About Us
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| 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 operates a bancassurance model.
It has an exclusive access to around 60 million customers and a network of over 6000 bank branches of its corporate agents.
The 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.
To deliver affordable insurance solutions to address the needs of the rural population, the Company has tied up with three Rural Regional Banks (RRBs) - Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in December 2009 and South Malabar Gramin Bank in June 2010.
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The Company has a
Resolution Centre (call centre) at the Head Office that caters
to the diverse needs of its customers pan India and has a
capability to handle calls in 10 different languages.
The Company is the
fastest Indian life insurance company to cross ` 500 crore,` 1000 crore,` 1500 crore and `2000 crore in weighted premium
income till date*.
The Company through
its prudent investment strategy has demonstrated consistent
fund performance, exceeding benchmarks across all funds.
The Company's total
capital base currently stands at `
925 crore.
* IRDA Website |
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Holds 51%
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PSU Established in 1906
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37.38 million customers |
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Total business crossed `4,00,000 crore as on 31st
March 2010 |
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Largest nationalized bank in India in business volume
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AAA/Stable CRISIL (Credit Rating Information Services of India) rating
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Distribution network of 3046 branches
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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 `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.
Over the years, the Bank has been scaling up its market
position to emerge as a major 'Financial Conglomerate' with as
many as nine subsidiaries/sponsored institutions/joint
ventures in India and abroad. Keeping customer convenience at
the forefront, the Bank provides a wide array of alternative
delivery channels that include over 2000 ATMs- one of the
highest among nationalized banks- covering 728 centres, 1959
branches providing Internet and Mobile Banking (IMB) services
and 2091 branches offering 'Anywhere Banking' services. Under
advanced payment and settlement system, all branches of the
Bank have been enabled to offer Real Time Gross Settlement
(RTGS) and National Electronic Funds Transfer (NEFT)
facilities.
The Bank has distinguished itself through innovations such as
the first bank to offer a credit card for farmers and
Agricultural Consultancy Services and through various
corporate social responsibility initiatives promoting rural
development, enhancing rural self employment through training
institutes and spearheading the financial inclusion objective.
For more information, please visit www.canarabank.com |
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| HSBC |
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Holds 26% through HSBC Insurance (Asia-Pacific) Holdings Limited |
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International bank established in 1865
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Over 100 million customer base |
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US$2,364 billion worth of assets |
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8000 offices in 88 countries and territories |
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HSBC Group
The HSBC Group, headquartered in London, is one of the world's
largest banking and financial services organizations with 8000
offices in 88 countries and territories and assets of US$2,364
billion as on 31st December, 2009. One of its
founding and principal members is HSBC Bank. HSBC Bank is one of
India's leading financial services groups, with over 25,000
employees in its banking, investment banking and capital
markets, asset management, insurance, insurance broking, retail
broking, software development and global resourcing operations
in the country.
For more information, please visit www.hsbc.com
HSBC Insurance (Asia-Pacific) Holdings Limited
www.insurance.asiapacific.hsbc.com
HSBC Insurance (Asia-Pacific) Holdings Limited is a wholly owned
subsidiary of The Hongkong and Shanghai Banking Corporation
Limited, which is owned by HSBC Holdings plc, the London-based
holding company of the HSBC Group. It is the holding company for
HSBC insurance manufacturing operations in the Asia Pacific,
with operations and investments all over the region, including
the Hong Kong Special Administrative Region (SAR), the Macau
SAR, Singapore, Malaysia, South Korea, Taiwan, Vietnam, India
and China.
HSBC Insurance (Asia-Pacific) Holdings Limited maintains a large
insurance presence in Asia, with around 2,590 staff providing
professional support to its business and customers as at 31
December 2009. Globally, HSBC Insurance contributed US$2.5
billion or 18% of Group profit, of which Asia Pacific region's
share was US$1.2 billion i.e. 49%, as at 31 December 2009
For more information, please visit www.insurance.asiapacific.hsbc.com |
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Oriental
Bank Of Commerce
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Holds 23% |
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PSU Established in 1943
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13.5 million customers |
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Business Mix of `
2 lac crore as on 31st March 2010 |
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9th largest bank in India in terms of assets
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AA+/FAAA/P1+ from CRISIL
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Distribution network of 1508 branches |
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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.
The Bank has a number of Corporate Social Responsibility
initiatives in the rural sector and for women such as the
GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh
District (Rajasthan). Formulated on the pattern of the
Bangladesh Grameen Bank, the Scheme has a unique feature of
disbursing small loans ranging from `
75 onwards. The beneficiaries of the Grameen Project are mostly
women. The Bank has also implemented a 14 point action plan for
strengthening credit delivery to women and has designated 5
branches as specialized branches for women entrepreneurs
For more information, please visit www.obcindia.co.in |
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