Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
Established in 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). The Company brings together the trust and market knowledge of two big Public Sector Banks in India i.e Canara Bank and Punjab National Bank combined with the global insurance expertise of HSBC.
Headquartered in Gurugram, the Company has more than 40 branch offices pan India. The Company also sells and services its customers through more than 20,000+ bank branches of it partners. With well established distribution network in Tier 1, 2 and 3 markets as well as rural belt, along with new age tech servicing avenues, the company is committed to serve its customer as per their preference and needs.
The Company has a well diversified portfolio of insurance products and solutions, tailored to the specific needs of the customers. The Company offers 32 products as of 31st March 2020 across Individual and Group space, comprising of Life, Health, Online term plans, Retirement solutions, Credit life and Employee benefits segment. Company’s primary focus while offering products is to ensure that customer needs are met through their life cycle - Child Education, Family Protection, Long Term Savings and Retirement and while ensuring value for money.
Fast Facts about the company
MD and CEO – Mr. Anuj Mathur
Shareholders - Canara Bank: 51%, HSBC: 26%, Punjab National Bank: 23%
Products – Online Term Insurance Plans, Term Insurance Plans, Savings Plans, Retirement Solutions, Child Insurance Plans and Health Insurance