of Institute of Cost Accountants of India and a Commerce graduate from Shri Ram College of Commerce, Delhi University.
      Ritu Arora
      Chief Investment Officer & Head - Procurement

      Ritu Arora

      Chief Investment Officer & Head - Procurement
      Ritu Arora is a founder member.She has over 16 years of experience and has been in the insurance sector ever since it opened up to private players. Prior to her current role, Ritu was heading the Investment function at MetLife India Insurance.

      Ritu has played a key role in launching and taking Canara HSBC Oriental Bank of Commerce Life Insurance from strength to strength. As the Chief Investments Officer, she has successfully established and developed the Investments function, with the objective of maximizing shareholder and policyholder return. She leads a team of highly qualified and motivated fund managers and analysts. The company has delivered strong and consistent fund performance across all unit-linked portfolios and demonstrates strong CAGR outperformance over benchmarks.

      Ritu also has the additional responsibility of the Procurements function. Her focus is to centralize the function, deliver end-to-end vendor experience and management.

      Ritu is a Post Graduate in Management from S.P. Jain Institute of Management and Research, and has completed ICWAI (Institute of Cost and Works Accountants), securing all India 32nd rank. She is also a University Gold medalist.
      Chirag Jain
      Chief Operating Officer

      Chirag Jain

      Chief Operating Officer
      Chirag joined us in 2010. In his former role, Chirag was COO of Commercial International Life Insurance Company S.A.E., Egypt, where he played a key role in the transformation of the company.

      Chirag has over 18 years of experience in the banking, financial services and insurance industry.

      He has graduated from IIT, Delhi and has done his post graduation from IIM, Ahmedabad.
      Shalabh Saxena
      Head - Marketing & Customer Retention

      Shalabh Saxena

      Head - Marketing & Customer Retention
      Shalabh is a founder member & currently looks after the key portfolios of Marketing, Customer Retention, Business Planning, PR & CSR. An MBA in Marketing, from B K School of Business Management Ahmedabad, he has previously worked with Standard Chartered Bank and ING Life Insurance.

      He brings with him a strong retail financial experience of 20+ years in Consumer Banking & Life Insurance Industry. Through his career, he has run large profit centre & SBU's across various business lines in the Life Insurance & Retail Banking Industry. Core competence & exposure revolves around Distribution set up & handling sales in large business environment, Marketing, Strategic Planning, Customer Retention, Alliances & Acquisitions, Channel Relationship Management, Market Expansion & Distribution Strategy, Customer Service & Operations.

      Shalabh is a self driven professional and brings a high level of energy, dedication and integrity to the job with a clear focus towards achievement of organizational goals.
      Chirag Rathod
      Appointed Actuary & Head - Products & Strategy

      Chirag Rathod

      Appointed Actuary & Head - Products & Strategy
      Chirag has over 14 years of experience in the life insurance industry, including at the Equitable Life Assurance Society and Pricewaterhouse Coopers in the UK.

      His responsibilities include: contributing to the development of the Company's strategic plans, developing and implementing the actuarial, investment and asset liability strategies and programmes, leading the Company's product development from ideation through to pricing, product design and post-launch activities, protecting policyholders' interests by ensuring the Company maintains sufficient reserves for policyholder liabilities, maintains a strong solvency position and the financial condition of the Company is sound overall.

      Chirag is a Fellow member of both the Institute of Actuaries in UK (FIA) as well as the Institute of Actuaries of India (FIAI). He also holds a BSc. (Hons) First Class from the London School of Economics and Political Sciences.
      Vikas Anand
      Chief Compliance Officer

      Vikas Anand

      Chief Compliance Officer
      Vikas Anand is a Chartered Accountant. He is responsible for developing and managing a compliance and legal framework and providing business enabling solutions. He is also responsible for the delivery of risk-based audits and establishing international best practices.

      Prior to this current role, Vikas was with Ernst & Young, for over 11 years, including 4 years with Ernst & Young UK . Vikas has advised his clients on various matters including audits, risk and controls, regulatory compliance and guidance under Indian and UK GAAP.
      Vikas Gupta
      Chief of Internal Audit

      Vikas Gupta

      Chief of Internal Audit
      Vikas Gupta is a Chartered Accountant, and has completed CISA and CPA (USA). He is responsible for delivery of risk-based audits as per the audit plan approved by the Audit Committee.
      Prior to his current role, he was the AVP (Internal audit) with ICICI Prudential Life Insurance Company Limited. Vikas has over 10 years of experience in the consulting, banking, financial services, insurance industry.
      Sachin Dutta
      Chief Risk Officer

      Sachin Dutta

      Chief Risk Officer
      Sachin has been with the organisation since July 2008. He is responsible for developing and implementing the risk management framework in line with regulatory requirements and international best practices, develop and implement risk policies, risk appetite, standards and methodologies to support effective management of risk in the organization.

      Sachin took over the role of Chief Risk Officer in March 2015. He has over 12 years of experience in various domains of risk management & internal controls. He has previously worked with Fidelity Business Services and EXL services.com, as a part of their respective risk management functions in India.

      Sachin is an applied sciences graduate from University of Delhi and also holds 'B' Level Master's Diploma in Computer Applications from National Institute of Electronics and Information Technology (NIELIT).
      Tarannum Hasib
      Director - Sales

      Tarannum Hasib

      Director - Sales
      Tarannum Hasib has over 18 years of cross functional experience in Financial, Retail Sales, Corporate Sales, Business Development, Building Sales Model and Strategy for Retail and Commercial business of Life Insurance and Non-Life Insurance companies. In her previous role, she served as Head of Bancassurance & Alliances & Rural at Max Bupa Health Insurance and was responsible for many corporate agency tie-ups. Prior to joining Max Bupa Health Insurance, she was heading Employee Benefits business at Canara HSBC OBC Life Insurance.

      She is an expert in P&L/ROI Accountability, Relationship Management, Sales & Marketing, Market Intelligence and Revenue Maximization.

      A Chartered Accountant and an associate member of Institute of Chartered Accountants of India, she also holds a Bachelors Degree in Commerce from Narsee Monjee College of Commerce & Economics.
      Kiran Yadav
      Director - HR

      Kiran Yadav

      Director - HR
      A seasoned HR professional with over 17 years of experience, Kiran has spent over 12 years in the Insurance sector. She has worked in complex business environments and possesses ability to work on intricate business issues.

      She is an experienced professional in job evaluation, talent acquisition, designing and conducting assessment centers, learning interventions, benefit planning, reward strategy, benchmarking and designing policies, organizational development and performance management planning aligned to organization philosophy and principles.

      In her previous role, she worked as Deputy Director - HR at PNB Metlife India Insurance Co Ltd. Prior to that she worked with Aviva Life Insurance and GE Capital in various roles in the HR function.

      A graduate in Industrial Relations, Economics and Sociology from St Josephs College Bangalore, she also holds a Masters in Labour laws and Labour welfare from Pune University and a full time MBA in Personnel Management and Human Resources from Symbiosis Institute of Management Studies, Pune.
      Gaurav Seth
      Chief Financial Officer

      Gaurav Seth

      Chief Financial Officer
      Gaurav Seth is a qualified Chartered Accountant with over 17 years of experience across sales and finance domains. He has over 14 years of experience in finance including 10 years in insurance sector which includes managing controllers shop, financial planning. In his previous roles, he has handled the responsibility of sales leadership role driving the employee benefits, mortgage life insurance and micro insurance initiatives. During his latest stint at HSBC Insurance Hong Kong, he was responsible for supporting the management of the 4 Joint-Ventures for HSBC Insurance.

      Prior to that he worked at CHOICe for over 7 years and handled senior level roles in finance and sales.
    • Our Promoters

      Together nothing is impossible.


      Canara Bank

      Canara Bank was established in 1906, and has completed over a century of operations in the Indian banking industry. It is recognized today as the largest nationalized bank in India in terms of aggregate business volume. The Bank's total business crossed Rs.4,00,000 crore as on 31st March 2010. The Government of India owns about 73.17% of the Bank. Canara Bank has a rating of AAA/Stable CRISIL (Credit Rating Information Services of India) respectively. It currently has 3046 branches spread across all geographical segments and a customer base exceeding 37 million.
        Canara Bank
        • PSU established in 1906, holds 51% share in the JV
        • Over 50 million customers & distribution network of 4678 branches (as on 31st March, 2014)
        • One of the largest nationalized banks in India in business volume


        The Hongkong and Shanghai Banking Corporation Limited in India offers a full range of banking and financial services to over 2 million customers through its 50 branches and 150 ATMs across 29 cities.

        HSBC is one of India's leading financial services groups, with over 35,000 employees in its banking, investment banking and capital markets, asset management, insurance broking, insurance, software development and global resourcing operations in the country. It is a leading custodian in India. More than 5% of India's exports and imports pass through HSBC India's banking channels. The asset management business in India is one of the leading players in the industry. The Bank is at the forefront in arranging deals for Indian companies investing overseas and foreign investments into the country. It has a fully enabled and established insurance advisory of international standards. It is one of the leading players in domestic and export factoring, and one of the leading banks for an increasing number of SMEs. With its extensive reach across Asia, the Americas and Europe, HSBC has the capacity to offer complete banking and financial solutions to India's burgeoning economy. In 2008, it acquired a majority stake in IL&FS Investsmart (now renamed HSBC InvestDirect) that has enabled it to offer retail brokerage services to its customer across a wider geography.

        HSBC's network of branches is located at Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Gurgaon, Guwahati, Hyderabad, Indore, Jaipur, Jodhpur, Kochi, Kolkata, Ludhiana, Lucknow, Mumbai, Mysore, Nagpur, Noida, New Delhi, Nasik, Patna, Pune, Raipur, Surat, Trivandrum, Thane, Vadodara and Visakhapatnam.

        The Bank is the founding and a principal member of the HSBC Group which, with around 8,000 offices in 88 countries and territories and assets of US$2,364 billion at 31 December 2009, is one of the world's largest banking and financial services organisations.
          • Holds 26% share in the JV through HSBC Insurance (Asia-Pacific) Holdings Limited
          • International Bank established in1865, over 100 million customer base
          • 8000 offices in 88 countries and territories

          Oriental Bank Of Commerce

          Oriental Bank of Commerce was established in 1943 and is currently the 9th largest Nationalised Bank in India in terms of assets. The Government of India owns 51.1% of Oriental Bank of Commerce. The Bank has a credit rating of AA+/FAAA/P1+ from CRISIL. Known for its sound customer centric business practices, it has a distribution network of 1508 branches and 13.5 million customers. It offers convenient banking services through more than 1000 ATMs and currently, 100% of the Bank's business is covered within the CBS branch network.
            Oriental Bank of Commerce
            • PSU established in 1943, holds 23% share in the JV
            • 1.77 million customers & distribution network of 2132 branches (as on 31st March, 2014)
            • AA+/FAAA/P1+ from CRISIL

          • Four CSR themes

            We care & we are concerned.

            Four CSR themes
            The Company focuses its efforts in two areas: financial inclusion (child education, women empowerment, skill development, capacity building for youth, women etc) and environment (biodiversity/wildlife, natural resources and livelihoods).

            A child education programme that aims at mentoring underprivileged children, children with disabilities or who are differently abled
            Green Cover Programme
            An initiative aimed at protecting and conserving the environment by planting trees
            A skill development/capacity building programme that focuses on an inclusive growth

            Let's Change, Let's Save
            A programme aimed at using all resources responsibly/optimally through focus on reducing, reusing and recycling; respond to the challenge of global warming and climate change by promoting efficient use of energy and environment friendly processes and technologies and focus on changing/adopting ways of conserving the local biodiversity, thus protecting ecosystems and the environment

            All initiatives have an in-built employee volunteering component and form a part of the above-mentioned themes.

          • Our CSR Partners

            We care & we are concerned.

            NGOs/Organizations we work with

            Navjyoti India Foundation
            Navjyoti India Foundation Founded by Dr Kiran Bedi, it focuses on self reliance and crime prevention through education & empowerment of marginalized section of the society.
            India is one of India's foremost conservation organisations and is a part of the global network spread across 100 countries. WWF-India's works across a diverse spectrum spanning biodiversity conservation, climate change and energy, river basin and wetland management, sustainable livelihood and on environmental education
            SOS Children Villages of India
            SOS Children's Villages of India, the Indian arm of SOS Children's Villages, is committed to caring for parentless & disadvantaged children through 32 in 21 states.
            Aide et Action
            Aide et Action works globally to make "Education for all" a reality by focusing on basic education for the underprivileged; works in 22 states in India
            Amba Foundation
            Amba Foundation based in East Delhi, it works in the fields of education, health & community development, with a special focus women and children from economically weaker sections of the society
            Smile Foundation
            Smile Foundation has over 160 welfare projects pan-India which covers initiatives in education, healthcare, livelihood and women empowerment for the underprivileged communities
            Krishi Avam Paristhitki Vikas Sansthan
            Krishi Avam Paristhitki Vikas Sansthan (KRAPAVIS) works for conservation of the environment and upliftment of women to ensure sustainable livelihoods for rural, pastoral communities of Rajasthan
          • CSR Partners and Projects FY 2014-15

            We care & we are concerned.

            WWF-India (Trust): Project Madhuvan Aide et Action India (Company) : Project Saakaar Amba Foundation (Society): Project Ujjwal Bhawishya
            Navjyoti India Foundation (Society) : Project Unnati Smile Foundation (Trust) : Project Saksham Krishi Avam Paristhitiki Vikas Sansthan (Society) : Project Mahila Ajivika SOS Children's Villages of India (Society) : Project Utkarsh
          • CSR Partners and Projects FY 2015-16

            We care & we are concerned.

            WWF-India (Trust): Project Madhuvan Aide et Action India (Company) : Project Saakaar Amba Foundation (Society): Project Ujjwal Bhawishya
            Navjyoti India Foundation (Society) : Project Unnati Smile Foundation (Trust) : Project Saksham Krishi Avam Paristhitiki Vikas Sansthan (Society) : Project Mahila Ajivika SOS Children's Villages of India (Society) : Project Utkarsh Canara RSETI (Trust): Project Pragati OBC RSETI (Trust): Project Shakti Advit Foundation (Trust): Project Jal Jeevan Butterflies (Society): Project Asha CHOICe CSR & Admin - as guided by OBC: Project Swachhta CHOICe Marketing: Project Samarth
          • Awards & Recognition

            A journey that reflect the company's inherent strength

            Canara HSBC Oriental Bank of Commerce Life Insurance Company has been conferred with significant accolades and recognition on its journey that reflect the company's inherent strength and success of the bancassurance business model.

            Awards & Recognition - 2015
              "ET Promising Brands 2015" Award
              The company was awarded "ET Promising Brands 2015" by Economic Times. This award distinguishes the company as a trusted brand and exhibits its commitment on customer centricity.
            The Indian Insurance Awards 2015 by Fintelekt, part of S P Media
            The company was conferred with three prestigious awards :
              Bancassurance Leader (Life Insurance)
              This recognizes the bancassurance partnership that allows the company to leverage a nationwide network of bank branches.
              Technology Innovation (Life Insurance)
              This award acknowledged the Intelligent Interactive Voice Response and Customer Information System developed by the company.
              Most Socially Responsible Insurer (Life Insurance)
              This award recognized the company's Corporate Social Responsibility initiative, Project Madhuvan.

            Awards & Recognition 2010 | 2011 | 2012| 2013 | 2014